The lifecycle of beauty products is shorter than ever. New technologies and rapidly evolving consumer expectations have left many beauty brands unable to deliver products on the condensed timeline that the modern market demands
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.
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