Armed with smartphones and tablets, customers are increasingly sophisticated, knowledgeable and demanding. Consumers want differentiated products and services that meet stringent environmental compliance standards. In this environment, retailers face unprecedented complexity when designing, sourcing and manufacturing their private label products.
To compete in today’s global marketplace, retailers must offer innovative and compatible products at competitive prices. But the complexities of global commerce are daunting. There is no one-size-fits-all approach. Different regions require different styles, sizes, voltages, features, and compatibility specifications.
Pressure to increase margins is driving innovations in the production network to the shop floor. To meet global demand quickly and efficiently, production sites must be able to adapt quickly to change.
To compete successfully, retailers must connect their design teams with logistics, purchasing, and manufacturing operations. Optimizing the use of components, streamlining product configurations, and ensuring product traceability are essential.
An integrated product development process helps retailers shorten development times, reduce material and component costs, and enable smoother production ramps. This process contributes to shorter change cycles, better products, continuous quality assurance, and differentiated offerings that help build brands and grow market share.