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What PLM Means to You and Your Company

Ask 10 people what “PLM” means to them and you will get a few different answers. This is because the concept, while not new, is newly defined in terms of manufacturing and retail and its automation in IT. Added to that complexity are the specific needs of industries, which means there is no single PLM software list that fits everyone’s definition or needs.

Specifically, PLM and PLM software should add the following to whatever it is applied to aid:

Process Management: This is the management of the processes that take a product from conception through end-of-life and can include everything from design and development phases through manufacturing and marketing as well as distribution logistics, post-release performance tracking and end-of-life liquidation.

Project Management: This is the system used to track and manage the various steps related to a specific project or product. It can include facets including budgeting, development, testing, assembly, marketing and distribution.

While both overlap at various points, one focuses on a specific project or product, while the other focuses on the systems needed to get that product or project to market and into the hands of likely consumers.

Also, some PLM suites provide a “Birdseye” view of any product or program to allow executive decision making in regards to product investment and profitability.

Integration

The key to any successful PLM system is the integration of the various parts of a program, product or service. PLM helps companies approach each product or service from a comprehensive viewpoint. That accomplishes the following:

Companies can     see the entire process of idea-to-market for each product and how each     phase affects the others as well as the product’s profitability.

Project,     Product and Program Managers can see where a product or service has     redundancies and inefficiencies and eliminate them when possible.

Executives can     pinpoint profit and loss centers and make better-informed decisions     regarding product and service management.

Product and     project managers can make informed decisions regarding migrating processes     to more efficient, automated and cleaner technologies and processes.

Global Management

PLM enables product and project managers to better track their products and services on a global scale. This includes identifying savings opportunities in the production process and better coordinating various phases of product development. For example, a company manufacturing two different products in two different countries might find transportation opportunities for savings by merging delivery processes.

It is good to know what you want your new PLM system to do as you review PLM software list options. Understanding what PLM means to you is key to making sure you can make the most informed decision both on a macro and micro level.

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Supply chain software

At CBX Software, we know the many advantages that supply chain software can provide. Learn how you can select the best supply chain software for your business.

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Product sourcing software

Find out about the 5 blunders to avoid when product sourcing. CBX Software, a sourcing software company, provides the best solution for your business needs.

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Businesses need to manage all aspects of their products, especially during major life-cycle stages, which can be possible with functional software. Hiring PLM software companies help in managing the products from conception and delivery to decline.

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4 Common Sourcing Mistakes Businesses Make with New Software

Every business needs to face pitfalls or huge mistakes that can end up costing them millions of dollars. Thus, investing in sourcing software helps to avoid those blunders and reinvent the ways you do business.

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Learn about PLM system software, a program that helps businesses digitalize product management, from conception and design, all the way to the product's decline and disposal.

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How to Choose Retail PLM Software

Learn the benefits of product lifecycle management solutions and how to choose the right one for your business.

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Managing your suppliers well gives your company an advantage. Here are a few tips to get you started.

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The Importance of Strategic Sourcing for Your Business - CBX Software

If your business needs strategic sourcing solutions, consider sourcing management tools from CBX Software to reduce costs, manage vendors, and refine processes.

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Debunking The Myths About A Supply Chain Management

CBX Software explains why these six myths about retail supply chain management software just aren’t true. Read on to learn the truth behind the myths.

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4 Advantages of Using a Product Lifecycle Management Software

Product lifecycle management or PLM is a type of software that monitors the life cycle of a commodity, from its conceptualization to its disposal. It acts as a repository where employees can store files related to every product the business makes. As a result, it improves the efficiency of the manufacturing process.

 Many legally recognized companies distribute PLM system software. But before you get in touch with any of them, here are some of the advantages of integrating this technology into your enterprise:

Improves Efficiency

Time is a crucial factor that can determine a company's success. Getting ahead of your rivals in launching a product is essential, especially if your respective industry is competitive. So, it's no surprise why many businesses use different technologies to speed up their process.

 PLM software can help reduce the time needed to market and manufacture your goods. It acts as your company's centralized data storage where your employees can save and access all information essential to the development of your commodities. As a result, it accelerates the transfer of relevant documents to various departments so that they can move forward with your product's creation.

Enhances Quality

The quality of a product can reflect a company's image. PLM helps businesses in this aspect by allowing your employees to compile important data, like customer feedback and product quality. This way, you and your development team will have a reference for improvements.  

Increases Productivity

Data from market research and product can help you create a profitable product successfully and sell your commodities to your intended customers. But gathering and compiling such information can be time-consuming.

 With the help of PLM, your employees can drastically decrease the time required to complete such tasks. This system allows users to transfer data and update them as quickly as possible, giving your staff more time to focus on the other aspects of your company.

Manages Manufacturing Costs

The price of the materials used to make products continuously rises, so companies should be fully aware of the item's total cost during its development. PLM software gives everyone in your company full visibility of a commodity's life cycle. This will help them find the necessary resources needed to build your company's inventory to prevent under- or over-buying supplies.

 These are some of the advantages of using PLM system software. With its help, you can outperform your competitors. So if you need it, reach out to different legal distributors in your area so that they can install it in your company's system.

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Strategic Sourcing Solutions For The Retail Industry

Sourcing solutions are an essential part of the retail industry. CBX Software can help you understand how this strategy can help your retail business succeed.

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Helpful Tips For Selecting The Right Project Management Software

Project management software can make a big difference to all sorts of businesses. Learn about finding the right software as CBX Software shares these helpful tips.

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Helpful Tools to Improve Your Sourcing Management

Sourcing management isn't just a trendy topic. The right sourcing management tools can be hugely impactful. You may be surprised by what a difference they can make If you're able to leverage them for your business.

Shipping

This should be obvious. Any sourcing software you use needs to help you track shipping. Whether you're shipping to customers or receiving supplies, any delays may make a dramatic difference. This also aids you with identifying suppliers that are consistently late, early, or right on time. This is definitely an advantage when it comes to tracking, scheduling, and hitting your deadlines. It may seem like a small detail, but shipping is a key factor that must be identified, considered, and calculated regularly.

Ordering

Some orders can be automated. Obviously, this won't be necessary or even helpful for every item, but companies typically have standard items or materials they need consistently and in abundance. Automating that process and avoiding human errors should prove to be very advantageous. Other orders can be reviewed, adjusted, updated, confirmed, and submitted all from one hub. This simplifies and expedites the process. It also allows you to avoid mistakes by crosschecking before the order is finalized.

Inventory

Inventory management is no simple task, but it's a massively important one. Tracking and identifying your inventory in real time used to be a dream, but it's getting easier and more accurate every year. Software has been a big part of that improvement. While no inventory tool is utterly foolproof, you might be pleasantly surprised by how much the right software can simplify and streamline the process. It may seem like inventory management can get somewhat tedious, but the right results and consistent accuracy ultimately speak for themselves.

Suppliers

No company gets everything it needs from a single supplier. Working with suppliers, calculating their pros and cons, and tracking bids are all essential tasks that can quickly become complex and difficult to categorize. If you had to keep everything in order by hand it could prove to be a monumental challenge. Of course, sourcing software could do much of the work for you. Having all of the information on your suppliers and details on bids in a single location is immensely beneficial. Although the software can't make any of the decisions for you, it can make the decision-making process much easier and less difficult to navigate.

In terms of what sourcing management tools can provide, this is just the tip of the iceberg. The right software could completely revolutionize how you imagine and approach sourcing management.

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Sourcing software solution

Procurement or sourcing is an important step of the product lifecycle and most companies find that they have to deal …

To add more value to your procurement process, considering the right sourcing software solution is a must. Not just one but, there are a number of benefits associated with it.

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Owning a Retail Supply Chain Software is vital for the success of the business. It can help businesses of every size to manage their product development lifecycle efficiently as well as gives your business a professional brand image.

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Product lifecycle management (PLM) software is designed to help you track and maintain essential information regarding your production. Installing PLM software helps you to easily keep track of everything related to design and production.