Product Lifecycle Management (PLM) made its shinning debut as a strategic approach in the Aviation and Automotive industries. Both industries require- first and foremost – a tool to coordinate the collaboration of its many resources to create their complex products. Today, PLMs are no longer limited to the aerospace and automotive industry due to the complex processes that are now required to develop, produce and market a majority of products that we use today, that are now as complex and time-consuming no matter how simple the product may seem. In order to cope with the challenges of today’s global business environment, any company with complex products and processes must maximize everything- from creation to manufacture and distribution- in order to remain competitive. We will demonstrate specifically in this article the importance of a PLM solution to the cosmetic industry where it can control and optimize any product and its evolution.
Optimizing Innovation is Necessary
All around the world, cosmetic manufacturers are being imposed upon with increasingly stringent regulations. Today, cosmetic companies must more than ever maximize their innovational process in the face of:
- Stronger competition
- Seasonal constraints on Product LifeCyles
- Increasing product development costs
- Increasing Consumer Demands
- Fast technological innovation
A PLM helps cosmetic companies stay competitive and innovative by being designed specifically for these challenges. It supports the cosmetic industry throughout the life cycle of a product and more specifically during the developmental stages. From the product sheet designed by the marketing team to the creation of packaging through compliance, formulation, collaboration with partners, document management and administration … A PLM software encompasses each phase of the development of new products and supports the cosmetics company in its capacity to innovate and maintain its competitive advantage.
Advantages of a PLM Solution
Using a PLM software solution within the cosmetics industry like the one proposed by Lascom significantly reduces the time to market, product distribution, increases productivity of employees, meets customer expectations in order to retain them and controls the occurrence of associated risks. Here is a break down:
Accelerate Time to Market and Product Innovation
A PLM software is:
- A tool to develop new products, therefore fostering innovation;
- A solution that favors classification of products by range;
- Simplifies the creation of packaging to the user with an integrated graphic creation tool
Increase Team Productivity
A PLM solution:
- Provides access to a reference product catalog that contains centralized documents and data;
- Automates labeling in various languages;
- Makes collaboration between leaders, partners and suppliers more fluid throughout the product lifecycle.
Improve Customer Service
A PLM solution:
- Facilitates product tracking and reduces the reaction time to deal with security alerts and customer complaints when it is important to offer them compliance and assurance of product safety;
- Also guarantees complete traceability and rigorous quality control of products.
PLM Solution: What Does it Mean in Terms of Functionality?
A PLM solution dematerializes technical files and centralizes documents in order to guarantee speedy and automated updates as well as:
- Master and perfect the process of developing new products;
- Make communication with partners more fluid using a dedicated portal integrated within the PLM solution.
- Monitor step by step the progress of the project;
- Provide users with appropriate access according to their function;
- Gather the necessary information and prepare the compliance file;
- Facilitate the design of the packaging;
- And last but not least Maximize product formulation.
Conclusion: A PLM at the Heart of Cosmetic Product Development
Integrating a PLM tool shouldn’t be expected to happen over night nor should it be done that way. In order to ensure the development of more efficient business processes, the gradual introduction of integration levels is necessary. This “phased” approach permits for the company to have a better overview of its day to day activities. As the methods of extraction become more and more complex, other functional levels should be used to clarify and refine decisions at each level of the product development. The entire product life cycle of products should be integrated from the design and manufacture to the important business decisions and the supply chain.
Those companies who choose to extend the Product Lifecycle Management to all design tools and software to be fully integrated are those who reap the benefits of increased innovation and productivity. Overall, although this integration process may seem daunting, the observed benefits far outweigh the challenges and amount of effort invested on deploying it.