Crowd sourcing is the contemporary trend in globalization of product development. It involves outsourcing the task to undefined large group of people or community through an open call unlike which were traditionally performed by an employee or contractor. Collective intelligence that emerges from collaboration and competition of individuals helps to achieve effective decision making.
Conventionally Product Lifecycle Management tools are used for collaboration among the individuals of same organization, suppliers, manufacturers, customers, strategic partners. PLM is normally used as single source of truth for patented information hence need to be very secure. The PLM and Social Media collaboration can be done by a secured crowdcasting methodology, where care needs to be taken for protecting the intellectual property of the host organization.
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There are various online platforms which help for collaborative graphic idea development. These platforms allow hosting a contest for developing graphical content, ideas which can result into marketing collateral or a successfully approved artwork which can be used by the product development company. Due to high number of product lines in consumer industries, there is an ever increasing need to develop extremely creative and innovative artwork and collateral literature development. The online platform like hosting a contest allows an organization to have multiple options to select from in less available cost. This also allows manufacturer to reduce the recurring cost to a better demand based service model.