Answers to Retail’s Toughest Challenges

Written by: Blake Simms
3/15/2018

The fast-paced omnichannel world has compressed the time retailers have to create, design and produce fashion, apparel, footwear and consumer products. If you’re like many fashion brands, you’re trying to reduce cycle time. But it’s not easy when the market is demanding more frequent collections, and your supply chain is global and complex. 


Did you know? Lengthy development cycle times are the No. 1 area for improvement for many retail and apparel companies? 1

Best Practices for Overcoming Retail Challenges

IDC, WhichPLM, adidas, Brooks Brothers, Cabela’s, Tommy Bahama Group, Brooks Sports, C&A, Clas Ohlson and Staples Europe. What do these and other retail thought leaders have in common? Quoted in a new e-book, “Solving Retail’s Toughest Challenges: The Business Case for PLM,” they agree retail PLM helps improve speed to market and further innovation. How? Here are four PLM-enabled best practices.

Best practice #1: Transition to a single version of product information shared by all stakeholders.
Best practice #2: Replace foam core trend boards with digital storyboards.
Best practice #3: Digitize the concept-to-spec approval process.
Best practice #4: Gain real-time visibility into planned vs. actual costs throughout the product lifecycle.

“The time it takes for a trend to disseminate into mass market products has dramatically reduced in the past several years. With this pressure comes an immense need to reduce cycle time and deliver innovative products to maintain competitiveness,” says Mark Harrop, founder and CEO of WhichPLM. “By leveraging the power of next-gen PLM platforms, retailers and brand owners can go from trend to store faster than ever before.”

In fact, 52% of retailers are looking to expand PLM into new product commercialization and launch activities. 2

Steps to Success

Chances are, your team has heard a lot about how PLM can help with retail challenges. But what does success really look like? Here are three examples of steps in the right direction.

1. Accelerate time to market through quicker design turns and improved supply chain agility.
2. Nurture creativity and originality by reducing data entry and other tasks that take away from the creative process.
3. Eliminate silos by supporting a culture of sharing.

Does your team face tough retail challenges? Are you ready for straightforward answers to achieve speed to market? Download this free e-book “Solving Retail’s Toughest Challenges: The Business Case for PLM.” Step by step, start your retail transformation journey.

 PTC Retail PLM  Software Solution

Sources:
1. PTC LiveWorx Poll, 2017
2. KPMG Retail Outlook Study, 2017

 

 


Answers to Retail’s Toughest Challenges

Shortening cycle time, creating more collections, faster. PTC’s e-book addresses these retail challenges and more with action items and end user insights.
Tags: Augmented Reality Retail and Consumer Products Product Lifecycle Management (PLM)

About the Author

Blake Simms

Blake is a high-performing, results, and data-driven, strategic marketing leader with extensive international experience in B2B technology marketing, specifically enterprise SaaS, Cloud, and subscription solutions in Retail, Footwear, Apparel, GM & CPG sectors.

With a bachelor’s degree in marketing management, strategy and communications, Blake has worked for a variety of leading global organizations and supported them by developing and delivering their Go-to-Market strategy, with measurable outcomes in new ACV bookings and ARR growth.

As a Marketing Director, Blake has a proven track record of nurturing teams and building highly successful, best-in-class, innovative marketing programs from the ground up, driving real results against KPIs in the areas of lead generation and pipeline creation, brand awareness, product launches, customer engagement and retention, product marketing, communications, sales-enablement, and account-based marketing.