Successful retailers have invested handsomely in their customer relationships. They know what their customers want, and they know how to give it to them. And they also know that they’ll continue to see dividends from this investment of time, energy, and money if they can maintain engagement and loyalty.
But as the trust and relationship grows deeper, so will the demands of your consumers themselves. You worked hard to build your brand, and you need the tools to help you protect it.
Today’s business environment is complex and fraught with new risks. The modern consumer has more information at their fingertips than ever before. They are more aware – and more demanding – of the ingredients and impacts of the products they’re purchasing. Couple this with the fact that news and criticism can spread incredibly fast, you must be ready to react.
You want and need a trusted source of truth within your organization to quickly access an overview of your products, sites, and suppliers, particularly in time of a crisis. Today’s modern PLM solutions – like Trace One’s PLM for Retailers - give you that piece of mind.
ACT: Unlock your data to achieve remarkable results
The Trace One platform is designed to help brand owners from local producers to global bluechip retailers, and everyone in between, build their businesses, increase social impact, and overcome complexity. All to deliver remarkable products that consumers trust.
To make this as simple and synergistic as possible, we created one inclusive platform with multiple interlocking business applications for users to collaborate on the management of product innovation, specification, safety and quality, a marketplace to promote and discover new products, an E-sourcing solution to manage RFPs in one place. Each fills a vital role and can be used as a standalone solution. Together they can give brand owners a truly remarkable edge.
GROW: Create new products and innovations to reach consumers faster
The lifeblood of successful retailers is staying on top of consumer trends and stocking their shelves with innovative products that their customers are clamoring for. You need to remain nimble in product development and have a suite of tools at your fingertips to manage your R&D workflow, particularly as you scale.
As you add more complex products to your portfolio – for example, adding in freshly prepared meals where before you only stocked shelf-stable private label goods – the need for data management grows exponentially.
Avoid the pitfalls of relying on antiquated product management solutions like spreadsheets and binders and bring your team in to the digital age with secure, cloud-based, globally accessible product lifecycle management tools like Trace One.
PROTECT: Ensure remarkable quality in everything you manage
Brand trust and integrity is paramount to any business’ long-term success. Brand is what your customers think of you, and you need to protect that image. Ensuring that you can fully stand behind your products is not only the right thing to do, but also critical for your long-term stability.
High quality, consistent products are table stakes in your business, but you can still differentiate yourself on the shelf with excellent packaging design. Raise the bar on your creative with the tools built-in to a cutting-edge PLM solution.
By utilizing the product data right from the source, you will improve your accuracy and agility throughout the packaging design process and get to market faster with a better product than the competition.
Get it right the first time with fewer iterations in the design process.
Reduce product recalls due to labeling errors.
Speed up time to market through standardized processes and improved collaboration.
CONQUER: Reduce risk as you expand to new global markets
An important avenue for continued growth for retailers is expanding their presence into new markets and new countries, but this can be a daunting and risky endeavor. With nearly every new market you enter you’ll be subject to new regulations where you need to remain in compliance, both for new and existing products.
Keeping these regulatory requirements straight – and just as importantly, up to date – traditionally requires large teams of experts expending lots of energy, just to keep up. Today we are pleased to offer a more efficient solution: a global database of constantly-updated regulatory information that syncs perfectly with your PLM for rapid go/no-go decisions on your products.
Developing successful products is hard enough; reduce your stress, complexity, and risk with end-to-end integrated compliance checks throughout the product development process with Trace One’s PLM for Retailers.
Businesses have a lot to protect and have a lot to gain from improving their product management processes. Investing in a PLM solution will allow you to keep doing what you do best, only better: delivering innovation for your customers. Book a demo today to learn more about how PLM can benefit your brand's needs.