Product Lifecycle Management, or PLM, was strategically introduced as an approach for the automotive and aviation industries. In both these industries, it is very important to have a specific tool to synchronize the collaboration of various resources and create complicated products.
However, of late, PLMs are not just restricted to automotive and aerospace industries anymore. Due to the complicated processes involved in developing, producing, and marketing most of the products in use, which is time-consuming and complicated regardless of how they may seem. To cope with some of the major challenges in the environment of global businesses, companies with complicated processes and products must make the most out of everything, starting with creation to manufacturing and distribution, to ensure they are competitive.
Optimized Innovation – The Need Of The Hour
PLM solution is an important pillar of the modern cosmetic industry. It is a tool to control as well as optimize products and evolution.
Cosmetic manufacturers from all over the world are now facing some stringent regulations imposed upon them. Cosmetic companies should, more than ever, aim to maximize the innovational processes when:
- There is strong competition
- There are seasonal constraints on the product’s lifecycle
- The cost of product development increases
- Consumer demand increases
- Rapid technological innovation
PLM for cosmetics ensures that the company stays innovative and competitive at the same time. PLM helps companies to prepare specifically for such challenges. Furthermore, it also supports the entire cosmetic industry during the product lifecycle of any product and even during the stages of development.
From the marketing team’s product sheet to the packing through formulation, compliance, partner collaboration, document management, administration, etc., PLM software includes each development phase of the latest products and offers support to the cosmetic companies in full capacity to evolve, innovative, as well as maintain the competitive advantage.
Advantages Of PLM Solution
Lascom proposed an innovative PLM software solution for the cosmetic industry to reduce the time of marketing and product distribution while increasing employees’ productivity and meet customer requirements. These are some of the tried and tested approaches to retain customers and control any associated risks.
Let’s learn more:
Fast-track Marketing Time and Product Innovation
PLM software is:
- The right tool to help you with new product development, thus fostering innovation;
- A quick solution favoring the classification of a wide range of products;
- Simplified packaging creation for users with an integrated tool for graphic creation.
Upsurge Productivity Of The Team
In this context, a PLM solution can:
- Provide easy access to the catalogue of reference products containing centralized data and documents;
- Automate labeling in multiple languages;
- Collaborate with leaders, suppliers, and partners seamlessly throughout the lifecycle of a product.
Better Customer Service
It is very important to offer the best customer service to stay ahead in the league of cosmetic companies. With a PLM solution, it would be possible to:
- Facilitate product tracking with reduced reaction time in dealing with customer complaints and security alerts when it is critical to offer them assurance and compliance of the safety of a product;
- Guarantee complete traceability with rigorous quality check and control of all products.
PLM Solution Redefines Functionality
PLM solution is important in the cosmetic industry. It can dematerialize all technical files while centralizing documents that guarantee automated and speedy updates. Moreover, a PLM solution also has the following functions:
- It masters and perfects new product development;
- It makes communication and collaboration with other partners much easier and free-flowing with the help of a dedicated website integrated into the PLM solution;
- Monitor the progress of a project, step-by-step;
- Provide users the necessary access to respective functions as and when needed;
- Gather essential information and be ready with the compliance file;
- Facilitate packaging design;
- Maximize the formulation of a product.
Features of PLM
PLM for cosmetic businesses offers solutions to optimize product lifecycle. With highly scalable and features focused on departments, the solution can help businesses to create their compliant products and reduce marketing time. Here’s more:
- New Product Development: Before developing a product, various factors must be taken into account. With PLM, you can plan the process of product development and manage it.
- Project Portfolio Management: It is overwhelming to handle all the products and projects simultaneously. Moreover, it is often difficult to manage related information and data. With PLM, you can manage a large number of products, data, and documents related to the projects and products by creating centralized data back in a single structured source.
- Cosmetic Formulation: Formulation is one of the most crucial steps in product development. However, it is challenging to ensure that the formula is fully compliant with the standards and requirements. PLM facilitates R&D and ensures optimization.
- Cosmetic Regulatory Compliance: There may be many challenges on the way of launching a new product, especially related to regulatory compliance. Dealing with different country-specific regulations and markets might be even more difficult. With PLM, the compliance of software products becomes easier. It provides some essential features like automatic warnings, regulatory analysis, real-time blacklist display, and related regulatory restrictions.
- Safety Data Sheet: Health and safety are the major issues in the cosmetic industry, and Safety Data Sheet plays an important role to ensure the safe use of products and substances. With a PLM solution, you can collect the raw materials datasheet from suppliers and them. The tool can automatically generate Safety Data Sheets of finished products to retrieve data and information saved in the database.
- Cosmetic Quality Testing Management: Cosmetic industry thrives on quality. Good quality products are the result of rigorous testing. PLM software solutions include specific quality testing features like test management to assess tolerance, compatibility, stability, and challenge test amongst others.
Integrating cosmetic product development with a PLM solution may not take place overnight. In fact, it should not be done that way. To make sure the process of development is efficient, it is best to aim for a phased approach and introduce new elements gradually. This approach allows the company to have an overall better overview of daily activities. As the extraction methods become more complex, functional levels should be introduced to clarify as well as refine decisions at different levels of product development.
Companies that choose to introduce PLM reap its benefits in the form of increased productivity and innovation.