3 common myths about PLM software
You've heard that product lifecycle management or PLM software can be really helpful for streamlining your business processes. But you might have looked into it before, and gotten overwhelmed by all the information out there!
You’re not alone. These days, it seems like technology can be as much a burden as it is a relief. It's hard enough to keep up with the latest updates to your phone. Understanding all the hardware and software your business needs can be a battle of its own.
Luckily, we're here to help clear things up. In this post, we'll tackle three common myths about PLM software so you can get back to running your company instead of worrying about what you need from a PLM solution.
Myth 1: PLM requires a significant upfront investment.
The first myth is that PLM requires a significant upfront investment. The truth is, PLM is a long-term investment and not a one-time purchase. If you think about it, you're saving money by implementing PLM because it will help your business function better and grow over time. You'll save time on everyday tasks like creating bills of materials (BOMs) or managing suppliers' catalogs. You'll also free up resources from other departments so they can focus on their core competencies.
PLM software ensures that everyone in the company—from product designers to business managers—has access to the same information so projects run smoothly and more efficiently than ever before!
Myth 2: PLM is hard to implement.
One of the biggest myths about PLM is that it's difficult to implement. Let's dispel this right now. PLM software helps you manage your product development process. So, it should be obvious that if it can't do that, then it won't be worth using! In fact, PLM is designed to help you manage your product development process and make it easier for you to get from idea to creation.
Also read: How to find the best fashion PLM software for your business
PLM software makes your life easier by automating manual tasks and activities involved in the design and development process. And if you're a company with a large number of products or projects, you know how tedious and time-consuming some aspects of the process are without the right tools in place!
Myth 3: PLM only works for large businesses.
You don't have to be a large business with multiple locations and thousands of employees to benefit from product lifecycle management software. In fact, PLM is especially useful for small businesses that need to manage their supply chain, inventory and sales and marketing.
Yes, PLM helps your company handle all of these tasks more efficiently as you grow, but there are also plenty of benefits available from the very beginning. PLM helps companies define their products so they can streamline production processes and reduce waste as soon as possible. It also allows them to collaborate with vendors more effectively when making purchasing decisions or ensuring compliance within government regulations.
You'll also know exactly how many units need restocking, and at what price point before another sale takes place. If you're ever running out of stock on an item during peak season, this information can be crucial. It will help you keep customers happy while preventing any unexpected losses due to over or understocking.
Having the right PLM software doesn't have to be difficult or expensive
PLM software doesn't have to be hard or expensive. Unlike the complex, expensive enterprise solutions of the '80s, today's popular systems are easy-to-use and affordable. You can actually get started with them right away without making hardware investments or hiring new people.
Also read: What are the advantages of using WFX PLM for your fashion brand
PLM is a great tool for any business. So, it’s important that you make an informed decision when choosing the right system. We hope that this article has helped bring clarity to some of the biggest misconceptions about PLM.
If you want to see how our software can help your company grow, schedule a demo today!
