{"id":4461,"date":"2019-01-28T10:33:54","date_gmt":"2019-01-28T09:33:54","guid":{"rendered":"https:\/\/www.specpage.com\/?p=4461"},"modified":"2019-09-17T10:02:31","modified_gmt":"2019-09-17T08:02:31","slug":"closing-gaps","status":"publish","type":"post","link":"https:\/\/www.specpage.com\/closing-gaps\/","title":{"rendered":"Closing the Gaps with PLM"},"content":{"rendered":"

Is innovation eluding your team<\/strong><\/h2>\n

Innovation<\/a> \u2013 rapidly responding to consumer demands<\/a> and market trends \u2013 is the only way for formula-based food and beverage manufacturers to achieve success and continued, sustainable growth.<\/p>\n

Organizations do not intentionally shed their commitment to innovation, rather, they lose the culture of entrepreneurial innovation, one date at the time. Often this happens as the company begins to grow; research departments that were once agile – quick to take chances and pivot to innovative new products \u2013 are suffocated by fear of product launch failure.<\/p>\n

A clear example \u2013 largely unavoidable for producers that do not employ product data management process solutions \u2013 \u00a0is internal gaps in interdepartmental communications.\u00a0 These gaps are created by the inevitable delays and fragmented communication associated with emailing colleagues, and spreadsheet data that has been revised on one team member\u2019s platform, but not others.\u00a0 Documents stored in siloed data bases do not have the accessibility that a central repository delivers to all authorized stakeholders.<\/p>\n

The F&B industry is exceptionally competitive, and product-specific profit margins are razor thin.\u00a0 Research and development teams are on the front line of innovation \u2013 and they could use some help.<\/p>\n

Variations and reuse <\/strong><\/h2>\n

An article in The Economist magazine proclaimed that \u201cany enterprise that fails to replace 10% of its revenue stream annually is likely to be out of business within five years.\u201d This illustrates how crucial new product development innovation is to the success of your organization.\u00a0 In fact, cutting-edge new products establish and maintain your brand\u2019s position in the marketplace.\u00a0 Customer satisfaction and retention are dependent on your ability to develop exciting new products and\/or variations that keep customers coming back for more.<\/p>\n

Leaders in the food and beverage industry know that every time they scrap a product or process, they lose money.\u00a0 The best possible scenario is to keep track of each idea, trial, and simulation so that they can share the data and build on it \u2013 instead of starting from scratch each time a team member picks it up.<\/p>\n

When they are isolated or siloed, stakeholders in research and development, procurement, ingredient sourcing, quality control, packaging, product marketing and sales cannot operate at maximum capacity.\u00a0 Approval processes and essential data sharing are delayed – and crucial information can be lost or marginalized when producers work with archaic spreadsheets and group email communications \u2013 leading to a total loss of efficiency and innovation.<\/p>\n

There is no greater return on investment than a comprehensive product lifecycle management process solution.\u00a0 PLM<\/strong> transforms the entire organization by digitizing and integrating product information to define, execute, unify, measure and manage key product and workflow related processes.\u00a0\"Closing<\/p>\n

PLM provides unlimited opportunities for innovation – via comprehensive data management – that free R&D from spreadsheet and data entry errors:<\/p>\n