What is Product Lifecycle Management, and Why Do You Need It?
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.