When Is it Time to Add PLM?
Mark Burstein, NGC's President of Sales, Marketing and R&D was recently featured in California Apparel News to offer some advice for companies looking to add product lifecycle management systems. Here are his thoughts:
President of Sales, Marketing and R&D
If fashion companies are running their businesses by spreadsheets, emails or outdated legacy systems, they’re on a collision course with potential disaster. Without the visibility of PLM systems, they run the risk of missing deadlines, over- or under developing product lines, missing their margins, and experiencing mistakes in quality. The list goes on and on, and these are all symptoms that a company is ready for PLM.
Speed-to-market is one of the key reasons that companies adopt PLM systems. The most successful fashion companies are designing closer to season than ever before in order to be on-trend and more responsive to consumers. As a result, companies must compress their lead times and produce products as close as possible to the retail-floor set date. This helps maximize fullprice sales and reduce markdowns, which increases sell-though and profitability.
SKU proliferation is another big driver in fashion PLM adoption. Managing the increasing amount of styles, colors and sizes that fashion companies are developing today is extremely difficult without a PLM system.
PLM isn’t a luxury anymore. Fashion companies must become more efficient and productive. PLM can be the key to helping them compete.