[WEBINAR] Application Acceleration: Faster Performance for End Users

Service Life Cycle Management (SLM)

Definition - What does Service Life Cycle Management (SLM) mean?

Service life cycle management (SLM) refers to a strategy that supports service organizations and helps them recognize their gross income potential. This is done by examining the service opportunities proactively as a life cycle instead of a solitary event or set of discrete events. This helps to combine every service-based operation into a solitary, but complex, set of workflows and associated business processes. SLM is defined by industry analyst firm AMR Research.

Techopedia explains Service Life Cycle Management (SLM)

As powerful worldwide competition cuts down product sales margins, global vendors are beginning to understand and appreciate the significance of customer-centric business. This has led many businesses to search for better ways to distinguish their products and gain long-lasting customer loyalty, as well as discover new profit sources. This movement triggered the growth of SLM, which is an initiative tailored to servicing a business's after-market. Service life cycle management is different from product life cycle management (PLM), which examines the entire life cycle of a product, rather than the organization as a whole.

Service management software used in SLM lets manufacturers plan their service resources. It also helps them to efficiently handle responsibilities, partners and costs of offered services. These solutions also empower staff by making additional actionable data promptly available, both in the office and in the field.

SLM includes the following vital elements:
  • Workforce administration
  • Components planning and forecasting
  • Enterprise asset management
  • Reverse logistics
  • Knowledge administration
  • Contract management
  • Returns and repair management

Techopedia Deals

Connect with us

Techopedia on Linkedin
Techopedia on Linkedin
"Techopedia" on Twitter

Sign up for Techopedia's Free Newsletter!

Email Newsletter

Join thousands of others with our weekly newsletter

Free Whitepaper: The Path to Hybrid Cloud
Free Whitepaper: The Path to Hybrid Cloud:
The Path to Hybrid Cloud: Intelligent Bursting To Amazon Web Services & Microsoft Azure
Free E-Book: Public Cloud Guide
Free E-Book: Public Cloud Guide:
This white paper is for leaders of Operations, Engineering, or Infrastructure teams who are creating or executing an IT roadmap.
Free Tool: Virtual Health Monitor
Free Tool: Virtual Health Monitor:
Virtual Health Monitor is a free virtualization monitoring and reporting tool for VMware, Hyper-V, RHEV, and XenServer environments.
Free 30 Day Trial – Turbonomic
Free 30 Day Trial – Turbonomic:
Turbonomic delivers an autonomic platform where virtual and cloud environments self-manage in real-time to assure application performance.