Product lifecycle management (PLM) is a comprehensive system used by fashion and retail brands to manage the entire process of creating and selling a product.
From design and development to production and distribution, PLM helps brands streamline their processes, improve time to market, and increase sustainability.
It also enables them to enhance quality control, ensuring that their products meet the highest standards and meet customer needs.
Read on to learn the many benefits of an efficient apparel PLM system for fashion and retail brands, and explore how it can help them stay competitive and achieve success in today’s fast-paced, highly-dynamic market.
Why Fashion And Retail Industry Use PLM
Streamlining the Design and Development Process
The design and development process is an important part of any fashion and retail brand’s operations, and streamlining it can have a significant impact on the overall efficiency and success of the brand.
With PLM, fashion and retail brands can improve communication and collaboration among team members, which can help reduce misunderstandings and improve the flow of ideas and information.
Centralized data management is also an important aspect of PLM, as it allows brands to store and access all relevant information in one place.
This includes design drawings, specifications, and other technical documents, as well as information about materials, colors, and other details.
By having this information readily available, team members can easily access it and share it with others, which can help improve the speed and accuracy of decision-making.
Improving Time to Market
In the fast-paced world of fashion and retail, being able to bring new products to market quickly is crucial. PLM can help brands improve their time to market by reducing turnaround times and increasing competitiveness.
With a PLM system in place, brands can streamline their processes and eliminate bottlenecks that may be holding up the development of new products.
This allows them to get new products to market faster, which can give them a competitive edge in the industry.
In addition to improving competitiveness, faster turnaround times can also lead to enhanced customer satisfaction.
Customers want new, fresh products, and being able to offer them regularly can help build customer loyalty and keep them coming back for more.
Enhancing Quality Control
PLM can also help fashion and retail brands improve quality control by increasing the accuracy and consistency of their products.
With a centralized data management system in place, brands can easily track and monitor the development of their products to ensure that they meet all necessary standards and requirements.
PLM can also help reduce the risk of defects by providing a clear record of all changes made to a product during its development.
This allows brands to quickly identify any issues that may arise and take corrective action to prevent defects from reaching the consumer.
Enhancing Sustainability
Sustainability is a key concern for many consumers today, and fashion and retail brands that can demonstrate their commitment to sustainability are more likely to be successful in the marketplace.
PLM can help brands improve their sustainability efforts in a number of ways. First, it can help brands improve their supply chain management by providing a clear record of all materials used in the production of their products.
This can help brands identify opportunities for using more sustainable materials and reducing their environmental impact.
PLM can also help reduce waste in the production process by providing a clear record of all materials used and identifying any excess or unnecessary materials that may be discarded.
By tracking the materials used in the production process, brands can identify opportunities for reducing waste and improving the efficiency of their operations.
Finally, PLM can increase transparency in the production process, which can help brands demonstrate their commitment to sustainability to consumers.
By providing a clear record of all materials and processes involved in the production of their products, brands can show consumers that they are taking steps to reduce their environmental impact.
This can help build customer loyalty and increase brand reputation in the marketplace.
Final Thoughts
PLM is an essential tool for fashion and retail brands looking to streamline their processes, improve time to market, enhance quality control, and increase sustainability.
By implementing this system, brands can improve efficiency, reduce errors and accuracies, and increase competitiveness in the industry.
In addition, it can help improve relationships with suppliers, reduce waste in the production process, and increase transparency for consumers.
These benefits make PLM an important consideration for any fashion and retail brand looking to succeed in today’s market.
