How PIM Provides a Competitive Edge to Manufacturers?
Across the globe, manufacturers were shaken with unprecedented fallouts due to the global pandemic. Now, they are starting to pick up the pieces. Time to look at transformation of operations from a digital perspective!
Efforts are underway to make B2B commerce increasingly resistant and adaptable by leveraging digital technologies. Among them, product information management (PIM), which helps to digitalize and streamline data management.
From improving the quality and efficiency of product data to ensuring compliance, increasing competitive strength, boosting supply chain efficacy, and enhancing the customer experience: Manufacturers can push all the right buttons at every level of operation by using PIM. See how Pimcore can be used for manufacturers!
What You’ll Learn From This Insight:
Why PIM Remains Pivotal to Product Data Synchronization?
Retailers often request a vast number of product attributes from manufacturers, many of which are non-standardized. In a rush to meet the retailer’s deadline, manufacturers frequently submit mediocre-quality data compared to the product information available on the manufacturer’s own digital channels.
More complications occur when retailers don’t refresh the data, which creates inconsistencies. Hence, it has never been more critical for manufacturers to synchronize real-time information across all channels by putting data ownership and data governance in place.
Manufacturers Must Be Masters of Their Product Information
Win their customers’ trust
During a crisis, consumers turn to brands that they trust – more specifically, the ones that are innovative and credible. PIM offers the solution by providing a “single source of truth,” which is up-to-date and thus a trusted source of product information. In this way, it ensures seamless, high-quality product experiences, solidifying the long-term reliability that customers seek.
Most manufacturing brands make their products available through distributors or other reseller channels. And they increasingly witness a higher demand regarding the extent and expanse of their product information. Hence, what they need is an immediate synchronization across all channels. That’s when centralized management of product information becomes a huge advantage.
Reduce response time
PIM ensures end-to-end visibility across the product data value chain. Having this visibility – ideally in real-time – is vital to run risk analyses and respond proactively. While increasing agility in production, PIM automates repetitive processes, cuts down on intelligence-gathering time (to make data-backed decisions), and helps run diagnostics (across inventory, assortments, and the supply chain).
As a result, discrepancies are eliminated quickly and effortlessly. This, in turn, frees up resources, which allows you to attend to other essential requirements of your business. For instance, supporting your customers during a crisis of this magnitude.
Explore new opportunities
The digital shelf allows brands to make more personalized, meaningful, and context-driven connections in line with the diverse and quickly evolving digital touchpoints of shoppers. PIM thus offers brands an underpinning that is much in need at this hour. By creating and seamlessly distributing engaging product content, it feeds the entire process of discovering, researching, and purchasing products online.
Manufacturers can also adopt a direct-to-customer (D2C) model. This lets them sidestep the supply-chain disruption (something we’ve witnessed during this pandemic), allowing them to not only become more resilient but also to open up a new revenue stream.
Four Major Ways in Which PIM Aids Manufacturers’
PIM supports product data transformation by minimizing manual processes, easily adjusting to multichannel environments, while seamlessly adapting with complex use cases of manufacturers. Here are four chief ways in which PIM proves itself useful.
1. Agility and Adaptability
Agility, especially during times of a crisis, can encourage you to look for new opportunities. For instance, empowering distributors or retailers by eliminating manual ordering for better collaboration and higher efficiency.
Advanced technologies can help businesses become more adaptable to the changing realities of a post-pandemic world – by fostering personalized engagement, trustworthiness, and fluidity in communication.
How a PIM can help you to become more agile?
- Strenghten existing global collaboration and initiatives to reconfigure global value chains.
- Always keep customers in the communication loop throughout their customer journey.
- Help manufacturers to build digitally-enabled relationships, benefit from smarter logistics management, and deliver better value to businesses.
What Makes Pimcore the Best Choice for Your Evolving PIM
By being a scalable, implementation-ready platform, Pimcore is nimble enough for international business environments where zillions of product data attributes must be managed. Pimcore easily connects and works hand in hand with scores of other technologies.
- Handle complex data challenges: Dynamic online portals having exclusive dashboards make managing product data easy for partners and vendors.
- Create product-oriented workflows: It enables the free flow of information, which boosts accuracy and team spirit while lowering complexity.
- Take advantage of automation for efficiency: Implementing fully automated single-source product data publishing boosts productivity.
2. Scalability and Accuracy
Having control over data reinforces your ability to scale into newer geographies and include new vendors, partners, and currencies. It also lets you implement product data attributes in multiple languages.
Accurate product data can link businesses with vendors in the best possible way, especially when it comes to contactless collaboration (a world we are headed to). Apart from boosting collaboration, it helps you win vendor confidence and loyalty.
Product Data Information
- Helps you re-align your existing operations with ease and quickly diversify processes in an error-free way.
- Ensures that sudden shortages and surges in demand are smoothly addressed, minus any inconsistencies.
- Helps in presenting customers with the right products, at the right price, and in the right place.
Pimcore PIM Secures and Future-Proofs Your Supply Chains
By being a highly scalable, enterprise-ready platform, Pimcore is suited to the fast-evolving needs of global manufacturers who need to manage hundreds of editors and millions of monthly visits. Whether you want to take your operations to new markets or to new channels, Pimcore will be your ideal companion for the future by helping you …
- Adjust to a click-and-collect environment: Pimcore delivers optimal product data needed to get a maximum out of the amalgamation of physical and digital channels.
- Manage visibility across extended networks: Pimcore offers a high degree of visibility for products so that the entire value chain receives up-to-the-minute information.
- Faster collaboration: Pimcore helps you eliminate the barriers between systems with highly structured data, streamlined workflows, and automation.
3. Aggregate & Share Real-Time Information
Manufacturers obtain product information from a multitude of internal and external sources such as aggregators and third party providers.
Hence, they must have a tight grip on their data to eliminate redundancy and accelerate synchronization. Likewise, sharing data from a centralized product repository gives vendors and partners instantaneous access to all the data developments, significantly enhacing processes and workflows.
PIM helps in
- Sending dynamic updates between systems, workflow support, and content publishing tools.
- Winning customers trust across the value chain and empowering teams around the world.
- Empowering company representatives to tap into cross-sell and up-sell opportunities with confidence and ease.
Pimcore PIM Adapts to the New Consumer Behavior
In times when supply chains and manufacturing are increasingly data-driven, Pimcore PIM is optimally positioned to accommodate for this evolution. It offers a bird’s eye view of the entire business ecosystem, accelerating reporting across the value chain while improving compliance. The enterprise PIM software supports you in:
- Maximizing customer awareness: With up-to-date, consolidated content, creating awareness, developing interest, and assistance in the purchasing process is taken to the next level.
- Delivering connected experiences: By creating unified, consistent experiences, it drives higher customer satisfaction and faster time-to-market.
- Emphasizing context and relevance: Updated, context-optimized product data with personalized offers wins customers’ confidence with ease.
4. ROI and Time to Market
An advanced data management strategy will improve cross-functional engagement and digitally strengthen your business, thereby encouraging sensible investments and stronger partner relations. It also reduces complexity – which, in turn, contributes to business continuity and a positive ROI.
A product information management system will ensure increased adaptability to multiple geographies, languages and channels. Alongside automated workflows and minimized data irregularities, this drastically decreases the time to market.
With PIM, you can
- Launch products swiftly, enhance supply-chain transparency, and speed-up the introduction of new products (NPI).
- Introduce localization to enlarge your market footprint in newer locations and make business processes more nimble.
- Offer sophisticated workflow management features, increasing brand prominence, and product margins.
Pimcore PIM Allows You to Reimagine Your Business Profitability
Pimcore PIM gives you a single-point-of-control for product data. This is extremely helpful when the number of sources and the complexity of data become greater. By improving the assortment of your product data and by fulfilling the needs of multi-channel selling environments, it significantly decreases the time to market. It can assist you in:
- Cutting down on operational costs: With Pimcore, you can develop new features or immediately scale existing features, which dramatically cuts down on operational costs.
- Creating powerful integrations: With its 100% API-driven architecture, Pimcore creates robust integrations with internal and external systems for faster growth.
- Letting you invest in business specific functionalities: Whether it’s marketing automation or automated solutions for catalog production, Pimcore PIM lets you add all the functionalities you need.
Pimcore PIM lets Manufacturers manage their product information and deal better with competition, disruption, and amplify enterprise growth.
Want to know more? Talk to us!