Why do multi-category retailers need PLM as a foundation for digital transformation?
The retail industry has been transformed forever. Consumer behaviour is changing, as digital disruptors and direct to consumer models offer seamless online experiences and easy, fast home delivery. Large online retailers are competing in every category, and evolving tariff agreements can create sudden import/export headaches.
This new state of retail demands demands ‘more’. More categories, more original products, more seasons. Time to market is shrinking and product portfolios are globalized, making them difficult to manage. Every SKU is under pressure to be profitable and the margin of error has shrunk. Success in a season dictates up to 90% of revenue attainment for retailers.
Despite all of these changes, one simple truth remains. Great products are at the heart of retail.
Digital transformation with PLM software puts products front and center and improves communication, collaboration, quality, sustainability, compliance and brand management to solve these challenges, and more.