For 57% of fashion and retail companies, inefficient collaboration presents their biggest product lifecycle management (PLM) challenge. But by using a single platform to drive collaboration at every point — from initial concept to the end consumer — brands can cut their go-to-market time frames by six to 12 months.
These five steps can put brands on the path to greater efficiency:
- Reduce product lifecycles with a collaborative business platform;
- Minimize risk, for example with smaller product runs for rapid feedback;
- Improve visibility across all internal processes;
- Speed up decision-making with solutions to share knowledge across the decision chain; and
- Increase profit: 84% of retailers reported improved customer engagement and increased sales as benefits of adopting a fast fashion model.
Get more details in this infographic from Logility.