How to deliver a winning business case for product lifecycle management (PLM)
The increasing rate at which fashion companies are required to produce new products and the growing number of stakeholders engaged in the workflow is adding new levels of complexity to the product development process. In response, forward-thinking industry executives and product owners are choosing processoriented solutions like the new generation of Product Lifecycle Management (PLM) software to help them make better business decisions. The benefits of investing in PLM technology, although well documented, is with its latest platforms significantly upping the ante on optimizing operational performance. The new generation of digital tools and reporting dashboards are more powerful and provide greater visibility of the product workflow. Fashion companies seeking to strengthen their competitiveness by delivering better quality products to market faster are adopting the new generation of PLM technology to produce with greater efficiency and accuracy. However while many product leaders have a strong understanding of the importance of adopting PLM, they struggle with gaining buy-in from internal leadership.
As a result, delivering superior products in a timely manner becomes increasingly difficult due to the minimal visibility of product data and workflow processes locked in operational silos. So what is the key to garnering buy-in and budget from decision-makers? A great business case. The power of the business case is that it gives all key decision makers access to the same information, insight and ideas needed to understand the benefits, risks, and timescale of implementing a PLM solution. The key in delivering this message to executive management is presenting it in a format that is easy to understand. To help grasp the fundamentals of a business case, we present you this short guide and associated checklist detailing how you should organize your business case and what information you need in it. The easy to follow document will help you to create your own business case and gain the necessary buy-in for implementing PLM in your fashion company.