Product Life Cycle Management
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Influenced by the digital economy and extensive use of advanced digital technologies that are part of all corporate business processes, production management processes are changing rapidly. Digital technologies stimulate creation of new business models intended for designing and producing future goods, which can help a company launch the rapid product development process. New market players coming up with ultimately new products make it necessary to use a production management strategy, which should help produce highly competitive goods and services with the highest technical and quality characteristics at the lowest cost.