PLM, COSMETIC REGULATION / 24-06-07
How to know that you need PLM for your cosmetics development projects
You work in the cosmetics industry and use spreadsheets to create your formulas? Learn now which indicators show that you need PLM for your cosmetics development projects.
Indicators that show you need PLM for your cosmetics development projects
If you work in the cosmetics industry, it's likely that you use spreadsheets such as Excel to create your formulas and design your products. When it comes to collecting and formatting data, these applications are effective. But when the challenge is to share information consistently and in real-time, bring collaboration into your business and keep up with the fast pace of the market, spreadsheets reveal their limitations. Let's look at 5 signs that spreadsheets are no longer optimal for your cosmetic development projects, and you are ready to upgrade to a PLM solution.
Managing high volume of critical information: exceed the limits of your cosmetic formulation spreadsheet
In order to ensure effective data management in the development of cosmetic projects, it is essential to be aware of the challenges associated with the handling and storage of large amounts of information. However, the widespread use of spreadsheets for cosmetic formulations often leads to errors, incorrect files and even total loss of information due to human errors. These spreadsheets have limitations in terms of version control, data review and validation, and information locking. They also have quantitative limitations in terms of dependencies that can be created between various items. This makes it difficult to effectively manage critical elements, especially the complex information structures of manufacturing - like multi level BOMs with links to raw material information, cost updates within an ERP and supplier stock levels, etc. Faced with these challenges, PLM has emerged as a solution that guarantees to secure and store all this data.Reactivity in the market with a high rate of innovation: move from spreadsheets to PLM
In an environment where trends are changing rapidly, staying at the forefront of innovation and demonstrating scalable flexibility are key to succeeding. This dynamic means that new formulas must be developed in record time, while at the same time responding to regulatory changes, volatile consumer behavior and inevitable traceability standards. In this context, the use of spreadsheets to formulate cosmetic products is proving ineffective if you handle a large number of products or increase your range by more than 20% each year. They do not provide the level of flexibility and scalability that this business requires. They are therefore a threat to your ability to remain responsive. Integrating a PLM solution is a significant advantage to your business because it accelerates time to market.Cross-functional team management: overcome the limitations of your product development spreadsheet.
Product development often involves collaboration between different operational teams. However, this collaboration is hampered by the fact that each team uses its own models and spreadsheets. This diversity of tools leads to managing large files with many disparate tabs and datasets, making consolidating information into a single document extremely complex, even impossible. These IT silos have a number of dramatic consequences: significant wasted time, an inability to share information effectively and in real time across your teams, costly errors and a lack of overall, cross-functional visibility. By using PLM, you can establish a single version of the truth and open access to other users and teams. This facilitates collaboration, in real time, and ensures consistent and securised information throughout the product development process.Managing a dispersed product development team: say goodbye to Excel spreadsheets.
If your organization operates across the globe, with geographically dispersed teams, employs a remote workforce or has rapid global expansions, there is a good chance you have got a diverse team. This diversity means team members work in different places, at different times and with different approaches. Managing the flow of information becomes critical. It requires key elements such as security, sharing, collaboration and data traceability. In such organizations, traditional spreadsheets quickly reach their limits as they are not specifically designed to support the needs of a complex collaborative organization. PLM, on the other hand, facilitates the adaptation, secure management and efficient monitoring of information flows. This is essential for companies operating in a global and dynamic environment.The increasing need of reporting: adopt a PLM cosmetics formulation software.
Establishing operational goals is essential, as is monitoring them. You need to track strategic business objectives using KPIs and accurate, real-time reporting. So, you need to be able to monitor your activities using accurate, real-time reports. However, this level of analysis is not easily accessible when using tools such as multiple spreadsheets or siloed data sources. If your organization is unable to analyze the product or project portfolio, renew and innovate rates, and identify development opportunities, it's probably because you've outgrown the functionality of disparate spreadsheets. You need to move to a robust PLM-type solution. This software includes reporting capabilities that provide a complete view of your business, with in-depth analysis of company and product performance, as well as the impact of your business lines on each other.If you tick any or all of these boxes, it means that spreadsheets are no longer enough to formulate and develop your cosmetic products. It is time to transition to a single solution, PLM cosmetic formulation software. This integrated solution is a central tool facilitating remote and global collaboration and enables rapid innovation by overseeing every phase of development, from design to consumer. This tool is essential for responding to the dynamics of the market and for the efficient management of large volumes of data, reports and complex analyses. For players in the cosmetics industry, investing in an innovative PLM solution is the first step in a successful digital transformation. This enables you to gain a competitive edge and ensure continuous growth in a dynamic and ever-evolving market. The Coptis Lab PLM Solution is the benchmark in the cosmetic R&D market. With Coptis Lab, it has never been easier to comply with international regulations, track market trends, and collaborate with all stakeholders to create sustainable and innovative products. It ensures growth and prosperity in an ever-changing market.
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