Your customers want new, great products, and they want them now. The rise of the “see-now-buy-now” lifestyle is changing the way consumers shop, and retailers need to model this trend to survive.

The good news for retailers: Technology can help. The not-so-good news: Implementing said technology has been a really massive undertaking. I’m talking a big expense, months of implementation and testing, integration into your own systems, lots of conversations with a tech team and multiple change orders for custom functionality. In short, old school product lifecycle management (PLM) tools aren’t a picnic to deploy.

That’s where Bamboo Rose’s Live on Day One program for PLM and Sourcing comes into play. Yes – you can actually go live on the first day you purchase the product. Here’s how:

• We don’t think of PLM as a point solution: PLM works for so much more than just product creation; ideally, PLM connects communities through marketplaces and enables them to share ideas in real time. With this shift in mentality for PLM – and Sourcing – the entire process becomes more dynamic and efficient.
• We leverage the cloud: Bamboo Rose’s Marketplace is cloud-based, so we’ve ditched any necessary infrastructure and made the whole operation pretty plug-and-play. No costly infrastructure. On day one, you can invite your suppliers and other key stakeholders to sign up, log in and start sharing products or product ideas.
• We challenge the norm: Products can’t be developed in isolation any longer. Time isn’t on the retailer’s side, and long product development cycles are fatal. We need to change that paradigm through new norms of connectivity, innovation and community-building that are brand new to retail.

Modern PLM technologies promise something different for retailers – the ability to create innovative products faster than the competition without unnecessary burdens. In that sense, PLM IS dead – at least, the old PLM mindset is. And we say long live the new PLM.

What do you think are the three biggest PLM myths? Find out – and read about the realities – in our latest whitepaper.