In order to reduce product development (PD) costs and duration, PD cycles are being accelerated in order to reduce the time to market and satisfy the end customer needs. Another key challenge in PD today, is product diversification in the technologies used, requiring improved collaboration amongst local and dispersed multi disciple PD teams. A main stream tool that aids and support engineers in PD to collaborate and share information/knowledge is Product Lifecycle Management (PLM). This research explores the benefits and requirements of implementing a PLM system for a PD and manufacturing company within the automotive supply chain. This paper first provides a brief background of the subject area, followed by an explanation of the initial industrial investigation for the implementation of a PLM system, from which investigation the resulting conclusions and recommendations are presented as the building blocks of the implementation project.