Role of Product Lifecycle Management and Bill of Material in Fashion Industry

This study examines the transformative roles of Product Lifecycle Management (PLM) and Bill of Materials (BOM) in addressing challenges and driving innovation in the fast-paced fashion industry. PLM emerges as a catalyst for enhanced collaboration, reduced time-to-market, and improved efficiency throughout the product lifecycle. Statistical evidence reveals widespread PLM adoption, with over 70% of fashion companies integrating these systems, resulting in a 40% improvement in cross-functional collaboration and a 20–30% reduction in time-to-market. Simultaneously, BOM proves indispensable for operational excellence and sustainability, offering granular material inventory management. Companies utilizing advanced BOM systems report 80% improvement in material management efficiency and a 15–20% reduction in product development costs. The synergistic impact of PLM and BOM reshapes the fashion ecosystem, positioning the industry for a future where innovation, efficiency, and sustainability converge.