ERP AND PLM are assets for an organization and benefits it in many ways, like getting real-time updates, increasing efficiency, cost reduction, and providing multiple deployment options. Though ERP and PLM systems complement each other and keep track of the data and product, the business needs and the type of industry differentiate them.   PLM manages product development, from documentation, requirement gathering, technical development, and final product launch. However, ERP records the logistics, financials, and production resources, like inventory management, order processing, accounting, customer relationship management, and human resources.