Manufacturers: Is Product Information Management Essential?

Manufacturers manage a sea of data. Wide ranges of processes and activities stream through the manufacturing enterprise. New product introductions, regulatory compliance, and customer/supplier relationships among just a few.

Discrete manufacturers manage data and digital assets about parts, components and assemblies that go into the products made. Internal product data must be maintained. Syndicating product data to distributors, dealers, data pools and other channels is often slowed by older inefficient, manual processes. Sales can be bogged down.

Optimizing and Automating the transformation of product data into powerful, persuasive, product information delivers benefits for the manufacturer:

Supply Chain Partner Relations are improved. Manufacturers using a PIM solution report a 20% improvement in collaboration with partners.

Products Speed to Market: 7-13% reduction in time communicating product updates.

Fewer Invoice Errors and Disputes: Manufacturers can expect a 5-10% time reduction spent resolving errors and disputes.

Stock Outs are Reduced 3-5%.

Purchase Order Errors are Slashed 26%.

New Product Management time spent by merchandisers and data-entry is cut by 5000 to 10000 hours.

Invoice Accuracy Booms: 1000 to 2000 hours saved by elimination of invoice errors.

23% Reduction in Returns: Customers act on up-to-date, rich product information.

Promotions are Made more Accurate: Product Promotion discrepancies slashed by 23%.

Source: A.T Kearney, The Yankee Group

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About Sales Pro
Master Data Management and Product information management solutions.

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