Respond to consumer trends and market demand with efficient collaboration and better decision-making to speed time to market, reduce discounting and enhance consumer loyalty.
Link financial goals with products to optimize product portfolios and sell-through by region and channel. Introduce new products or update and repackage for maximized margins.
Gain visibility to reduce compliance and traceability risks with clear gates, change control, ingredient tracking, label substantiation, supplier/pantry/store audits and more.
See complex product mixes across branded and private label assortments by channel and region. Package templates enable easy label creation for multiple markets and currencies.
Eliminate spreadsheets and emails to vastly improve product and packaging sourcing and supplier co-creation with a real-time ‘single source of truth’ for product-related data.
Easily compare supplier responses to RFQs, improve efficiency to cut the cost of duplication and errors and speed time to market to reduce loss due to inventory shrinkage.
“We chose Centric PLM to manage assortments, merchandise planning, sourcing and to streamline the supplier RFQ process. We now have centralized product data for hundreds of branded and private-label consumer goods and packaged foods products for better visibility, team and supplier collaboration and faster time to market.”
“Launching dozens of products in different countries simultaneously with unique ingredient and labeling requirements, different retailer timelines and central distribution models and numerous supply chain and compliance standards requires a world-class solution like Centric PLM.”
The customer implemented Centric PLM in 2015. Using PLM to connect teams working on line planning, product development, costing, sourcing, packaging and gift assembly, the company realized significant savings in project management per calendar year from improved collaboration and lead time coordination.
Better collaboration across planning, development and internal manufacturing teams
Real-time source of truth for all teams and repository of historical data
Centric is the engine that drives product development workflows
Speed up product development with comprehensive component libraries and creation of BOMs
Facilitate data sharing with Centric’s enterprise system integrations
Improved collaboration between central and regional marketing, portfolio management and planning teams
Better visibility between central and regional marketing, portfolio management and planning teams
Ability to evaluate and approve local offers with greater efficiency and confidence
Manage complex product portfolios from a central hub and adapt quickly to specific market demands
Our solutions empower food businesses with the ability to confidently trace ingredients, ensure sustainable sourcing and compliance, build long-term business sustainability and provide consumers with accurate information about food origins, ethical practices, carbon emissions, waste and more.
PLM stands for Product Lifecycle Management. It’s a transformative solution that supports all critical aspects of product development for the food and beverage market. With an effective PLM solution in place, food retailers and manufacturers can optimize new product development, drive cross-team collaboration, and make better, more strategic business decisions.
PLM is an enterprise solution, which means it works by connecting people across the product development chain to streamline operational efficiency, speed time to market, reduce costs, cut waste, improve product quality and drive innovation. In other words, teams don’t have to rely on multiple email communications, numerous spreadsheets and siloed data management systems to oversee new product development. With PLM, food and drink companies can now collaborate, share information and track changes and approvals from a single digital interface.
Food and beverage retailers, brands and manufacturers can all use PLM to bring products to market faster while ensuring customer safety and compliance with regulatory standards. Anyone involved in product development—from R&D, Procurement and Specifications to Packaging, Quality and Compliance—can leverage PLM to boost efficiency, drive innovation, and accelerate new product creation that meets market demand.
Not at all! But keep in mind, PLM is a company-wide resource, and that means it takes careful coordination and cross-departmental communication to achieve a successful roll-out. However, having an experienced food and beverage PLM point person on board can help cut down implementation time significantly.
Want more info on implementation? Check out our Agile Deployment solution, Centric’s uniquely fast path toward R.O.I.
In a nutshell, no. PLM is a tool to facilitate and streamline product ideation and creation. ERP is a solution that tracks those products once they’ve left the manufacturing floor.
For a helpful breakdown between PLM and ERP technologies, take a peek at our white paper.
Yes! In fact, specifications management is an essential capability of PLM for food and beverage brands, producers and grocery retailers. With access to ingredient and raw material libraries, formulation data and supplier quotes, users can manage product specifications quick and easy while ensuring data accuracy.
Yes to both! Product Development teams can connect with packaging and label designers through PLM’s centralized platform. Plus, if PLM offers integration with third-party tools like Adobe Illustrator or 3D Connect, then packaging engineers and graphic designers can work exclusively within one digital environment to streamline workflows.
Of course! Formulation management is another key capability of PLM for food and drinks. With the touch of a button, all product development stakeholders can access formulation data per individual product, making it quick and easy to review nutritional values, raw materials specifications, product claims, allergens and costs of goods sold. Users can also leverage this capability to modify existing formulations for new product introductions.
Definitely! Because PLM platforms keep a digital record of all product-related data and formulation methodologies, teams can track and trace any item affected by a contaminated ingredient or issue of non-compliance, remove them from store shelves and put a halt to further production.
A resounding yes! PLM solutions come equipped with end-to-end traceability, so users have control to track compliance across the product development cycle. This helps to eliminate inefficiencies, improve formulation and ensure product integrity.
Absolutely. PLM solutions provide instantaneous, real-time connection with each and every stakeholder across the product development chain. This enterprise connection allows users to initiate collaboration among teams and drive product innovation. On top of that, PLM tracks compliance data and claims validations with pinpoint accuracy, so consumers can trust what they’re buying.
There sure are. In fact, Centric was the first company to develop convenient, UX-friendly mobile apps for PLM, which help enlarge the scope of product development contributors, including product testers, sales and more.