US-based PLM provider Bamboo Rose has unveiled a new option for retail product lifecycle management (PLM) that it says can strip six weeks out of the product lifecycle and is far more efficient than traditional methods.

The Live on Day One PLM programme is a cloud-based marketplace that Bamboo Rose says will get retailers and suppliers sharing, co-creating and sourcing after just one lunch-and-learn training session.

"Typical PLM approaches are used too late in the innovation process because they require a lot of information too early in the cycle," explains 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 programme 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."

Companies can also invite other team members, designers and suppliers to join the community, while the new approach also means there is no costly infrastructure investment.

"Our marketplaces give retailers a way to start shopping on the back-end just like consumers do – in a social, dynamic and connected way," adds 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."