Today’s intense competition continues to drive companies to innovate and to launch new products and promotions faster than ever before. To support this fast-paced product development and to improve the products success rate, many companies invest in a PLM solution. It can also help to get control over the CSR-related information and make it easier to provide accurate ordering information to the suppliers. All in all a PLM-solution makes product development, engineering and purchasing much easier, speeding up innovation and new product creation.
Being faster in developing and producing new products is great, but products that collect dust on the warehouse shelf because they are waiting for texts, images and other information before they can be sold is not. This is where PIM comes in to the picture and helps to efficiently gather, enrich, translate and publish the product information to all channels and markets. As a result, it increases sales and turnover rate while reducing cost and tied-up capital.
The software industry has an abundance of three letter acronyms that can be confusing, and the often-conflicting descriptions of PIM & PLM is of course no exception. The truth is that PIM and PLM is an excellent combination where the solutions serves a different purpose, but together can be used to create the perfect information supply chain. The high-quality information that is produced when designing and purchasing products in the PLM system is exactly what the marketers need to re-use and re-purpose in the market channels. The PIM system aggregates information from the PLM and ERP systems and helps to efficiently enrich the product information with images, texts, video, documents and much more before it publishes it to all market channels.
Together, PIM and PLM greatly reduces the non value adding data maintenance, gives the users a complete overview, leads to high data quality, shortens time-to-market, creates consistency cross channels and much more. Companies that embrace the concept of PIM and PLM in combination have faster and more agile go-to-market processes, giving them the tools to be more successful and profitable than their competitors. We believe that the combination of PIM and PLM will soon become ubiquitous, but it is still time to have a heads up on your competitors.