{"id":3245,"date":"2018-01-03T14:00:34","date_gmt":"2018-01-03T13:00:34","guid":{"rendered":"https:\/\/www.specpage.com\/?p=3245"},"modified":"2019-01-14T12:08:56","modified_gmt":"2019-01-14T11:08:56","slug":"food-label-digitization","status":"publish","type":"post","link":"https:\/\/www.specpage.com\/food-label-digitization\/","title":{"rendered":"PLM: A Key Enabler for Food Label Digitization (Part I)"},"content":{"rendered":"
Product lifecycle management (PLM)<\/a> is a strategic approach that applies a consistent set of business solutions by supporting the creative collaboration, management, dissemination and the use of product definition information across the extended enterprise from the concept stage throughout its entire life span\u2013 integrating people, processes, business systems, and information.<\/p>\n PLM is more than a technology; it is the convergence of various technologies, methods, best practices and functions, including product data management (PDM<\/a>), simulation and analysis (S&A), computer-aided design (CAD), digital manufacturing, predictive engineering analytics and manufacturing operations management (MOM). The \u2018Product\u2019 encompasses a wide variety of physical items, services and\/or systems.<\/p>\n Growth in the PLM software market has traditionally been driven by food and beverage, apparel, retail, finance and investment, and government. Utilities, construction, petrochemicals, and infrastructure are also key market drivers. CIMdata forecasts a compounded annual growth rate (CAGR) of the PLM market at 6.7% to $56.3 billion by 2021.<\/p>\n PLM solutions provide a product information backbone that proactively supports the data requirements of processes, systems and people along the product lifecycle and across the organisation. The benefits of having a single system of record based on a collaborative framework are many. Broadly, the advantages of PLM solutions can be enumerated as follows:<\/p>\n Companies in the food and beverage industry have distinct challenges to overcome, specifically those pertaining to increased regulatory requirements<\/a>, informed consumers<\/a>, complex supply chains and a high demand for innovation in a world of disruptors and continuous trends. A PLM solution integrating product data and processes into a single, cohesive product record can solve common problems on a number of fronts, including a lack of insight into product data and supply chains.<\/p>\n A robust PLM solution streamlines the fundamental processes of product management, enabling companies to optimize processes for quality and safety while also accelerating their pace on the innovation front. These key areas include: (a)<\/strong> project and portfolio management, (b)<\/strong> specification management, (c)<\/strong> formulation and bill of materials management, (d)<\/strong> packaging and label management, (e)<\/strong> compliance management and (f)<\/strong> supplier management. For the purposes of this article, we will understand how PLM can help food and beverage companies keep pace with evolving product labelling regulations.<\/p>\n The packaging and labelling of foods and beverages is regulated in virtually all regions and jurisdictions<\/a>. Companies are legally bound to report ingredients and nutritional facts in a transparent manner to enable consumers a clear understanding of what they are consuming. Over the years, governments of different countries have expanded and streamlined their food labelling regulations with a focus on public health and to address the demand by a more empowered consumer base for better product information.<\/p>\nBenefits of PLM<\/h2>\n
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PLM in the food and beverages industry<\/h2>\n
Product labelling regulatory landscape<\/h2>\n