Key points are not available for this paper at this time.
A product lifecycle is the succession of stages from the product's birth until its final withdrawal from the market. While each stage brings significant changes, a succession of strategies for the management of product lifecycle is required. The product lifecycle management creates and manages a company's product-related intellectual capital starting from an idea to its final retreat. In pharmaceutical industry, it benefits through enhancing the lifespan of patent and pricing strategies. Improved patient compliance, revenue growth, expanded clinical benefits, cost advantages life extension exclusivity and quicker market launch are amongst the main applications of product lifecycle management. To fabricate an effective and fruitful product lifecycle management program many attributes are considered. The chief ones are: early start; strategic planning clear leadership; supporting knowledge and skills, preparedness for changing rules of government and organizations.The present manuscript focuses on product lifecycle management, its applications and the key considerations for a successful product lifecycle management.
Prajapati et al. (Thu,) studied this question.