How Can Process Automation Improve Product Lifecycle Management in Consumer Goods?

In the fast-paced consumer goods industry, companies like Newell Brands are under constant pressure to innovate, manage complex product portfolios, and respond quickly to changing market demands. Efficient product lifecycle management (PLM) is crucial for streamlining operations, from initial concept through to the end of a product's life. Process automation is proving to be a game-changer in PLM by enhancing productivity, reducing time to market, and improving data accuracy across each stage of the product lifecycle. By integrating automation into PLM systems, consumer goods companies can drive operational excellence and remain competitive in a crowded marketplace.

One of the primary benefits of process automation in PLM is enhanced collaboration across various teams involved in product development. The product lifecycle involves multiple stakeholders, including product designers, marketing teams, supply chain managers, and manufacturing units. Traditional methods often rely on manual processes to share data, leading to delays, miscommunication, and errors. Process automation can integrate workflows between these departments, allowing seamless collaboration and real-time data sharing. For Newell Brands, this would mean that design changes, market insights, or material specifications can be automatically updated and communicated across teams, ensuring everyone is working with the most current information. This minimizes the risk of costly errors during production and accelerates decision-making.

Process automation also allows for more efficient version control and documentation management. In industries with a high volume of product iterations and updates, keeping track of documentation can be cumbersome. Automated systems can track every change made to a product's specifications, designs, and materials, creating an easily accessible version history. For companies like Newell Brands, which manage diverse product lines ranging from kitchenware to writing instruments, automating the documentation process ensures compliance with regulations, reduces errors, and saves time. These systems can also automate the generation of compliance documentation, ensuring that products meet the necessary regulatory requirements without manual intervention.

Another significant area where process automation improves PLM is in accelerating time-to-market. In the consumer goods industry, speed is essential to capitalize on trends and meet consumer demands before the competition does. Automated systems streamline the product development process by eliminating bottlenecks, automating repetitive tasks, and enabling faster approvals. For example, automation can reduce the time spent on tasks like product testing, packaging design approvals, or bill of materials creation. By automating these processes, Newell Brands can get products from the drawing board to store shelves faster, giving them an edge in a highly competitive market.

Data accuracy and integrity are also key benefits of automating PLM processes. Manually entering and updating product data across different systems increases the likelihood of human error, which can lead to costly mistakes during production, sourcing, or marketing. Automated systems centralize data management, ensuring that all departments are working with a single source of truth. For companies like Newell Brands, which manage large product portfolios, having accurate, up-to-date information is critical for maintaining product quality and ensuring consistency across global markets. Automation reduces the risk of data discrepancies and ensures that everyone involved in the product lifecycle has access to the correct information.

Cost management is another area where process automation delivers significant benefits. PLM is a complex process that involves various cost factors, from research and development to manufacturing, packaging, and distribution. Automating cost tracking allows companies to monitor expenses in real time, providing better visibility into the financial impact of decisions made throughout the product lifecycle. For Newell Brands, automation can help identify areas where costs can be reduced‚ whether through more efficient material sourcing, optimized manufacturing processes, or better inventory management. Automated cost analysis enables more accurate budgeting and pricing strategies, helping the company maintain profitability even as market conditions fluctuate.

Moreover, process automation enables predictive analytics in PLM, helping companies anticipate future product performance based on historical data and market trends. Automated systems can analyze vast amounts of data, including sales figures, customer feedback, and market conditions, to predict demand, identify potential supply chain disruptions, and inform product innovation. This level of insight allows companies like Newell Brands to make data-driven decisions, reduce risks, and develop products that align with consumer preferences and market needs. By leveraging automation for predictive analytics, companies can stay ahead of the curve and ensure their product development strategies are aligned with future growth opportunities.

In addition to improving efficiency, process automation supports sustainability initiatives within product lifecycle management. With increasing pressure on companies to reduce their environmental footprint, automating sustainability tracking ensures that products are developed and manufactured in compliance with sustainability goals. Automation can track the environmental impact of materials, waste generated during production, and energy consumption across the product lifecycle. For Newell Brands, integrating sustainability metrics into automated PLM processes allows the company to maintain compliance with environmental regulations, enhance its corporate social responsibility efforts, and appeal to eco-conscious consumers.

Ultimately, process automation transforms product lifecycle management by enhancing collaboration, improving data accuracy, accelerating time-to-market, and enabling more efficient cost and sustainability management. For companies like Newell Brands, adopting automation in PLM is essential for staying competitive, driving innovation, and responding quickly to market demands. As automation technology continues to evolve, its impact on PLM will only grow, helping consumer goods companies streamline their operations and thrive in a rapidly changing market.