Digitizing PLM Alone is Not Enough: Why Connecting Every Part of Your Value Chain is CrucialApril 12, 2019
While digitization closes the product information gap and extends the PLM to the entire product development process, digitizing PLM alone is not enough to reap the full benefits of a true end-to-end digital solution. Instead, fashion retailers and brand owners should scale their business by bringing together all departments, including merchandising, product development, sourcing, compliance, purchasing, production, quality, logistics, marketing and sales. By connecting vendors, suppliers and other providers, a cloud-based solution that powers every part of the business streamlines processes, improves collaboration and reduces lead times.
Digitizing PLM transforms design productivity, but simultaneously digitizing vendor compliance, quality control and supply chain management allows companies to reach their full potential in the scope of one comprehensive solution.
Managing risk by ensuring vendor accountability, transparency and adherence to your standards of vendor engagement—from on-time deliveries to safe working conditions in factories—is at the top of most retailers’ priorities. With many moving parts involved, a digital solution can help companies evaluate, manage and report on all aspects of vendor compliance. Increased visibility also helps brands build and maintain a positive image, resulting in more market share while reducing the cost of non-compliance.
Superior product quality is another obvious priority for retailers. As a determining factor of your company’s success, consistent product quality leads to repeat customers and bottom-line improvements, while a single quality issue can result in PR nightmares and a damaged reputation to your brand. Digitizing quality control helps identify problems sooner, reducing the risk of a bad reputation while lessening cancellations, chargebacks and returns.
Supply Chain Management
Finally, a rapidly-changing sourcing environment calls for a demand-driven, agile supply chain. The extended global supply chain now includes retailers, brands, vendors, manufacturers, suppliers, contractors, agents, brokers, carriers and freight forwarders. To seamlessly share information among all of these members and create a sense of connection, a digital platform is necessary. Switching to digital also optimizes product lead time and distribution, maximizing company revenue and profit.
How to Digitize the Entire Value Chain with Andromeda
The Andromeda cloud-platform offers an intuitive user interface, advanced functionality, greater scalability and faster performance across all touchpoints of the fashion value chain. In today’s highly competitive retail environment where “fast fashion” companies set the standard of fast turnaround times for the industry, digitization is increasingly vital for all parts of a business, not just PLM.