What are the Benefits of PLM?

Retailers who have implemented PLM have found numerous benefits that include:

• Engage in "Fast Fashion" by increasing Speed to Market
• Collaborate efficiently across the Supply Chain and increase Inventory Turns and Visibility
• Create products that are of High Quality and Lower Cost, and decrease the number of markdowns
• Increase access to designs and knowledge

PLM Impacts the Apparel Value Chain

With a successful PLM implementation, a typical day in the life of designers, vendors, and decision makers becomes more efficient.

• All data including trends, designs, material libraries, and previous styles are centralized and easily accessible
• A single version of product truth is maintained through the development and production process
• Automated workflows will alert those with decision-making responsibility of events
• Activities can be monitored and tracked in real-time and shared with an apparel company's supply chain to allow for quick changes

LakeWest Group and Kalypso Combine Talents to Deliver PLM Solutions for Our Clients

LakeWest Group and Kalypso recognize that apparel companies are beginning to realize the benefits of defining and implementing a PLM process. A clearly defined PLM strategy along with enabling technology will make dramatic improvements across the entire product lifecycle allowing multi-channel retailers to remain competitive in the current market place. The balanced approach of our unified methodologies will help apparel companies improve speed to market, collaborate across the value chain, produce the high quality products at the lowest cost, and deliver on the promise of innovation in todays competitive industry.

About the Authors:

Bob Antall is the CEO of LakeWest Group consultants a Company with expertise in retail and wholesale industry and cross-functional skills in Merchandising, Distribution, Planning, Store Operations, Finance, Supply Chain Management, Product Development, and Information Technology.

George Young is the Founding Principal of Kalypso which is a consulting firm serving the world's most innovative companies. The firm helps clients to deliver on the promise of innovation. Service offerings encompass all aspects of innovation including product strategy, development, introduction, commercialization, lifecycle management, and PLM systems selection and implementation.