Service lifecycle management (SLM) is the practice of aligning service parts management, technical communication, field service management, and product support operations to maximize customer uptime. Companies use SLM to manage parts and inventory, communications across teams, oversee service activities, and support overall product operations to assure that customers’ assets and machines operate with maximum uptime.
Service lifecycle management (SLM) and product lifecycle management (PLM) complement each other. PLM is the digital component for supply chain agility and business continuity. Data allows organizations to control costs, speed time to market, and offer quality and compliance. SLM is the physical component made up of assets and machines that require management of service, parts, communications, and product support.
Service lifecycle management (SLM) systems would employ Internet of Things (IoT) devices to do a variety of things. For example, IoT sensors could monitor the health or performance of a machine. Should the sensor spot a possible issue, it might alert the SLM system for service. Data from IoT-connected assets would allow service management teams to make better business decisions in deploying technician resources or predicting parts inventories.
Generally, there are four stages of SLM. They are: