Product Lifecycle Management in Education is the key to innovation and success in organizations in the engineering and technology sector. This paper illustrates that incorporation of PLM training in coursework and education of best practices, processes and solutions at educational institutions as well as organizations helps leverage the intellectual assets of an organization and turn them into deliverable assets. PLM education and training imparts vision, technical expertise and solutions to improve productivity and efficiency in the fields of engineering, business, operations and supply chain in different industries such as OEMs their suppliers, retail, pharmacy and apparel industry etc. PLM training and applications of core methods, tools and processes achieve major cost savings and resource sharing between different business segments besides advancing the innovation in engineering and technology.