The Recipe for Success:

Transcription

1 The Recipe for Success: Manage your design, development and sourcing processes effi ciently to deliver winning products faster using Stibo Systems Product Lifecycle Management ebook

2 Deliver what your customers want Digital consumers and their evolving shopping habits are redefi ning the market for retail and consumer goods. Driven by consumer demands for diversity and personalized shopping experiences, the once simple business offering has developed into a complex portfolio requiring brand owners to increase product verity and accelerate market introduction without compromising on quality. Unfortunately, the product information related to the product lifecycle processes from ideation to commercialization is often stored and managed in different siloed systems or even spreadsheets. This quickly introduces errors resulting in poor designs, little visibility and no guidance for standards. For your business, it slows product launches, reduces customer loyalty and ultimately increases costs. 66% of products fail within the first year 1 1

3 Rising above the data silo challenge Overcoming the silo challenge requires full and integrated control of all data related to not just your fi nished product itself, but also the history and iterations of the different life cycles it goes through between internal and external teams. Right from concept to beta-testing, go-live and beyond, your team is continually gathering data. This business knowledge helps you make informed decisions about continued and future production but only if it is managed properly. Stibo Systems innovative PLM technology, built on top of our industry-leading master data management platform, enables a 360 view into data collected from ideation to production, giving you greater visibility throughout the product lifecycle. Together, we are building the collaborative data-driven enterprise with our customers success at the core. That is how we put Your business first. Stibo Systems brings order to your data 2

4 Retailers and brand owners Constantly challenged by rapidly shifting customer demands and the increasing number of SKUs, retailers of today aim to optimize their supply chain to stay on trend, remain profitable and competitive. 80% of products stay on store shelves for less than 12 months 3 That requires a system to manage the end-to-end processes and product information from planning, design, development, and sourcing through to product introduction. Ensuring retailers can design, develop and launch their offerings utilizing advanced workflows, PLM reduces time to market, manages suppliers globally and helps them adapt to ever-changing consumer needs right away. Key challenges Customer demands, fashions and trends change constantly New product designs need to be developed faster The number of SKUs continues to grow Supply chain becomes more complex Product performance is unknown Operational costs increase Rather than simply choosing a piece of software to tackle today s problems, you are choosing the centre of an IT ecosystem that will power the digital future of your business 4 3

5 Private label food and recipe management With the convergence of online and offl ine channels, grocers are feeling the pressure to deliver speed-to-market, supply chain transparency and personalized shopping experiences that stand out. It is all about choices, speed and convenience. Ensuring full traceability and regulatory compliance related to developing, launching and maintaining products, Stibo Systems PLM helps companies streamline the management of accurate information such as recipes, ingredient management, nutritional data and packaging. Key challenges Accelerating innovation cycles Product differentiation and operational costs Ingredient traceability required for safety and recalls Regulations and compliance are getting more complex Consumer demands and preferences change (healthy, natural, organic) Ecommerce and other new technology force new business models on the industry 456 food recalls in the U.S. were recorded for % of the nation s food takes up to 10 months to get unsafe products off all store shelves 6 47% of those posed health risks to unknowing consumers because allergenic ingredients were not properly displayed on product labels 5 4

6 PLM Product Lifecycle Management (PLM) applications help optimize your entire product development chain by centralizing product data and establishing processes to handle the complexities inherent in new product development, release and maintenance. While most PLM applications provide data warehouses to store all of your product information in one place, all of your other systems and data remain independent. The problem: Disparities during product development because information stored and used by other departments is not integrated or linked with your product data. These issues become increasingly visible as your products move towards production where sales, marketing and other teams require clean and precise product data in order to accurately and consistently launch your products. 5

7 PLM and Product Master Data Management (Product MDM) Overcoming those obstacles, a solution that combines PLM with Product MDM enables you to gather, integrate and clean data from different systems and store it in a central repository. By creating a central hub for all your data and ensuring data quality through deduplication tools and comprehensive data governance, Product MDM allows for available, secure, accurate and consistent product information ready to be distributed across your enterprise. The result: Enhanced collaboration throughout different departments and optimized workfl ows for the development, launch and eventual retirement of your products. PLM and Product MDM combined also provide the visibility required to monitor data quality at any point of the manufacturing process ensuring that your products comply with industry standards. Planning & Ideation Acquire New Product Development Manage age Vendor Management Product Lifecycle Managem nagement Produ duct MDM Share 6

8 Benefits of PLM Speed time-to-market: Optimize use of design and development resources, using centralized product information. Slash product costs: Implement singlesource-of-truth product specifi cations and create cost awareness through through cost visibility. Boost operational performance: Eliminate duplicate data and error-prone processes for consistency and control across channels. Support global growth: Standardize global processes and tools to streamline your value chain, while respecting localized needs. Ensure on-time delivery: Automate collaborative cross-functional product lifecycle processes to eliminate late deliveries. Improve collaboration: Eliminate barriers internally and with partners to speed up decision making and boost productivity. Planning & Ideation Create products consumers want Increased ed creativity and innovation Gather and understand trends and consumer preferences Improve competitivene ess New Product Devel elopment Accelerate time to market to improve profit margins Faster tim ime to marke et Increase efficiency across teams Reduce cost of product development Supplier Management Ensure quality and availability Collaborate with supplierss early on in the development cycle Improve quality and availability Ensure supplie plier complia iance and reliability Document Management age Ensure access and information accuracy Cent ntralize assets and docume ments Improve access, ce standardization atio and accuracy of information ion Minimize manual and duplicate efforts Workflow & Calendar Managem agement Enable cross- functional collaboration and visibility Implement end-to-end processes that eliminate silos Enable connectivity, visibility and traceability Improve efficiency and collaboration 7

9 #1 Choice for customers and analysts alike Stibo Systems is the only master data management (MDM) vendor to maintain a leadership position in the last three Forrester Wave reports. And some of the best and most trusted brands in the world have entrusted us with confi dence too. 72% of Stibo Systems customers report a time to value of less than 12 months 2 Return on investment 8

10 Let s get started Ready to start using the power of PLM and MDM to connect and drive value from your company s master data? Connect with us at info@stibosystems.com or visit us at stibosystems.com and start taking control of your data to reach more customers, win more business and achieve long-term growth and success. 1 Signals Analytics Report: Product Development in the Age of Big Data: What You Need To Know 2 TechValidate 3 Signals Analytics Report: Product Development in the Age of Big Data: What You Need To Know 4 WhichPLM 2018 Buyers Guide, Food Safety Magazine: A Look Back at 2017 Food Recalls, Feb 6, Offi ce of Inspector General, U.S. Department of Health & Human Services: The Food and Drug Administration s Food-Recall Process Did Not Always Ensure the Safety of the Nation s Food Supply, December 2017 About Stibo Systems Stibo Systems, the master data management company, is the trusted source of MDM solutions based on a unique business-first, people-centric approach. Our solutions are the driving force behind forward-thinking companies around the world that have unlocked the strategic value of their master data; empowering them to improve the customer experience, drive innovation and growth, and create an essential foundation for digital transformation. Stibo Systems is a privately held subsidiary of the Stibo A/S group, founded in 1794, and is headquartered in Aarhus, Denmark.. ebook_2019_plm_en_na 9