By properly managing the information about their products, CPG companies can solve some of the problems retailers face in carrying and selling their brands.
It’s no surprise to makers of consumer products that retailers are reducing the number of brands they carry. But this disturbing trend is gathering steam:
CPG companies are already doing everything they can to make life easier for their retailers and distributors by simplifying the logistics of the physical products themselves. But there’s something else they can do to help keep their brands in good standing with their retailers: they can make it easier for retailers to import product data into their e-commerce Web sites, catalog software, accounting systems, and other applications.
By properly managing the information about their products, CPG companies can solve some of the huge problems retailers face in carrying and selling their brands. A system for managing product information can help them:
- Avoid aggravating their retailers by keeping product information up-to-date: A PIM system ensures that the information product manufacturers provide is drawn from the most current sources of information, in real time.
- Make their products “e-tail friendly” by adding product attributes and rich descriptive detail: A PIM system lets companies apply rich marketing attributes to the basic data in their ERP and PLM systems. This is critical in the e-commerce era, when customers use search engines to find and buy from retailers and distributors.
- Automate the formatting and delivery of their product information to their retailers: With a PIM system, CPG makers can continually send product data or schedule regular feeds to every retail channel that consumes it. (Of course, they can also feed their own e-commerce sites, catalog production systems, and other internal channels with the same information.)
A product information management (PIM) system offers many other benefits and advantages to CPG manufacturers, including fewer errors in marketing materials, shorter time to market, and fewer stockouts and other inventory problems.