Effective requirements elicitation and management is a common need in supplier-OEM relationships, and continues to play a vital role in all aspects of the product development lifecycle. While traditional methods address the business goals for requirements and provide guidance in ensuring the accuracy of the “Descriptive-Prescriptive-Explanatory” outputs for requirements gathering and documentation, engineering organizations continue to encounter challenges with respect to capturing and communicating change, accommodating the addition of relevant design details and efficient propagation to inform development. These challenges become more difficult to overcome in mechatronic systems, which combine mechanical systems with integrated software.As software development can produce an overwhelming volume of information that requires accurate tracking and proliferation, it cannot be effectively managed using traditional hardware-centric systems. This increased complexity introduced by software-intensive products pushes existing tools to their limits, making the efficient management of information critical to successful product delivery.In this paper, we describe a systems engineering approach to requirements elicitation and management. As systems engineering focuses on the design and management of engineering projects over their lifecycles, it offers an interdisciplinary approach to dealing with the work-processes and tools that cover both the technical and information-based aspects of product delivery. More specifically, we will discuss; integration of existing tools processes, management of multiple sources of information, change management, strategies for process migration, and considerations for standards compliance.