Managing Product Data was heavily discussed last night at a well-attended SEMA Town Hall Meeting here in Miami. During this meeting the SEMA Leadership polled the audience on their most pressing issues in their business. While the number one issue was finding new and top talent.
26% Of Attendees Agreed That Managing Product Data Was A Major Issue
During the town hall it was discussed in-depth the importance of accurate product data from the manufacturer, through the wholesale distributor, down to the jobber, installer, or retailer. This was the second most pressing issue in the businesses of the attendees, followed by product development.
Ensuring accurate product data at all levels allows for more sales of products – a proven fact. Accurate product data also lowers the total overall cost of sale and leads to higher customer satisfaction rate.
Product Data is not limited to just specifications around the parts or assembly schematics. Product Data expands into detailed product descriptions for your websites, accurate make/model data, product pictures, pricing, and so forth. Many businesses today do not realize the cost to their business by not working with accurate product data.
Product Data In A Central Location Is Important
By centralizing product data, manufacturers as well as retailers can ensure that they are using the most up-to-date and accurate information. When companies store information in different locations and in different formats, this can be costly, not only from a time perspective but to the bottom-line as well.
Many companies limp along trying to manage product data in shared folders, spreadsheets, and using their ERP systems. However, with today’s technology it has become very easy to centralize, maintain control, and roll out new products rapidly using Product Information Management (PIM) and E-Catalog tools. The technology available today allows companies to effectively manage SKU proliferation, pricing/margin pressure, and become ACES and PIES compliant.
No matter what level your company is at today or how many SKU’s you manufacture, distribute, or retail, having accurate product data can help your company’s revenue. There are solutions of all levels to help companies maintain, review, and distribute accurate product data.
To learn more about simplifying your product data and selling more products contact us today. Our Product Desk solution is an automotive industry specific Product Information Management (PIM) solution that streamlines the data management process.
Contact us today! Call us at (305) 330-1402.