The holy grail of every food and beverage manufacturer in today’s market is complete product optimization, a process that ensures all of the investments in developing, testing, marketing, and retailing a new product is delivering maximum value.
To achieve this, manufacturers need a comprehensive product lifecycle management (PLM) plan to structure development, and manage all information and assets. In short, PLM systems ensure that everything from product inception, to sale, to eventual retirement are all handled as efficiently and cost-effectively as possible.
Carrying out PLM manually has always been incredibly difficult, but with the growing complexities of consumer demands and food regulations, this can be impossible without dedicated PLM software. This technology replaces overwhelming spreadsheets with intuitive databases, control panels, workflow automations, and even AI, so users only have to worry about the products themselves.
PLM offers F&B organizations advantages including:
It’s becoming mandatory for organizations to keep stakeholders in the loop and operate with
greater transparency for consumers. PLM software is especially useful for opening communication between different suppliers and material sources, ensuring supply chain
This gives each business partner involved in the product lifecycle unrestricted data access to help maintain products and raw materials. It can even integrate with the manufacturing machinery software for even more seamless process management.
Some other major benefits of using PLM software are:
From research and development to customer service, PLM software offers complete end-to-nd benefits for any organization that utilizes it. PLM can easily integrate with a global online database, facilitating seamless information exchange between suppliers, sellers, and even customers. Improving the efficiency of information exchange doesn’t just benefit the organizations involved, it can actually improve the entire marketplace, allowing everyone to respond quicker to customer needs.