Modern-day manufacturers, product managers, and retailers would surely be aware of what is a PIM system and eager to implement it. PIM software becomes inevitable for businesses these days. A PIM collects, manages, and refines the data or information gathered through various channels.
Here this article elaborates the importance of PIM software and why the manufacturer should seriously think of implementing Product Information Management.
What is Product Information Management (PIM)?
Manufacturers who manufacture products for people across the globe may find it difficult to adjust the product information according to the specific people from specific locations and to tackle the different marketing needs of the product.
In such a case, having a Product Information Management (PIM) becomes so handy.
A PIM can be defined as an eCommerce solution that acts as a single source for managing, distributing, and enriching the business or product data/information. Also, A PIM system acts as a single storage unit that delivers data to the needed channels by converting the data to desired formats easily and quickly.
Why is PIM Important For the Manufacturing Industry?
A PIM system is a useful tool for the manufacturing industry where product data are spread across multiple channels. Many manufacturing companies prefer to use the PIM system once they start to experience the nightmare of managing and organizing their product and business data.
A manufacturer who needs a lot of variables and customization on their product information or business data definitely should use a PIM system for better data management.
Here are the lists of key challenges faced by a manufacturing industry that enforces the implementation of a PIM system to overcome it.
- Challenges in Product Management: Product time-to-market, lack of product visibility, poor product information
- Challenges in Supply Chain Management: Managing information/data from multiple channels, data integration, real-time data syndication, lack of timely notification, and so.
- Challenges in Product Governance: Regulatory compliance, Geographical compliance, Lack of adherence, audit trail on products, and so.
Here are the lists of vital points that elaborate on why the manufacturer needs to use a PIM system.
PIM Increases Efficiency & Productivity
PIM system provides a centralized data storage by using which workers can able to access relevant information or data which they looking for through multiple channels in quick time. With perfect data organization and data management, employees can find their relevant data quickly and focus more on productivity.
Improved Product Content Quality
PIM system gives you a perfect infrastructure for managing and creating high-quality product content. With such high-level product information, customers can find exactly what they are looking for through accurate product details. Well-crafted product details will attract more potential customers and increase product sales.
Centralized Data Storage
PIM gives centralized data storage for storing information and details for all products. So that retrieving or editing or adding product details can be done easily.
Enhanced Customer Experience (CX)
With the help of the PIM system, a manufacturer can able to create customer-centric product categories. And creates customer-friendly site navigation. This will reduce the searching time of a customer for a product significantly and to find the relevant products quickly and easily.
Having a good PIM solution for your business will notably increase the customer conversation rate along with reducing the number of product returns. It happens due to the accurate product information.
PIM for Manufacturing Industry – A Brief
In the age of the digital era, manufacturers are facing hard times to gain a competitive edge in today’s market. So they try to be innovative in all aspects of the manufacturing process, especially in boosting the product time-to-market.
To succeed in this time management, implementing digital techniques becomes mandatory. Digitalization along with smart data management will reshape and evoke the manufacturing industry to the next level.
Using Product Information Management (PIM) in the manufacturing industry will help owners to consolidate the scattered data and improve the product experience significantly. Owing to that, business owners can achieve operational excellence along with fast delivery and smarter results.
Introducing digitalization on products, services, and also in the manufacturing process will provide a dynamic shape to the manufacturing industry. On considering the changing market conditions and rising customer expectation, implementing digitization becomes inevitable. To be successful in digitalization manufacturers need to be cautious on organizing, harmonizing, and usage of data across multiple applications and channels.
Here we have discussed how PIM solutions offer seamless digital experience and automated operational excellence to manufacturing industries.
1. Digital Enablement with PIM Solution
PIM solution regularizes your business strategies and business values through effective handling of business data. This includes data import, data delivery, data consolidation, and so.
It helps to build seamless B2B and B2C Omni-channel experience with the help of built-in DAM and web content management solutions.
A PIM solution offers a centralized data storage system by which data can be easily and quickly accessed through multiple channels.
2. Operational Excellence with PIM Solution
PIM solution defines manufacturing process and operation flow by integrating the product content, product data/information along with business digital assets and transform it into desire formats before sending it publishing it via multiple channels.
A PIM solution automates the business process like web-to-print activity for creating B2B or B2C product catalogs and other personalized marketing documents. Also, it provides connectivity between the business applications with loT data.
The PIM system simply speeds the time-to-market of the manufactured products by improving product assortments and introducing SKU, multi-channel selling/marketing. By doing so, it increases brand loyalty and revenue.
3. Better Customer Experience With PIM
PIM solution delivers up-to-date accurate information regarding product data. And to provide greater efficiencies on delivering digital assets and other business-related content to engage with customers for enhancing the digital experience.
A PIM solution significantly improves the customer conversion rate by providing effective communication with the customers via multiple channels. Also, it offers a variety of options for customers for finding the right products which they are searching for through omnichannel experience.
Extends Customer Value
Data plays a major role in providing a better customer experience and extends the customer value with the brands for a longer period. A PIM solution leverages data along with the next-gen technologies to make better business decisions and to create new opportunities for better engagement with customers.
4. Capabilities of PIM In the Manufacturing Industry
- PIM delivers highly dedicated syndicated data solutions via custom API
- Performs automated data transformation via multiple channels with desired formats
- Integrates and streamlines the entire manufacturing operations
- Performs data validation and delivers high-quality product content
- PIM offers multi-tenant architecture for controlling the access level of users/employees
- PIM provides a platform where business data or information can be transformed through automated data exchange
- PIM carries simple content exchange process by following the content standardization technique
- A good PIM system can able to store basic product data, marketing information, and the specification details of the manufactured products
Apart from just speeding up the product manufacturing process, an effective product information management tool can reduce the product information creation cost for the manufacturers significantly. Owing to this, the final price of the end product would be lower.
Benefits of using PIM for manufacturing business
A PIM tool is a piece of programming that tracks all of the data regulated by your association systematically and passes on that across the various channels of your association. PIM structures be a part of, synchronize, and fuse all factor info, in and of itself does the chance of one supply of Truth.
Continue to pursue to gain proficiency with the advantages of having excellent item data in board programming.
Here are the key merits of an excellent PIM for a manufacturing company
1. Enhanced Product Data Management
Product Data management (PDM) programming oversees item information, for example, CAD models and assembling directions. PDM is for the most portions utilized by uniting organizations to control item information from plan to create.
As the business develops, there’ll be numerous new items coming in. All things perhaps; it can become hard to monitor all that item data. This prompts complication, which, thus, influences client experience.
This kind of programming is helpful for architects making the underlying details of another item and creation chiefs adhering to assembling vectors.
2. Optimizing the Service Quality
It’s nothing startling why customer experience is up-to-date. As client experience becomes one of the fundamental differentiators for each business, subsidiaries contend to foster the best way to pay close attention to marketing them.
Customer experience is the current business benchmark that is transforming into the new norm for brands. It’s never been more crucial to put your customers first.
Customers can examine what they need and head to the checkout section to get it. Rather than having a specialist encourage individuals to purchase, they have more noteworthy self-sufficiency over their buys.
3. Improved time management skills
To start with, you need to venture back and contemplate what precisely you need your group to be chipping away at. Characterize key objectives and think about your group’s ability to execute them.
We all know that “time is money”. With PIM programming, you might save time on obligations and accentuation on substantial work.
While it requires some investment to gain genuine headway, There are things you can do right now. Skill enhancement has to be enhanced. And, thus, show your organization that you’re a significant piece of the group.
4. Ease of Implementation
In comparison to corporate project management systems, PIM setups are easier to manage. An ERP, for instance, requires more customization than individual data than the executive’s framework (PIM).
PIM’s versatility allows it to be slightly changed to accommodate all of your information measurements. Administrative costs will be lowered, as well as the cost of showing out new products.
A further developed client experience gives you exceptional opportunities that straightforwardly sway your top-line execution. Having the proper CX technique set up improves the client experience, yet in addition, makes your affiliation customer-driven and beneficial over the long haul.
How to Choose the Right PIM System For a Manufacturing company?
It is nearly impossible to find a PIM system that suits well for all kinds of business. Picking the right PIM solution for the manufacturing industry is a painful process and it requires a lot of determination and dedication.
Here are the few factors that need to be focused on for finding the right PIM solution for manufacturing industries.
Before picking a PIM tool make sure it is ideal for your business. Ensure the chosen PIM delivers seamless connectivity to ERP, online catalogs, applications on various platforms, etc.
Make sure the handpicking PIM system delivers a fully automated manufacturing process along with automated data validation. With such proper automated validation, manufacturers can enrich their product data and provide better content for the marketing team.
Before finalizing a PIM system make sure it has the desire adaptability function. A good PIM system should adapt to the different markets and variety of sales channels running on multiple channels from various countries. So that you can attract more target audiences across the globe.
It is the most important aspect to look out for before buying a PIM tool for your manufacturing business. Make sure the interface of the PIM system can be easily accessible by non-technical skill employees. So that they can access it without any guidance and spend less time on PIM and focus more on their work.
There is no doubt that referring to a PIM tool is effective for developing an eCommerce business. However, the above-given information exposes the benefits offered by a PIM system to the manufacturing industry. Have a look at the PIM trends; define your business requirement and start picking the right PIM tool before implementing it on your business to avail better results.