Consumer products and retail industry is one of the lucrative markets in the whole world but it has its own set of challenges. Whether it is about rising cost, slow growth or other, achieving sustainable performance improvement requires innovative strategies, perspective, and perseverance. Moreover, educated and digitally savvy consumers pushing companies towards customization, transparency and tailored delivery. Further, the digitalization of everything has given birth to unrivalled opportunities and threats to the world’s Retailers and Consumer Product companies. Consumer products and retail companies need to balance conflicting challenges. Brand name and private label manufacturers must create innovative products and packaging design, as well as address the demands of compliance, sustainability, supply chain complexity, industrial productivity, rising commodity costs, and changing customer needs. Product Lifecycle Management (PLM) solution can address these challenges and assist enterprises in taking smarter and better decisions for the creation of better products.