Rapid market shifts challenge food & beverage (F&B), cosmetics & personal care (CPC), grocery and household products companies to effectively bring profitable goods to market. Product development by spreadsheets, email or inefficient legacy Product Lifecycle Management (PLM) software are roadblocks to innovation. Businesses reliant on these systems face manual processes, integration barriers, outdated data capabilities and slow decision-making. A modern solution like Centric PLM™ offers agile, scalable and real-time data that drives efficiency, accelerates innovation and sharpens competitiveness for the future.

Definition of Product Lifecycle Management (PLM)

A PLM platform is a transformative solution that supports all critical aspects of product development for the food & beverage, cosmetics and household products market. PLM incorporates all the iterative, collaborative and creative processes that make up the vital elements of a product’s lifecycle: concept, formulation, benchtop samples, plant trials, costing, nutrition labelling, ingredient list generation, specifications, packaging and commercialization. In short, all the processes that define the brand, engage the consumer and differentiate the company’s products in the marketplace.

With an effective PLM solution in place retailers, brands and manufacturers can optimize new product development, drive cross-team collaboration, and make better, more strategic business decisions.