| |
|
| |
March 1, 2005
Survey Shows Rising Interest in Product Information Management to Provide
Accurate Data for Supply Chain
59% say top catalyst for PIM adoption is need to eliminate data discrepancies
WAYNE, PA - FullTilt Solutions, Inc., today announced the results of its 2005 Industry Survey on Product Information Management Trends to more than 3,000 recipients across multiple industries. The findings show that the key business driver behind efforts to create a centralized internal product information management repository with PIM software like FullTilt's Perfect Product Suite is the need to resolve data discrepancies caused by islands of information across an enterprise, in order to facilitate error-free product information exchange.
When asked to list all factors that had sparked their interest in PIM solutions, respondents cited:
|
|
|
| |
 |
Need for a single version of product truth (59%) |
|
Key component in efforts to reduce costs (41%) |
|
Improvement in customer service offerings (38%) |
|
Desire to reduce time to market for new products (35%) |
|
UCCnet/EPCglobal initiative (24%) |
|
RFID initiative (22%) |
|
|
|
|
|
Other factors driving the PIM decision included a desire to provide customer-specific catalogs (16%), customer mandates that have exposed bad data (14%), and improved trade promotion management capabilities (8%).
The survey also revealed that:
|
|
|
| |
|
88% of respondents believe their company recognizes the benefits of a centralized internal product information management repository. |
|
95% believe they must develop more effective systems to better support collaboration efforts internally as well with their trading partners. |
|
85% believe their department could perform better if they had access to accurate product information from other internal company groups. |
|
82% are currently working aggressively to break down "islands of automation" to better share product information across departments. |
|
|
|
|
|
"The analyst community has written extensively about product information management in the past 12 months, including a recent report from The Yankee Group validating the positive top- and bottom-line benefits of PIM solutions," said Scott Deutsch, Vice President, Marketing, FullTilt Solutions. "Our industry survey confirms that companies are looking closely at product information management systems to reduce the costs associated with incorrect product data and thereby gain the best returns out of their ERP, PLM and CRM investments."
FullTilt's survey covered retailers, CPG companies, distributors, healthcare and life sciences firms, and a variety of other industries.
FullTilt's Perfect Product Suite
Perfect Product Suite, recently ranked as the market's top PIM solution by Forrester Research, automates the internal and external data synchronization processes necessary to eliminate conflicting item definitions, outdated item information, duplicates and other errors contained in multiple enterprise databases and applications. The solution has been deployed in multiple industries since 2001 to streamline data and catalog maintenance, improve order and invoice accuracy, and promote the smooth flow of electronic commerce.
The software aggregates product information from ERP, CRM, PLM and other systems, adjusts disparate definitions to conform to a uniform standard, dynamically updates and synchronizes information as it changes, and provides automated workflow. It maintains all product information and links in a central repository to ensure a single source of "product truth," and outputs data in any format required to synchronize with internal enterprise systems or external trading partners.
Perfect Product Suite supports both manufacturer and retail data synchronization with UCCnet, ECCnet, Transora, WWRE, GHX, IDEA and others and in unlimited user-defined custom formats. It lays the foundation for companies to comply with data standardization requirements mandated by major retailers and to successfully implement collaborative planning forecasting and replenishment, GTIN compliance, data synchronization, scan-based trading and vendor-managed inventory.
For RFID implementations, it also functions as the critical back-end reference database required to maintain detailed specifications about the product an EPC RFID code represents, including color, dimensions and other attributes needed to translate RFID product movement data into actionable supply chain information.
About FullTilt Solutions. FullTilt Solutions ( www.fulltiltsolutions.com ) is a leading provider of enterprise Product Information Management (PIM) software solutions for the consumer packaged goods, retail, MRO, healthcare and life sciences industries. Perfect Product Suite, the company's flagship product, optimizes product information-related business processes across internal operations and external trading partners to enable perfect business-to-business commerce. FullTilt is a certified solutions provider for UCCnet and Transora, and has implemented PIM solutions at organizations including McCain Foods, Premier, Inc., BDI, Brady Corporation, Hagemeyer and ECRI.
FullTilt and Perfect Product Suite are trademarks of FullTilt Solutions, Inc. All other trademarks referenced are the property of their respective owners. |
|
|
|
|
