Product Development Cycle in Fashion Supply Chain Management and the Potential Benefit and Issue Relating to the Use of Product Lifecycle Management (Plm) Systems Essay
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Product development cycle in fashion supply chain management and the potential benefit and issue relating to the use of product lifecycle management (PLM) systems
Fashion is one of the biggest industries in the world. Having 4 basic season a year and more different season according to the retailer, customers expectation on the product changing frequently, it was easy to have more that hundreds of style of product per year for a well-known brand in US. In order to provide all the style fitting their target customer's need, a cycle of product development will hold to design product customer may want in the future and develop it to merchandise.
In order to satisfy the market needs and keep the brand competitive in the market, designers need to do different type of research and analysis to get the idea of what the market want. But after knowing the demand, several of products will be designed base on the concept and developed so finally can come up with a product that can fit and sell to the target customers. To develop merchandise from design to product, many process and modification are needed.
Apparel design and developing a line takes about 6 to 9 months, i.e. all forecasting for a season was made 9 months ago. But in a fast changing market as fashion, the trend can change rapidly and as few months pass, the forecasting may differ from what designer projected. So to make the product satisfy to the need, change in style, color must be made. However, each change can be costly and increase the possibility of product cannot release to the market on time and result a huge lost. To minimize it from happening, a short product development cycle and effective communication among company and parties are critical.
What is product development cycle and why is it important
Product development is basically to get a new product or service to the market,