Final answer:
Product Lifecycle Management (PLM) software manages the entire life cycle of a product from design through manufacture to disposal. It helps coordinate new product releases, estimates costs, and integrates designs into manufacturing systems while optimizing the process so correct option is 1).
Step-by-step explanation:
The software that manages a product beginning with the design of the product, continuing through its manufacture, and culminating in the disposal of the product is known as Product Lifecycle Management (PLM) software. PLM software facilitates the integration of different stages of a product's life cycle, from initial conception through design, manufacturing, and service, to end-of-life processes. It interfaces with design engineering to coordinate the release of new products and helps in estimating manufacturing costs and time standards. This ensures that the product development process is well aligned with manufacturing systems and capabilities, supporting an efficient transition from design to production.
Such systems are critical for businesses as they strive to optimize and streamline product development. Engineers and developers use PLM systems to manage documentation, help in making informed decisions about design modifications, and determine the most efficient manufacturing processes. Aspects such as maintaining a logical and systematic approach to problem-solving, demonstrating strong communication skills, and following through on tasks to completion are necessary competencies in the effective use of PLM software. Additionally, qualifications such as a BS in Engineering and familiarity with manufacturing techniques, process control, and LEAN Six Sigma are often required to effectively implement and manage PLM systems.