Product lifecycle management (PLM) is one of leading enabling technology for new product development. A product lifecycle management in apparel easily keep track of suppliers and monitor compliance, key quality and cost metrics. With the help of PLM technology, all specifications, including product history is available in a few clicks. Product lifecycle management in apparel industry enhances the ease of merchandise planning, helps apparel companies choose the types of products that should be made. Designers also have a stronger vision on how to handle their time on the product by using PLM software.
According to the new research report published by The Insight Partners, titled “Product Lifecycle Management in Apparel Market – Global Analysis and Forecast to 2027”, the global product lifecycle management in apparel market is expected to reach US$ 1.82 Bn by 2027, registering a CAGR of 12.5% during the forecast period 2019-2027.
Get Sample Copy at https://www.theinsightpartners.com/sample/TIPRE00006064
Nowadays, apparel industry is facing challenge in global retail markets. Apparel companies are realizing threat from various competitors. Product lifecycle management (PLM) helps the company by offering solutions that allow retailers and manufacturers to effortlessly capture new ideas at the front end of innovation to remain on trend. Product Lifecycle Management technology (PLM) is a business strategy that integrates processes, people, technology, and data to manage the entire life of a product from conception to disposal.
The deployment of product lifecycle management in the apparel industry, act as a business strategy which improves collaboration and inter-functional coordination hence, reducing the time to develop products and time-to market. The advantage of product lifecycle management in the apparel industry is increasingly being recognized as all companies want to save time and money, in the process of providing products or service to the consumers. Adoption of product lifecycle management has been a hugely beneficial for numerous players in the apparel industry. Some of the biggest companies who works for apparel are using it to enhance business agility. Additionally, with PLM the quality of the product improves and errors decrease during development of the product.
The market players present in product lifecycle management in apparel market are mainly focusing on product enhancements by implementing advanced technologies. By signing partnership, contracts, joint ventures, funding, and inaugurating new offices across the world permit the company to maintain its brand name globally. Few of the recent developments are listed below;
2019: First Insight, Inc. entered into a strategic partnership with Simbus Technologies to introduce Customer-Centric Merchandising platform into India. According to the partnership retailers across India Would have access to First Insight’s pre-season product testing platform.
2019: Infor Inc. announced a channel partner agreement with Mashfrog, which is an Italy based IT and digital services company. The partnership is expected to focus on Infor CloudSuite Fashion coupled with Mashfrog’s service delivery credentials to drive the performance and expand market share.
2019: Gerber Technology LLC partnered with Stephanie London, with an objective to develop wide range of collection of garments. This partnership is expected to transform the costume design practices from traditional to real time designing concepts.
Buy Complete Report at https://www.theinsightpartners.com/buy/TIPRE00006468