Product lifecycle management (PLM) software reduces time-to-market by centralising all product-related information in a single place, eliminating inefficiencies and accelerating collaboration between departments, and between manufacturers and suppliers.
According to McKinsey & Company, a confluence of modern trends: “have led to faster cycle times and ever-smaller shipments, and the explosion of small, nimble players across industries is forcing legacy manufacturers to expand their supply chains to be more responsive.”
To keep pace, marketing departments often request that new products be delivered in mere weeks—a timeline that legacy beauty companies were not built for.
What is driving shortened product lifecycle timelines?
The reasons for condensed development cycles are myriad. Some are driven by changing consumer preferences—for example, multi-shade, multi-use, and unisex product lines. This ty