Retail PLM
Retailers are turning to the development of private label collections as a way of ensuring customer loyalty, sustainable margins and product differentiation. For high end shoppers, this can mean a degree of exclusivity, and for others simply better value and a lower price point. Regardless of industry, building a range of private label products demands close collaboration with chosen suppliers, managing more complex supply chain processes – usually across multiple time zones – and later working with dozens or even hundreds of factories across the world to ensure that the right goods really do arrive on the right shelf at the right time... and much more.
Bringing a single innovative product to market often requires multiple design choices and development iterations. These must be supported by systems that enable collaboration and the secure sharing of information across the retailer’s internal and external design teams. Multiply this by the number of new products being introduced by most successful retailers and it is far too much for any design and buying team to manage unaided.
With a proven track record in discrete manufacturing, Product Lifecycle Management (PLM) is now a fast-emerging technology tool for leading retailers. Every product has a lifecycle that must be effectively planned and managed, with sourcing, production, sales and after-market activities a fundamental part of the product conception-through-delivery lifecycle. For retail, PLM capabilities must also support trend and concept development, product design, sampling, testing and production, as well as product packaging and technical requirements.
Whether you are planning next season’s product ranges or updating existing product lines, Eqos Retail PLM manages the design and commercialization processes while enabling collaboration among designers, merchandisers, buyers and suppliers. It further links the design process, the merchandise plan and sourcing functions together, enabling buyers to monitor the status of new and existing products to meet critical dates such as seasonal launches or promotional events.
Key Benefits Include:
- Attain higher margins through reduction in design time and lower product development costs
- Design the ‘right product, first time’ using standardized best practices for collaborative product innovation
- Reduce product data inconsistencies and rekeying by capturing and storing data in a central repository, providing a single integrated and shared view of PLM information
- Achieve faster cycle times with the reapplication of existing items in new designs
