Product Specification Management is the processes an organization uses to develop, configure and manage their product specifications from raw materials through intermediate materials to the finished product, including Packaging components. This includes various work flow and approval processes which are implemented to maintain the quality of the products which are being developed as well as enhancing currently existing product lines.
Significant benefits can be derived by companies by standardizing their Product Specification Management systems and implementing structured solutions. These benefits include the ability to maximize the brand values of their organizations through the efficient processes and centralized product management of their specifications. They can also realize improved time to market along with a harmonization of their various product ranges. Centralized Product Specification Management systems also provided greater collaboration of a disperse product development team both nationally and internationally. Organizations can also reap signification benefits through more centralized purchasing focusing on strategic partners in different markets and different supply chains.
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