Apparel-as-a-service gained recognition nearly a decade ago with the debut of Rent the Runway, giving fashionistas everywhere the option to rent a designer dress at a fraction of the cost it would otherwise take to own it. Since then, the company has added monthly subscription offerings to serve the growing trend of renting clothes, recently reaching a valuation of $1 billion.Read More
Posts about Product Lifecycle Management (PLM)
The digital economy has forever changed consumer expectations. Increased demand for personalized products and experiences, diminishing brand loyalty and fast-changing markets are forcing companies to accelerate consumer-centric product development and commercialization processes. How can your organization launch new products quickly that meet customer demands and increase brand loyalty and awareness, without compromising on quality or price? Streamlining and integrating two key processes – product lifecycle management (PLM) and product master data management (product MDM) – can help brands navigate through the complexities of consumer-centric product development and offer products that customers want.
The amount of pollution and waste generated by the production of consumer goods and fast fashion has drawn scrutiny from governments, non-governmental organizations and consumers alike in recent years. As environmental concerns increase globally, the call for companies to act responsibly and adopt more sustainable practices in sourcing, manufacturing, packaging and distribution processes will intensify. The good news is that not only are companies rising to the challenge, but many global brands are leading the way by taking a more sustainable approach to product development.Read More
In my previous post, I discussed the power of matching supply and demand data using master data management (MDM). I showcased challenges many retail, footwear and apparel (RFA) makers face in the market today, as well as the value of applying MDM as a strategic asset that improves decision making and collaboration.Read More
For retailers around the world, the data economy has put a premium on leveraging information as a strategic asset that directly impacts revenue and growth. This is a growing trend that isn’t surprising given today’s ubiquitous use of mobile devices and the digital consumer.
If you rely on CRM, ERP, ecommerce, data warehouses and related systems, you’ve likely experienced challenges associated with costly manual entries, siloed systems and inefficient processes. These challenges often result in the creation of duplicate records that contain mismatched pieces of information – or worse – inaccurate or conflicting data.Read More
If you’re like most organizations, chances are you are struggling to understand the connections found in your disparate silos of information. We live in a virtual, technologically advanced world, and the reliance on technology by both companies and their customers for conducting day-to-day transactions and interactions only continues to increase. The number of systems holding this critical data is vast and fragmented, each operating independently of one another. The challenge of identifying and reconciling data across these disparate and siloed systems makes creating a complete and accurate view of a company or customer almost impossible. This is because no single system contains this view across all departments or lines of business or is designed to manage the complete lifecycle of the data.Read More
Product lifecycle management (PLM) has come a long way in just a few years. Throughout the 1900s a product’s lifecycle held a similar concept to today’s understanding: introduction, growth, maturity, decline. What’s changed is the management of that lifecycle. PLM was created as a manufacturing tool to track the millions of parts from hundreds of manufacturers. Today, most companies across several industries are dependent on it to be successful. And, if your company hasn’t created a digital strategy for PLM, you’re at risk of being wiped out by the competition.Read More
Dealing with increasingly complex products and growing competition has caused many businesses to take another look at how they can improve their product design processes. Identifying solutions that will yield the expected improvements can take a long time and may require organizations to let go of long-held beliefs and practices.Read More
“The first step in exceeding your customer's expectations is to know those expectations.”
Perhaps you’ve heard this quote by marketing guru Roy H. Williams. Even if you haven’t, you will most likely agree with it. Knowing who your customers are and what they want makes perfect business sense, since customer feedback can drive product direction, pave the way for better customer experiences and help identify new business channels and partners.
But how do you get to know your customer if you sell exclusively through distributors or retailers? Are manufacturers disadvantaged by being disconnected from their consumers? How do they overcome this?Read More
Historically, customer data has been often difficult to acquire, clean and, most of all, interpret. With the advent of the Internet of Things (IoT) there has been a sharp increase in both the availability of customer data as well as how much information manufacturers are able to collect from their product’s everyday use. This year alone, Gartner estimates that 8.4 billion connected "things" are already in use.Read More