Autodesk has unveiled its new cloud-based product lifecycle management (PLM) tool, which the company says enables organisations to capture and manage product information and processes to continuously improve the products they manufacture.

The company said its Autodesk 360 for PLM is part of Autodesk 360 – a set of secure, easy to use and affordable offerings developed to streamline product and project business processes.

The company claims that its new PLM offering is for companies of all sizes, from small companies eager to deploy PLM for the first time to large enterprises that have become disenchanted by PLM, due to the complexities and high costs associated with traditional PLM.

Autodesk Manufacturing Industry Group senior vice president Robert Kross said Autodesk 360 for PLM will enable customers of all sizes to achieve the full promise of PLM with a scalable, configurable and intuitive solution.

"We believe it will help our customers achieve a measurable competitive advantage through better, more accessible collaboration and business information management," Kross said.

Autodesk 360 for PLM will be anchored by Autodesk 360 Nexus, a new, cloud-based offering, with affordable, easy-to-use and simple-to-deploy software as a service that helps make the benefits of PLM business applications available to users anytime, anywhere.