IDC Names PTC a Leader in Retail PLM

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IDC Names PTC a Leader in Retail PLM

IDC Corporation’s new research report, “IDC MarketScape: Worldwide Retail Brand Product Innovation and PLM 2016 Vendor Assessment”, named PTC as a leader in the Retail Product Lifecycle Management (PLM) industry. The report examined the capabilities and strategies of 12 vendors and noted that PTC had a significant retail brand market presence, continuous growth and a wealth of experience and best practices to share with retail brands.

"The bar has been reset for excellence in retail brand product innovation and PLM platforms. Today's best-in-class capabilities enable the digital transformation of product optimize responsiveness to customers and suppliers.” - Leslie Hand, vice president, IDC Retail Insights.

Retail Market Factors
The IDC MarketScape report explains how the retail market for PLM software is growing rapidly and how a PLM solution can assist retail brands during this period of growth and transformation. When used appropriately, PLM processes and software can help retailers generate better ideas, manage product pipelines, design more efficiently, and collaborate across functional, organizational and geographical boundaries.

There are numerous market factors driving the popularity and need for retailers to adopt a Retail PLM solution:
• Product assortment complexity,
• Global expansion and competition,
• Mass customization and personalization of products,
• Value chain expansion,
• Increase in social networking data that fuels innovation,
• Untethered work and workers,
• And 3rd platform technologies.

Choosing a Retail PLM Vendor
The task of choosing the best Retail PLM solution for your organization should not be taken lightly, which IDC recognizes. The report also provides a guide on what to look for when trying to decide on a Retail PLM vendor. Things to keep in mind are:
• Knowing what’s possible, defining best practices, and developing road maps that meet current and future needs.
• Understanding the market for retail brand product innovation and PLM software.
• Aligning with vendors and partners that work with organizations similar to yours.
• Making sure line of business and IT are aligned.
• Interviewing references to learn about changes and solutions.
• Asking about R&D investments and platform advancements.

Overall, this report is a great resource for both retailers and consumers. The research and analysis completed in the process of developing it reflect how a technology buyer today would evaluate vendor capabilities, with an eye on how the company is digitally transforming to continue to satisfy customer needs. PTC’s FLexPLM® Solution has been recognized by IDC as a leading product innovation and Retail PLM platform.

To learn more, download the full report now!