PLM has become the cornerstone upon which leaders in the food and beverage industry build successful organizations. But some manufacturers struggle to understand and measure the efficacy of PLM when it comes to a tangible return on investment.
SpecPage has created a checklist and ROI calculator to help advance interdepartmental communication and knowledge for key stakeholders and to accurately calculate the ROI of a PLM process solution. This analysis evaluation will clearly illustrate the wide-ranging benefits for formula-based food and beverage manufacturers.
Comprehensive PLM optimizes data and delivers digital transformation for your product’s lifecycle. It spans the full lifecycle – it is an innovative, interdisciplinary, intellectual asset process solution that supports the extension of each product from ideation, concept, trials, simulation, realization, profitability management, quality control, compliance, and on-going product management.
Fast track innovation with digital transformation
The traditional business drivers impacting food and beverage producers are time, cost, and quality – but these are not the only key concerns.
Process innovation is essential for sustained growth. Process innovations are not limited to individual products – they include re-use, recycled and new product development, sales processes, manufacturing, distribution, ingredient sourcing, packaging, globalization, and product differentiation.
SpecPDM delivers opportunities for closed-loop operations, where the entire value chain is in full communication and authorized shareholders participate in real-time with full process transparency.
Calculate Baseline for ROI
SpecPage’s unique ROI calculator illustrates what independent studies confirm – the SpecPDM process solution has a significant and profound impact on increasing productivity, reducing costs, and influencing innovations. Third party studies indicate that, even with minimal input, our ROI calculator computes improvement percentages in the following areas:
- Employee data search and collaboration productivity
- Change management efficiencies
- Increased recipe reuse, recycle
- Elimination of duplication and equivalent formulations
- Supplier collaboration for specifications and certifications
- Eliminating lost, fragmented, misplaced, or unapproved specifications and documentation
- Accurate specifications for global regulatory compliance
- Formula history capture to avoid error reintroduction
SpecPage provides quick-start, out-of-the-box PLM solutions that were designed exclusively for food and beverage producers. Our affordably priced, flexible, subscription-based, on-premise and SaaS options translate into low project costs and a rapid return on your PLM investment.
Although a PLM process solution investment is often initiated by a single department, like research and development or quality assurance, the financial benefits encompass the entire organization.
After reviewing a variety of independent PLM software studies, SpecPage’s PLM-ROI calculator has been programmed based on far more conservative improvement percentages than were observed in actual practice with SpecPage customers.
With a minimal data input, the ROI calculator produces clear outcomes using easy steps to measure SpecPDM’s return on investment and financial benefits.
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ROI for PLM e-Book
ROI for PLM deployments in the food and beverage industry.