Describe Product Lifecycle Management (PLM) Software and Identify the Type

question 85

Essay

Describe product lifecycle management (PLM) software and identify the type of data stored in such a system.

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Definitions:

Mediation

A form of alternative dispute resolution where a neutral third party helps the disputing parties reach a mutually acceptable agreement.

Arbitration

A form of alternative dispute resolution where a neutral third party makes a binding decision to resolve a conflict between parties.

Grievance Procedures

Formal steps followed by an organization for employees to report and resolve conflicts, complaints, or concerns related to their work environment or relationships.

Legal Costs

Expenses incurred in the process of legal action or in providing legal services, including lawyer fees and court costs.