Ever wondered how efficient your organization’s product lifecycle management is compared to others? Here are some helpful facts:
In 9 out of 10 CSPs, Marketing and Product are the teams that manage PLM.
However, that’s not to say that other departments aren’t involved. Customer Service may only be the primary influencer for 16% of operators, but it’s the secondary influencer for 81%.
And you don’t need to keep it all in the family. As much as 85% of CSPs collaborate with third parties for their PLM.
Consider not just WHO manages PLM but also HOW you do it. 60% of CSPs handle their product optimization manually, while an additional 33% use a semi-manual approach.
17% of operators developed their own PLM process and 13% use a third-party solution. This relatively low percentage, coupled with the statistics in the bullet above, indicates room for improvement in CSPs’ PLM automation and efficiency.
SO WHAT’S THE TAKEAWAY?
Dividing the PLM process among numerous individuals and/or departments means more delays, missed opportunities, extra costs, and an increased scope of inevitable human error. Secondly, manual or semi-manual processes will no longer be a viable option once numerous change-drivers collide with the market. Thus, CSPs will soon need a centralized, automated template that all departments can work off of to produce a consistent, end-to-end process.
Want to read more? Download our whitepaper about product lifecycle management.