Published on : Feb 15, 2016
Perhaps one of the bigger changes in the global market for consumer and retail products in terms of end-use industries is the adoption of new age PLM solutions. The market is in a constant state of flux thanks to the shifting interests from conventional end-use sectors to the more unconventional ones. This includes the boom in the industries of packaged goods and the industry of retail grocery. Both industries, along with many others, are finding major scope of growth in the developing economies of the world, including the ones in Asia Pacific and South America.
All Industries Assume Adoption of PLM Solutions
As it stands, it is not just the large enterprises that are resorting the PLM solutions. Even small and medium-scale companies are beginning to see the advantages of applying PLM solutions internally in order to increase efficiency and improve product management between the retail product and customer management.
Samsung Shows How it is Done
Samsung Electronics, the consumer electronics giant from South Korea, has launched a flurry of products that aim at creating a smart living environment for its users. These appliances include a printer that makes use of Android, a smart refrigerator which comprises five different functions, a hot blast microwave oven, a new line of smart washing machines, and as always, new smartphones. The new TVs released by Samsung are expected to be powered by the company’s own Tizen OS, which will allow the TVs to incorporate smart features such as HDR and enhanced contrast ratios. All these technologies are pointing to the fact that more and more companies in the consumer products industries are beginning to see the importance and advantage of helping users create their own Internet of things in order to make things easier and faster.
Improved Consumer Spending also Signals Positive Times Ahead
The number of consumers with higher disposable incomes is increasing regularly. This is good news for the global industry of consumer products and the packaged goods industry. Annual festivals, such as the Spring Festival held in China, show that holiday seasons are the most profitable for consumer products companies.