Product Information Management is the Next-Gen Business Strategy
Product information management is designed to manage information centrally. The information is related to various products. The main focus of this task is to sell and market products through distribution channels. This management system has been implemented by different entities like websites, ERP system, print catalogs, and electronic data feeds. In the process, a central pool of data is utilized to acquire accurate, consistent, and up-to-date information. In order to support different demographical aspect, multi-lingual situation, and modification and fine-tuning of product information under a central catalog, the product information has gained utmost importance.
The key to multi channel success lies in PIM in a consistent manner. If there is poor data quality in multi channel business, then that business cannot thrive for long. You cannot depend on the cleaning of product data merely. For better results, retailers, CPG manufacturers, and distributors want a comprehensive solution. In product information management, product information is mixed with robust capabilities in integrating data and governance.
The functional areas of data governance case study include supplier portal, master data management, product data authoring, digital asset management, business process management, commerce integration, and web access. Each of the activities has certain features. For example, in digital asset management raw products like graphics, images, audio, documents, and video are managed centrally in order to easily find them out and then format and fine-tune according to the requirement. In case of business process management, it is ensured that each division and group in an organization follows the same or similar process for maintenance and authoring of products. The ultimate aim is to enhance the operational efficiencies. With the help of PIM web interface, a simple, powerful and very fast web-based search is looked after and as a result business is capable of authoring product information for boosting sales and marketing.
Discussion about PIM will be incomplete if we do not take mro data cleansing into consideration. It is truly a fundamental service. Here various factors, such as proprietary software, review from experts, and standard operating procedures (SOP) are taken together to standardize, validate, cleanse, and enhance raw client data. After cleansing, the data is formatted to conform to the particular configuration requirement of ERP/CMMS/EAM besides rectifying character limitation, field type, and data management. Potential duplicate records are identified during the process of cleansing. There are three distinct levels in the process of mro data standardization ---- cosmetic cleanse, standardization, and enhancement.
Jessica Banks has earned international repute in the arena of corporate management. The author has done detailed analysis of product information management in the article.
