PLM stands for Product Lifecycle Management and refers to a real-time collaborative environment that supports product design, development, and disposal. It provides a single centralized repository for design information and revisions. PLM brings tighter control over products and processes. Key financial impacts include late changes, poor program management, incorrect requirements, cost overruns, and lack of component reuse. PLM maturity is linked to profitability. SoftShoeStyle is a PLM solution that can help footwear companies manage challenges like rapid fashion changes, high SKU counts, demanding customer requirements, and duplication of information through features like line folders, design planning, style specification, sample management, financial tracking, and collaboration tools.