Product Information Management: The Foundation of Supply Chain Excellence in the Consumer Products and Retail Industries
The importance and value to an organisation of taking a strategic approach to tackling bad product information
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2005-09-08 6:28 PM
Today’s Chief Executives are besieged by tantalising supply chain initiatives that promise significant benefits. Initiatives such as Radio Frequency Identification (RFID), Collaborative Planning, Forecasting and Replenishment (CPFR), Vendor Managed Inventory (VMI) and Global Data Synchronisation (GDS) represent the new world, in which collaborative trading partners work with each other to share the benefits of reduced costs, improved productivity, and increased sales.
Awareness of all these initiatives is spreading, and yet at the same time, there is little understanding as to how dependent they are on a solid foundation of good, clean and consistent product-related information within the enterprise.
More fundamentally, there is insufficient appreciation as to how significantly bad product-related data impacts an organisation both strategically and tactically.
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