Points worth re-consideration concerning Product Life Cycle Management

While the authors give somewhat a detailed discussion of product life cycle management (PLCM) and the characteristics of the various phases of the cycle, as against Product Lifecycle Management (PLM), they disclose their disagreement with the conventional concept on the relationship between the two disciplines, pointing out that rather than irrelevant to and independent of each other, the two disciplines are closely related, having a number of respects in common. In addition they hold that the product life cycle is composed of five phases_ development, introduction, growth, maturity and decline, rather than four_ introduction, growth, maturity and decline as most of literature maintains.