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Food and beverage, cosmetic and retail industries

Mismanagement of information: What are the consequences?

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  • July 14, 2017
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Faced with a highly competitive market and increasingly demanding standards, it is becoming essential for companies to be able to effectively manage and track all product-related data, from the design to the marketing of that product.

Whatever the sector of activity, very few products are unchanging.

Change is a constant rule, not something  that happens occasionally:

  • The placing on the market of a new product implies taking into account an increasing number of information related to the product and its components;
  • Companies are constantly searching for new opportunities, so even “best sellers” are subject to revisions designed to improve profits.

What are the consequences of mismanagement of information?

However, most companies rarely have an information system to adequately and centrally manage all the data needed to launch a new product. Existing systems, mostly manual and non-shared, are often inadequate and unable to provide timely information.

As a result, there are the following consequences:

  • Scattered and duplicated data in different locations. Each department uses its own information and data and acts in isolation in the product development process causing confusion and disarray,
  • Lack of collaboration and integration among consumers, project team members, and suppliers,
  • Processes for launching new products which are, today, too unorganized and formalized,
  • Errors in the design process of the new product: erroneous document updates, information retrieval, etc.
  • Insufficiently precise data to meet regulatory requirements (eg data that are essential to correctly constitute the PIF (Product Information Folder) in cosmetics).

A company needs a flexible and transversal tool for the development of new products, capable of meeting the specific business requirements of each department.

Discover our PLM solutions to avoid these consequences here.

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