3 Key Ways PLM Software Facilitates Innovation in the Food, Beverage, Cosmetics and Personal Care Industries
Innovation is a necessity for keeping your consumer goods brand relevant and profitable, especially in the trend-driven industries of food, beverage, cosmetics and personal care items. To capture the attention of today’s discerning shoppers, stay ahead of the competition and expand your business’s share of the market, you’ll need to push new product development (NPD) and iterate on existing lines to tune them to the preferences of the moment.
Of course, that’s a lot easier said than done, as those processes entail many complex steps and the involvement of several teams across multiple disciplines. They also require a significant commitment of resources—funds, time and effort—making it very important that you carry them out successfully and can reap a healthy return on investment (ROI).
For those reasons, taking on the key objective of innovation using outdated methods and paper-based systems is largely considered a liability in today’s modern world. Thankfully, though, there are solutions that help you overcome the challenges we’ve mentioned, and they come in the form of purpose-built technology.
There’s good reason to believe that implementing the right digital platform can help improve your outcomes in multiple ways, too. McKinsey & Company research shows that digitally enabled innovation allows consumer goods companies to bring new products to market 50% faster, at a third lower cost and with double the ROI.
And when it comes to the specific solution best suited for NPD, there’s no better choice than industry-specific product lifecycle management (PLM) software. That’s because these systems act as a unified repository for all related information, come packed with features for the exacting tasks of your dedicated professionals and facilitate cohesion as projects progress through the contributions of multiple departments.
Each of these three points warrants further exploration, as well as a breakdown of the specific features related to them and the associated benefits for food, beverage, cosmetics and personal care companies. We’re here to cover each in detail and also highlight the ways that Aptean PLM Lascom Edition stands apart from other alternatives on the market.
The recipe and formulation features of PLM systems enable your designers and developers to dial in product parameters according to exacting standards while also referencing all previous versions and test results to inform their approach.
1. Centralising Data in a “Single Source of Truth”
The value of data can’t be overstated, and that’s particularly true when your business is engaging in innovation through NPD, as there are many variables at play and accuracy is critical. You can’t afford to have individuals operating in informational “silos” or working from their own separate versions of key files, facts, or figures— everyone must be on the same page and playing from the same “playbook.”
That’s where the document and specification management features of PLM systems come in, as they allow you to effectively manage the data and digital records associated with end products and their components via convenient and accessible electronic document management (EDM) functionalities. This promotes greater precision and consistency, as all users can tap into the “single source of truth” that the software provides and use the knowledge they gain to enhance your new offerings.
What’s more, indexing and searching tools make finding the information you need much easier and more convenient, as it’s just a few keystrokes or clicks away. That helps your team members proceed through their tasks more efficiently without sacrificing accuracy and also allows for side-by-side comparison of components to determine the best match for the needs of the item in development.
Lastly, we should call attention to one of Aptean PLM Lascom Edition’s features most valued by customers, that being dedicated product brief adherence functionality. This is crucial in the food, beverage, cosmetics and personal care markets, as it helps to ensure that your innovative products truly deliver on their unique value propositions, even as they evolve in the course of NPD. Plus, the verification process is automatic, and alerts are deployed if deviations are detected.
Imagining PLM in Action in the Cosmetics Industry
As an example use case of PLM software’s data management functionalities—specifically, the utility of the searching and indexing tools—first think of a cosmetics manufacturer. In response to consumer demands for a greater variety of product colours, the business is developing several new shades in a lineup of nail polishes. Perhaps the designers decide on a bright aquamarine as one of the pigments they want to use, as that version of the company’s eyeliner has been popular in the past.
The component information on that pigment is already in the PLM system as a result of its prior incorporation of another product, and thus it can be searched up quickly without an individual having to re-enter the same information. Besides saving them time, it also prevents redundancy in data while also helping the brand get fresh new looks on store shelves that much quicker.
2. Providing Tools to Master the Development Process
Even the most creative minds need help bringing their flow of ideas and sketched-out concepts to fruition as successful consumer goods. The creation, prototyping and iteration of products require tools built specifically for those purposes, as otherwise it can be difficult to fine-tune a food, beverage, cosmetic or personal care item according to the emergent tastes of shoppers.
The recipe and formulation features of PLM systems enable your designers and developers to dial in product parameters according to exacting standards while also referencing all previous versions and test results to inform their approach. The solution can also automatically generate Product Information Files (PIFs), ingredient lists, nutritional facts and costs based on the ingredients used, saving your dedicated professionals the time they’d otherwise spend conducting these tasks manually.
Component management functionalities take this a step further, giving your team members all the details on the materials they’re considering for incorporation in a product. That includes the information available in builtin databases—which in the case of Aptean PLM Lascom Edition includes the USDA National Nutrient, CIQUAL and INCI repositories—as well as allergen lists to identify those concerns and any necessary disclosures or declarations.
Additionally, the programme management tools offered by our PLM solution make it much easier to launch a full line of new products by helping to maintain their consistency while also facilitating variations in flavour, shade, package size or another variable. That’s thanks to how the software ties all of them together under one “programme” but still maintains the individual items as their own “projects.”
Of course, there are still further considerations to cover before you can launch to market, among the most significant being the labeling and packaging of your goods. Industry-specific PLM software has you covered here too with dedicated functionalities, and our solution stands out on this front with enhanced compatibility for international labeling requirements, various regional formats and multi-language support.
Imagining PLM in Action in the Food and Beverage Industry
To get an idea of how PLM software’s features for product development can make bringing an innovative new product to store shelves easier, consider a manufacturer in the frozen food vertical working on a new meat-free version in its line of shareable savoury appetizers. This is the first time the business’s employees have worked with mycoprotein, and thus they must account for the differences in nutritional values compared to chicken, beef or pork.
With a PLM solution in place, they can simply tap into the integrated USDA National Nutrient database and pull that information without needing to manually track it down and perform the various calculations necessary based on the amount of mycoprotein used. They save a significant amount of time, accelerating the new launch’s time to market, while also ensuring accurate nutritional values and ingredient info are included on the product packaging.
3. Serving as a Platform for Company-Wide Collaboration
We alluded to the importance of teamwork in the NPD process before, but it’s worth reiterating just how vital it is to have all involved members of your organisation actively engaged, especially if you’re expanding into new territory or trying a creative new take on an existing staple in your lineup. After all, to maximise your chances of success, you need to take into account a host of different considerations and fully leverage the expertise of your staff.
The intuitive commenting features that PLM solutions offer make it easy to share information and revise plans based on the diverse perspectives of various specialists. Whether they’re chiming in to suggest an avenue that hasn’t yet been explored or flagging a concern that could result in a setback later on in the project, it’s invaluable to be able to converse on the platform in real-time as you move forward in the journey.
The supplier portal provided by Aptean PLM Lascom Edition extends the opportunity to collaborate to external partners as well. It allows vendors upstream in your supply chain to feed information directly into your system. With all the details on your components and packaging materials coming straight to you from the source, you not only have greater assurance that the data is accurate—you can also identify when it’s time to pivot in direction in light of new information.
Finally, there’s one more feature of our PLM software for process manufacturers to point out here, and that’s the robust workflow engine. With this powerful tool on their side, your project managers will be able to quickly identify bottlenecks or delays in your development processes and better balance team workloads. Better still, it’s very user-friendly, with easy-to-read Gantt charts and observable milestones by which you can track your progress.
