BOSTON--(BUSINESS WIRE)--Bamboo Rose today announced a new option for retail product lifecycle management (PLM) that is shaking up product development and sourcing: A cloud-based marketplace that gets retailers and suppliers sharing, co-creating and sourcing on day one after a lunch-and-learn training session. After extensive testing at some of the world’s largest retailers in Asia, North America, and Europe, the company is offering its Live on Day One PLM program to retailers, brand companies, suppliers and agents.
“Typical PLM approaches are used too late in the innovation process because they require a lot of information too early in the cycle,” said Sue Welch, CEO of Bamboo Rose. “A lot happens before designers, buyers and suppliers are ready to commit to developing a product at a detailed level. Our Live on Day One PLM program focuses on the early creative and sourcing process where designers, merchants and suppliers capture and share inspirations about ideas and products. Live on Day One compromises none of the benefits of traditional PLM and sourcing platforms, but expedites the process by weeks – if not months – so your team is innovating quicker.”
Live on Day One connects retail communities on the very first day to get them designing and sourcing product and ideas in a co-creative approach with suppliers. This means product development starts much earlier in the cycle and is faster and far more efficient than traditional methods.
Retailers can strip six weeks out of the product lifecycle and have realized an 85 percent reduction in sampling costs. One major department store saw tangible benefits when its products were created collaboratively, including a double-digit percent increase in sales, as the new designs appealed to a broader customer base. The cloud-based approach to PLM and sourcing also means there is no costly infrastructure investment.
Companies can invite other team members, designers and suppliers to join the community, spurring instant collaboration and innovation. One major component in the platform’s success is the natural way in which users engage, which is like how consumers interact in everyday life.
“Our marketplaces give retailers a way to start shopping on the backend just like consumers do – in a social, dynamic and connected way,” said Welch. “For too long, PLM has been a disconnected, tedious process that doesn’t tap the creative side of retailers. We’re changing that norm with Live on Day One.”
About Bamboo Rose
Bamboo Rose provides a product innovation platform that connects the B2B retail community through design, development, and delivery. We simplify the product creation and delivery process from start to finish, helping companies bring great products to market. Our collaborative B2B marketplace is powered by proven Trade Engines, our intelligent product lifecycle management (PLM), that helps retailers discover great products virtually, develop and deliver products to global markets faster, more efficiently and at higher margins. Headquartered in Gloucester, Mass., Bamboo Rose serves over 80 major retailers and 400 brands (including American Eagle, Family Dollar, Lowe’s and more) and connects 35,000 suppliers and 150,000 user members. Learn more at bamboorose.com, or find us on Twitter at @GoBambooRose.