Business operations and supporting data analysis initiatives are impeded by the silos of data present within departments, systems, and business units. Consequently, the ability of managers and engineers to harness data for operational management and informed decision-making is curtailed. The rapid advancements in technology have revolutionized various aspects of product development, manufacturing, operations, and end-of-life treatment. One such transformative concept, the digital thread, has emerged as an important paradigm. It orchestrates the integration of information and data along the entire product lifecycle, spanning from initial design and engineering through production, maintenance, use, and eventual end of life. While the digital thread has garnered increasing attention within both the research community and industrial enterprises, there remains a notable lack of standardization concerning its utilization and applications. This comprehensive literature review aims to explore the role of the digital thread in manufacturing within the context of the product lifecycle. As a result, this review synthesizes insights into the technologies, roles, and functions of the digital thread throughout the product lifecycle. Furthermore, it proposes a structured framework designed to impart a standardized perspective of the digital thread’s relevance within the manufacturing product lifecycle. Ultimately, this framework is poised to serve as a guiding resource for practitioners and researchers in designing and implementing digital threads.