Posts about Product Master Data Management (PMDM)

Since the outbreak of Covid-19, we have seen a dramatic shift in consumer shopping. More customers are focused on safety and convenience while price sensitivity has taken a temporary back seat.

People who want to lose weight study nutrition facts. They want to know the total amount of calories, percentage of calories from fat, protein, carbohydrates, cholesterol, allergens and many other facts. The higher the awareness, the more scrutiny of information the consumer will exercise.

Established companies know the number of resources it takes to push a product through development: sketching and designing, numerous trips through R&D, distribution and promotion. Furthermore, as competition for customer attention increases, agile product development and sales processes will become critical.

For online retailers, one of the biggest challenges that directly impact the customer experience is inaccurate product data. If the image doesn’t match the description, reviews aren’t associated correctly, dimensions are inaccurate, or the description doesn’t live up to the actual product then chances are good that the product will be returned. This leads to additional costs for freight and extra handling and maybe even loss of customers. By consolidating and mastering your product data, product returns can be reduced by 25%, creating tremendous opportunities for cost savings and improving customer loyalty.

The goals and expectations of a merger and acquisition (M&A) are almost always the same: cut costs, increase efficiency, shorten time to value, automate manual processes, enhance business intelligence and more. Ultimately, an M&A is supposed to provide value to shareholders, who expect quick wins.

Stibo Systems has been positioned as a “Leader” in this year’s report, The Forrester Wave™: Product Information Management Solutions, Q2 2018. We believe that this is important for two reasons. First, in an environment that seems to be evolving faster than ever, having a trusted, credible third party offer this kind of perspective carries a great deal of weight with potential customers. What’s even more impressive is, according to the report, we are “the only PIM vendor to maintain a position as a Leader across Forrester's past three PIM Waves”–in our view, this is recognition that our your-business-first approach to master data management is working from a customer perspective.