Managing your business’s supply chain in an increasingly global economy presents major challenges. Consumers have come to expect both low prices and quick access to products. But managing a product from design and development up to delivery to a customer’s front door is fraught with risks when you have supply, manufacturing, transport, and other factors working on a global scale. It’s growing increasingly hard to meet demand and manufacture with cost-effectiveness as complexity increases, and poor data management creeps into your systems That’s why utilizing the right PLM software can help you overcome these risks and challenges.
Why Supply Chain is the Thing Holding Your Business Back
There are several ways that poor management of the supply chain can cause problems that prevent growth.
Consider the case of global athletic apparel company Adidas. The German company reported last year that it had hit a significant supply chain bottleneck. It was unable to meet demand in North America due to manufacturing limitations. Without proper supply chain management, anything can go wrong. Imagine having colossal brand recognition and demand and failing to ensure the necessary manufacturing capacity to meet it.
The biggest issue that underlies all the potential problems of supply chain management is complexity. Global supply chains are complicated and have many moving parts. What you need to manage it effectively and for business growth is a systematic approach for coordinating and executing the supply chain.
Product Lifecycle Management Software
One tool that can improve supply chain management is product lifecycle management (PLM) software. This system collects and manages information for the whole life cycle of a product. It is a collaborative tool that allows everyone involved to have access to data and changes that occur during a lifecycle. It automates, simplifies, and maximizes efficiency.
How Does PLM Software Allow Your Business to Scale?
Products like the Centric 8 PLM are becoming essential in scaling businesses. They help prevent and solve the supply chain problems that can hinder growth for manufacturers, especially those operating globally:
- Development and design. PLM provides updated information on production and supply chain, like available equipment and materials, for instance. Designers get easier access to this information to inform the creation of new products or improvements on existing ones. The sharing of data also allows for the benefits of easier collaboration.
- Materials and suppliers. A supply chain becomes inefficient when you lose track of materials available and supplier relations. PLM software provides updated information on what you have and who can supply what you need at the right price. Update material inventories faster, waste less time, and avoid overpaying for materials.
- Supply chains are more transparent than ever before, and consumers are more interested in how and where their products are made. Use PLM to make sure your materials and supplies come from manufacturers that match your company’s priorities, needs, and values.
- Warehousing and shipping. Make transport and storing of products efficient and avoid costly pitfalls with information from PLM systems. PLM can connect and coordinate information between manufacturing, warehousing, and shipping so that everything moves efficiently and without delays.
Don’t let supply chain management overwhelm your business. With increasing consumer demands for transparency, a complex global market, and a need for updated information to run the supply chain smoothly, you need the right tool. With a PLM system, you get more automated, streamlined, and efficient processes to accelerate growth.