A generic lifecycle of products. In industry, product lifecycle management (PLM) is the process of managing the entire lifecycle of a product from inception, through engineering design and manufacture, to service and disposal of manufactured products.
Creative destruction refers to the incessant product and process innovation. mechanism by which new production units replace outdated ones. This. restructuring process permeates major aspects of macroeconomic performance, not only long-run growth but also economic fluctuations, structural adjustment. and the functioning of factor markets.
Certificate of Destruction. A Certificate of Destruction is a type of title replacement issued by the Department of Motor Vehicles to sell a motor vehicle, mobile home or vessel for parts or scrap metal. Some States label Certificate of Destruction as âJunkâ but usually means the same thing.