PTC Retail Wraps Up ‘Banner Year,’ Teases Update for FlexPLM
As 2020 comes to a close, PTC Retail described it as a “banner year” with business growth in all of the key metrics the company measures including “customer partnerships, enterprise-scale expansions and cost-effective upgrades” to its technology.
“Demand for PTC FlexPLM, retail’s most widely used PLM platform remains high, and with breakthrough PLM innovations and ongoing enhancements, PTC Retail has supported its unmatched, global customer base through the year’s complex, heightened challenges,” the company said in a statement.
In the fashion apparel and retail space, FlexPLM customers include Adidas, Burberry, Deckers Brands, Home Depot, Lacoste, Marks & Spencer, Patagonia and Ralph Lauren, among others. “This year saw the announcement that more people use FlexPLM daily than any other fashion or retail PLM platform, and that considerable margin has grown further,” the company noted. “Throughout 2020, multiple existing customers have increased their reliance on FlexPLM, by adding new users in volume, or by increasing their collaboration with supply chain partners — enabled by FlexPLM’s industry-leading reach among vendors and agents, with more than 50,000 supply chain users worldwide.”
But PTC Retail is resting on its laurels. The company also teased that a “milestone new release, FlexPLM Version 12, is also coming in early 2021.”
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Bill Brewster, senior vice president and general manager of PTC’s Retail Business Unit, said this year has been a unique year for every industry, “but in retail, the primary reason organizations seek out new technology remains the same: gaining an edge in a hyper-competitive market.”
Brewster said from that perspective, PTC has emerged as a “preferred choice” in the industry, and added that from “faster time to market to digital product creation, the pressures of the retail market have become more pronounced in 2020.” As PTC’s solution addresses these current market demands, Brewster said he is confident that 2021 “will begin with further international growth for PTC Retail, as we reveal Version 12 of FlexPLM and other milestone innovations early in the new year.”
Peter Johansson, PLM project manager at Stadium, Sweden’s largest sports chain, praised PTC’s solution, stating that it was “essential that we found a vendor that was forward-thinking and whose reach extended beyond just PLM, with innovations such as 3-D capabilities and artificial intelligence.”
Johansson said he chose cloud-based FlexPLM “so that we could implement a streamlined best practice approach to planning, product design and development, sourcing and supplier collaboration, with simple storing and sharing of data across our business, as well as enabling our employees to work seamlessly from home during COVID-19.”
Digging into the numbers, PTC Retail said this past year FlexPLM users have exceeded their own expectations by reducing time to market “by up to 45 percent across different product categories” and improving productivity “by up to 30 percent [while] slashing millions from their material budgets.”
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