Product Lifecycle Management may be a strategy as much as a technological acquisition, but the technical end certainly has improved in the last few years, says Dick Slanksy, senior analyst with ARC Advisory Group. With today's digital manufacturing  technology, a production system can be brought up to speed like never before, he says. Today's PLM systems are much more tightly integrated with enterprise resource planning. Moreover, PLM is not just for big companies. Most vendors are tailoring their products for small and mid-sized businesses, Slansky says. [Run Time (Min): 11:42]