Product lifecycle management (PLM) is used in Automobile, Aerospace and similar industries for new product development and major redesign
From the Wikipedia article: Product lifecycle
PLM systems help organizations in coping with the increasing
complexity and engineering challenges of developing new products for
the global competitive markets.
The inspiration for... PLM
came from American Motors Corporation (AMC). The automaker was looking
for a way to speed up its product development process to compete
better against its larger competitors in 1985...
Lacking the "massive budgets of General Motors, Ford, and foreign
competitors … AMC began development of a new
model, that later came out as the Jeep Grand Cherokee... The second
part in this effort was the new communication system that allowed
conflicts to be resolved faster, as well as reducing costly
engineering changes because all drawings and documents were in a
central database. The product data management was so effective that
after AMC was purchased by Chrysler, the system was expanded
throughout the enterprise connecting everyone involved in designing
and building products. While an early adopter of PLM technology,
Chrysler was able to become the auto industry's lowest-cost producer,
recording development costs that were half of the industry average by
the mid-1990s.
While there are many commercial PLM software, there are also some open source ones such as: