- November 22, 2018
Reasons Why Fashion and Retail Industry Need PLM
There was a time when Product Lifecycle Management (PLM) was a luxury only the big manufacturers or retail chains could indulge in. Smaller manufacturers and retailers had all they could do to produce at a competitive price and get their products to customers without breaking the bank. Automation changed all that and now PLM in the retail industry is standard for operations of all sizes. Here are the reasons why.
Fast Timelines to Maximize Market Potential
Every aspect of Retail PLM is under pressure to get products to market. From the raw materials to the final product, go-to-market deadlines are constantly looming. Missing one could mean lost sales and revenue. Customers expect that what’s advertised is available and will look elsewhere if they have to wait.
That makes coordination at all levels of product development vitally important. The ability to modify schedules, delivery logistics, implement efficiencies, etc. must be seamless. Retail PLM solutions make that possible.
Growth as a company is something every organization craves. If, however, growth means your customer service and production quality suffer, it ends up being a problem as acute as any other. Managing all of that takes more than traditional communications and spreadsheets. Eventually, if you grow enough, you will need a hybrid solution like retail PLM software, to keep it all straight and help you anticipate growth problems and address them before they become crisis.
Uniformity of Data and Communications
Speaking the same language across your organization ensures that communications run smoothly. If different company entities have different data or use different systems, chaos is always a possibility and confusion is a given. PLM software gives everyone a single platform to work off of. That means everyone in your business is on the same page. In essence, with the same system and data, mistakes and communications issues will be dramatically reduced.
There was a time when a small enterprise could afford the luxury of taking their time and not knowing exactly where their products were in the lifecycle. Those days are long past. If you don’t utilize PLM in the retail industry, you are putting yourself at a disadvantage with your competitors. Give CBX Software a call and discuss your options or visit www.cbxsoftware.com for more information.