The PLM software has reduced all manual activity, cutting the total time consumed into the half on an average. This has also helped in streamlining sourcing. Now a manufacturer can quickly flip through an array of samples in no time.
A PLM software integrates end-to-end product development and supply chain capabilities, enabling end users to plan, create, develop, source, cost, and follow finished goods through their life cycle to achieve rapid time-to-value.
Below is the list of major activities and function covered by a PLM system.
Application of PLM software in Fashion Business
- Tech Packs development
- Material Development
- Product development and sampling
- Sample Costing
- Sourcing
- Testing & Compliance
- Workflow Calendars
- Global Collaboration
- Exceptions Dashboard
- Custom Reporting
- Merchandise and Line Planning
- Storyboard and Line Sheets
- Specifications and Bill of Material
- Concept to Production Work Flow
- Color and Material Development
- Digital Asset & Document Management
- Sample Management & Tracking
- Time & Action Calendar/Alerts
- Collaborative Event Tracking
- Collaborative RFQ & Bids
Also Read: Top Fashion PLM Software Solution Providers
Benefits of PLM Software
PLM software supports the product development process, to integrate people, processes, and systems. It provides a product information "warehouse" for organizations. Primary benefits of PLM software include:
- Faster time-to-market
- Increased productivity
- Design efficiency
- Lower cost of new product introduction
- Insight into critical business processes
- Better reporting and analytics
- Improved product quality and reliability
- More accurate and timely request for quote generation
- Ability to quickly identify potential sales opportunities and revenue contributions
- Savings through the re-use of original data
- A framework for product optimization
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