The need to improve customer service, offer a true omni-channel shopping experience, increase efficiencies and add to bottom line profits has forced retailers to expand beyond their current solutions. Successful retailers are turning to more functionally-rich software solutions to help gain a competitive edge. Two solutions that have caught the retail industry’s attention are Product Lifecycle Management and Distributed Order Management.
Product Lifecycle Management
PLM offers all of the tools required to manage the product development process; from inception until units are production-ready. From concept to commercialization, a PLM software solution provides a product information hub to facilitate collaboration between all parties. It is especially critical to the apparel, footwear and hard goods retail industries that must bring trendy and seasonal items to market quickly and efficiently.
PLM software is a stand-alone application to accelerate product development and decrease time to market. By providing access and complete transparency during the product lifecycle, internal and external users can view and update information in real time. All product data is in one place and is accessible by all users in the process, including vendors. There is only one version of the truth. Communication is greatly improved internally and externally. All parties know what changes were made, by whom and when during the entire process to increase efficiency and reduce delays.
PLM software tools include:
Product Creation – Manage any type of product, from apparel to accessories and footwear, with unique templates.
BOM – Maintain all details of the Bill of Materials.
Technical Specification – Manage all data required to have a product manufactured.
Sample Management – Request, track and manage all sample versions.
Costing – Calculate costs, selling prices and margins to estimate if products will be profitable early on.
Ready to Produce – Collaborate with suppliers and communicate information for production phase.
Distributed Order Management
Known as DOM, Distributed Order Management leverages enterprise-wide inventory and automatically determines the optimal locations (DC, store and supplier) from which to fulfill orders across channels. It is an add-on solution and acts as the middleware that bridges merchandising with the eCommerce platform.
From the product creation to the sales posting in Merchandising, DOM takes care of every step in between. DOM is the answer to omni-channel.
Customer Focus – Eliminate outdated order management processes and infrastructure that cause delays, and increase shopper satisfaction by efficiently fulfilling orders originating from web, mobile and catalog channels.
Endless Aisle – Process-based order management from multiple channels facilitates customized fulfillment depending on business requirements so customers can shop whenever and wherever.
Never Run Out of Inventory – Maintain accurate inventory levels from multiple storage and fulfillment centers, supporting single and multiple fulfillment location scenarios.
Leverage Web and Store POS – Benefit from integration with POS system to support unified commerce.
Reduce Markdowns – Manage inventory more effectively and mitigate unnecessary markdowns by moving goods through other channels at full price.
Accurate Stock Levels – Ensure the proper distribution of your product assortment, correct pricing and precise inventory availability.