When Should One Invest In Apparel PLM?
Product Lifecycle Management (PLM) is often branded as a unique technological measure to facilitate the apparel production and speed up the delivery. However, it’s so much more than just an efficient way to plan, design and deliver products. It helps manufacturers to come up with demand-driven strategies and get better revenues. Because of the insufficient information regarding PLM, apparel manufacturers are often unaware of the full potential of PLM and its benefits across different aspects of the apparel industry.
A PLM implementation provides manufacturers and retailers clarity and proper arrangement while merchandising, designing, sourcing, maintaining quality, complying with market, and managing the supply chain. In essence, this system is designed to organize all data and significant information that is required at different stages of apparel manufacturing and its delivery. This well-organized information further helps manufacturers to strategically plan, design and deliver their products.
Today, many apparel manufacturers and retailers are focusing on implementing PLM to stay ahead in the competitive marketplace and to streamline their products’ lifecycle. And then there are others who simply want to jump on the bandwagon. Despite this the fact is that most of the apparel businesses who are equipped with world-class PLM technology, only a few are successful. Why? This I feel might be because most of them don’t figure out the right time to take up their business implementations.
PLM though, a solution to many problems and can help run the entire process smoothly. But manufacturers must learn that it doesn’t come with a one-size-fits-all tag. One apparel business can benefit from implementing it during the downtime whereas another makes the PLM investment profitable by implementing it along with a new textile plant. The right PLM solution solely depends on a company and its particular requirements, business process and competitive dynamics.
Another important thing to take note of is that PLM implementation isn’t wrapped up in one day. It requires thorough planning along with an understanding of business requirements and problems. In addition to that, PLM implementation takes time – ranging from days to months – to allow employees, stakeholders, and partners to sync in.
The apparel industry is expanding at a fast pace and the intense competition doesn’t leave much room for mistakes. Hence, it’s important for manufacturers to know what they expect from PLM to ensure full-scale efficiency and profitability all the while removing inconsistencies.
So when exactly is a good time to invest in a PLM solution? I believe NOW would be the right answer…
