Since the start of the Corona pandemic, manufacturers around the world have been struggling to make ends meet. They are facing serious obstacles and are worried about their future.
Companies are wrestling with various difficulties created by the pandemic. The consequences due to months-long lockdowns in cities and states are far-reaching. Starting from production stoppages due to complications in sourcing raw materials, followed by supply chain disruptions due to travel stoppages. In the worst cases, partner companies have gone bankrupt or are struggling with staff shortages.
In order to survive, there needs to be a shift in thinking and action on the part of manufacturers by optimizing and transforming their digital business strategy.
Here, the path leads to the use of digital technologies to position themselves more resilient and adaptable to the competition.
Future-proofing through a PIM system for manufacturers
PIM-led digitization can protect them from adversity and help you get back on your feet by maximizing the flexibility, collaboration and transparency needed to weather disruption.
With the growing volume of data, variety, and tremendous velocity, PIM can be the perfect ingredient to keep things running smoothly.
Using digital enablement remains a viable option to increase resilience in manufacturing.
- Flexibility Facilitate business continuity by ensuring access to information from anywhere.
- Collaboration Develop a way to quickly fill the gaps created by a disruption in the business ecosystem.
- Visibility Benefit from real-time visibility of product information by consolidating data into a single platform.
- Insights Use information to make faster decisions and optimize business processes.
When should manufacturers implement a PIM system?
Many manufacturers have a large amount of data and interfaces to manage. There is often a lack of cross-departmental information flow and accuracy within the company, which in turn inhibits productivity.
The central and error-free data software PIM provides a remedy for this and enables an absolute competitive advantage for companies. You can read more about this here in our article (PIM in e-commerce).
8 Ways PIM-led Digitization Helps Manufacturers - Operational Efficiency
A PIM system enables maximized automation, compliance and synchronization in the following areas:
To avoid time and error sources, product information is now only maintained and updated in one central location. This product data is automatically imported into the PIM system via interfaces and can be supplemented there in terms of marketing and channel technology.
Due to the unique data maintenance, sources of error and duplications are avoided, which creates professionalism to the outside world.
The quality of the data stock can be checked at any time via special dashboards.
The centralization of product data to eliminate inconsistencies throughout the ecosystem efolgt by:
- Digital Assets
- Excel spreadsheets
- Third-party apps
- Hard drives
- Legacy applications
- Translation agencies
- Text files
- Procurement systems
Due to the constant emergence of new sales channels, manufacturers need comprehensive data management so that specific data can be prepared for the various target groups. PIM simplifies and standardizes data management processes.
With a PIM system, manufacturers can differentiate and display their always up-to-date content according to customer groups. This ensures attention and arouses the interest of the target customers. Personalized offers with high-quality product experiences win the customer's trust and achieve long-term satisfying sales and loyalty.
Positive customer experience (CX) through a PIM is achieved in the following areas:
- virtual shelves, endless aisles or a digital kiosk enable customers to make informed choices
- through in-store navigation, mobile assistants and wearables, etc., customers are empowered to shop anytime, anywhere. In this way, businesses enable the maintenance of customer comfort and convenience.
- Self-checkouts, mobile wallets as well as established mobile POS enable contactless, convenient and comfortable shopping.
- Exclusive offers, loyalty programs and post-purchaseauto-replenishment models enhance the shopping experience through tailored, on-demand communications.
- Individual engagement with recommendation tools & personalized offers ensure segmentation and accuracy of product attributes and prices.
In order to remain innovative and competitive on the market, a quick market launch is a decisive factor. Due to the always up-to-date data information and data preparation options provided by the PIM system, workflows can be better monitored, optimized and adapted. This in turn enables marketing measures that can be implemented quickly.
The daily updated product database enables a fast product launch and shortens the market placement of new products drastically. Company sales can be improved through up- and cross-selling opportunities. Brand awareness is also increased through advanced workflow management capabilities.
PIM automates repetitive processes, enables real-time risk analysis and proactive response, which frees up resources and shortens response times.
With the introduction of a PIM system, you become a pioneer of the digital process revolution - accurate product data and the consolidation of this from different systems or departments in one place has never been so important.
PIM allows you to organize any type or amount of digital data in a structured way, and it also integrates with a wide range of technology products. It's the ideal partner for driving your business digitalization, which not only translates into sales, but also protects against adversity and helps maximize the flexibility, collaboration and transparency you need.
We are happy to support you in the decision-making process and introduction of a PIM (Product Information Management) system:
- Requirements workshop on the topic of product data - in the workshop we jointly develop the class model for maintaining the product information and set up the object classes together with you.
- Setup and installation of the PIM incl. required software components in a specialized hosting environment.
- Provision of a universal interface with which the import (MXL, CSV, JSON, Excel, etc.) of your existing product data into the PIM system can take place. The API also allows you to export feeds and create Rest APIs into any application.
- Connection of the PIM system to your required output systems (website, eCommerce shop, app, Adobe InDesign, etc.) as well as creation of the required templates
- Editorial training on the use of PIMCORE
You will find further interesting topics related to PIM here:
Oliver Parrizas will be happy to answer any questions you may have on the subject. +49-800-911-91-91