Is It Time for your Apparel Company to Implement a PLM System?
The apparel industry grew by 5.6 percent in 2019, and 2020 is likely to see an increase of 6.16 percent. With an increase in the number of apparel businesses going after the consumer, the competition is fierce. However, many new companies hit bottlenecks because they find it difficult to keep track of the entire organization’s operations, including material sourcing, designing, and marketing. This problem becomes especially apparent when the team is too large and scattered in different geographic areas.
Some Common Problems for Growing Apparel Companies
- One of the most significant issues a growing apparel company faces is miscommunication. When the members of the organization aren’t in the same location, it becomes difficult for them to communicate with each other. When it comes to creating products and marketing them, a gap often remains, which can lead to the fall of a company.
- About 42 percent of companies fail because of no need from the market, meaning a product that needs more work to satisfy the consumer.
- Apparel companies also face risks when they overlook customer complaints, which can lead to customer distrust when the company fails to act on their charges.
However, if you have the right tools in hand, you can solve these problems and coordinate and cooperate efficiently.
Can Product Lifecycle Management Software Help?
PLM is software that can help with efficient coordination among your entire team. It handles the complete process related to a product lifecycle, starting with ideas, designing, creation, supply, marketing. It helps everyone in your organization stay up to date and able to contribute to any part of the process.
Apart from coordination, risks can be minimized since the software holds all the product records, including product quality information. This way, you can recall items that have a different product version in case of defects or other issues.
How Does PLM Software Help Apparel Companies Scale?
The main element required for success is growth, and this is achieved through efficiency, innovation, increased revenue, and customer trust. Centric Software’s fashion PLM system helps companies scale and stop bottlenecks or repeated failures. Here are a few other ways it can help them scale-up:
- Addition of new products – It helps a company or business easily add a new product or line to their brand in a matter of seconds.
- Sharing of data – You can share information and data with your organization or team members, as well as clients and suppliers. You can choose the data you want to share during manufacture accordingly, and anyone can add updates and changes.
- Keeps the members of the organization updated – Since information can be updated in a second, every member can be kept updated and made familiar with the project as well as previous products.
- Reduced employee turnover – 33 percent of job applicants said that they worked for a maximum tenure of 3 years, and 22 percent of business leaders said the same. Since your employees can be empowered to work better and cooperate more, they can find more success and happiness on the job.
You Can Expect Growth and Success
Good PLM Software can bring you success in the form of growth. Having a safe space where you and your team can communicate quickly and efficiently and keep track of everything related to your product is a heaven-sent tool for you and your company.