In my previous post, I discussed the power of matching supply and demand data using master data management (MDM). I showcased challenges many retail, footwear and apparel (RFA) makers face in the market today, as well as the value of applying MDM as a strategic asset that improves decision making and collaboration.Read More
For retailers around the world, the data economy has put a premium on leveraging information as a strategic asset that directly impacts revenue and growth. This is a growing trend that isn’t surprising given today’s ubiquitous use of mobile devices and the digital consumer.
If you rely on CRM, ERP, ecommerce, data warehouses and related systems, you’ve likely experienced challenges associated with costly manual entries, siloed systems and inefficient processes. These challenges often result in the creation of duplicate records that contain mismatched pieces of information – or worse – inaccurate or conflicting data.Read More
If you’re like most organizations, chances are you are struggling to understand the connections found in your disparate silos of information. We live in a virtual, technologically advanced world, and the reliance on technology by both companies and their customers for conducting day-to-day transactions and interactions only continues to increase. The number of systems holding this critical data is vast and fragmented, each operating independently of one another. The challenge of identifying and reconciling data across these disparate and siloed systems makes creating a complete and accurate view of a company or customer almost impossible. This is because no single system contains this view across all departments or lines of business or is designed to manage the complete lifecycle of the data.Read More
It’s not news to anyone that today’s data-driven market is constantly changing. Consumer demand has changed the way businesses operate as it applies to product development. That said, how can your organization meet customers’ demands while ensuring quality products? This is where the combination of product lifecycle management (PLM) and product master data management (PMDM), traditionally known as product information management (PIM), can help you stay ahead of your competitors.Read More
Product lifecycle management (PLM) has come a long way in just a few years. Throughout the 1900s a product’s lifecycle held a similar concept to today’s understanding: introduction, growth, maturity, decline. What’s changed is the management of that lifecycle. PLM was created as a manufacturing tool to track the millions of parts from hundreds of manufacturers. Today, most companies across several industries are dependent on it to be successful. And, if your company hasn’t created a digital strategy for PLM, you’re at risk of being wiped out by the competition.Read More
Product Information Management (PIM), DAM, EAM, PII, data enrichment, matching and linking. Not quite sure what all those abbreviations, terms and hypes mean and how they relate to Master Data Management (MDM)? Get your MDM definitions in one place in this A-Z of MDM.Read More
Dealing with increasingly complex products and growing competition has caused many businesses to take another look at how they can improve their product design processes. Identifying solutions that will yield the expected improvements can take a long time and may require organizations to let go of long-held beliefs and practices.Read More
“The first step in exceeding your customer's expectations is to know those expectations.”
Perhaps you’ve heard this quote by marketing guru Roy H. Williams. Even if you haven’t, you will most likely agree with it. Knowing who your customers are and what they want makes perfect business sense, since customer feedback can drive product direction, pave the way for better customer experiences and help identify new business channels and partners.
But how do you get to know your customer if you sell exclusively through distributors or retailers? Are manufacturers disadvantaged by being disconnected from their consumers? How do they overcome this?Read More
Historically, customer data has been often difficult to acquire, clean and, most of all, interpret. With the advent of the Internet of Things (IoT) there has been a sharp increase in both the availability of customer data as well as how much information manufacturers are able to collect from their product’s everyday use. This year alone, Gartner estimates that 8.4 billion connected "things" are already in use.Read More