To keep up with consumer demand and fast fashion trends in the retail and apparel industry, JCPenney realized that it had to decrease the amount of time it takes to develop a new product line from several months down to a few weeks. To accomplish this objective, JCPenney launched its Cycle Time Reduction initiative, an enterprise-wide program focused on shortening the amount of time from conceptualization to merchandise delivery.
In addition to experienced talent and efficient processes, this initiative required the implementation of a robust technology solution – PTC’s FlexPLM software. Based on PTC’s Windchill® technology, FlexPLM is an intuitive, Web-based solution that streamlines communication, tracks milestones, pre-empts performance bottlenecks, and provides instant visibility throughout the product development chain. Highly scalable and fully configurable, FlexPLM enables global product teams to work more efficiently and productively.
“The ability to respond to customer needs quickly and deliver merchandise efficiently is critical to delivering on JCPenney’s vision to be the preferred shopping choice for middle America,” said Peter McGrath, executive vice president, production development and sourcing, JCPenney. “As an important enabler to our Cycle Time Reduction initiative, FlexPLM is a robust infrastructure that spans our global supply chain, enabling our Associates to collaborate more effectively and deliver merchandise that inspires our customers.”
Throughout the last year, the IT team at JCPenney worked with PTC’s solution and implementation team to define and maintain the project’s scope across several functional groups in order to ensure the project was completed on time and on budget for the first three product divisions. This goal was achieved, and JCPenney is now planning to roll out the retail solution to other divisions within the company and its extended supply chain.
“Strong vendor collaboration and a streamlined approach to product development is a major element of any successful PLM value equation,” said Kathleen Mitford, vice president, vertical market strategy, PTC. “JCPenney understands the value of PLM in that it gives the company visibility from product concept to retail delivery. We are happy to continue our work with JCPenney as it implements FlexPLM across its organization.”
About PTC Solutions for Retail
PTC® solutions for retail are designed to meet the product lifecycle management requirements of retailers for their private label product offerings. These web-based solutions are comprised of FlexPLM™ and provide configurable functionality to meet the development requirements of soft and hard goods. PTC is a leading provider to top retailers worldwide.
PTC (Nasdaq: PMTC) provides leading product lifecycle management (PLM), content management and dynamic publishing solutions to more than 50,000 organizations worldwide. PTC customers include the world's most innovative companies in manufacturing, publishing, services, government and life sciences industries. PTC is included in the S&P Midcap 400 and Russell 2000 indices. For more information on PTC, please visit http://www.ptc.com.
Except for the historical information contained herein, matters discussed in this news release may constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected. These include: the success of our initiatives to facilitate our customer's understanding of the benefits of our PLM solutions for the retail industry, including interoperability, quality, return on investment and value creation; our ability to continue to successfully develop and integrate the technology necessary to offer an integrated product development system for the retail industry that adequately responds to evolving customer requirements including the system’s ability to facilitate global product development and control all aspects of the development cycle so that products are delivered to the marketplace quickly; and our ability to achieve our growth objectives by extending our solutions to vertical industries, beyond the discreet manufacturing verticals traditionally served by PTC; as well as other risks and uncertainties detailed from time to time in reports filed by PTC with the Securities and Exchange Commission, including the Company’s most recent reports on Form 10-K and 10-Q. The announcement of any particular selection of PTC products is not necessarily indicative of the timing of recognition of revenue from such order or the level of revenue for any particular period.
PTC and its logo, The Product Development Company, FlexPLM, Windchill and all PTC product names and logos are trademarks or registered trademarks of Parametric Technology Corporation or its subsidiaries in the United States and in other countries.