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introduction_pim

Why Companies need PIM:

Businesses of all sizes are increasingly adopting Product Information Management (PIM) systems, typically, to introduce an efficient solution that allows them to:

  • Rapidly introduce products (High speed to market is a competitive advantage)
  • Use multiple sales channels and compete in all sectors
  • Enable collaboration of internal and external parties to produce rich product content
  • Partially outsource product data management retaining in-house quality assurance mechanisms
  • Integrate with external product data aggregators like CNET or Icecat

PIM is an instrument to enable efficient product data governance within businesses of high complexity or specific internal policies/legal requirements for product data management and lifecycle.

Check out what a PIM here

Introduction of PIM within the organisation

Generally, it is suggested to take the following considerations into account:

  • Staged approach is advised for introduction of formalised product data management and corresponding PIM solutions
  • Priorities must be set for every stage
  • Priorities are likely to change from stage to stage as PIM is adopted within the organisation
  • Change processes must be owned by an influential staff member who possesses enough time and other resources to drive the change. Changes must be supported within the organisation
  • Responsibilities and accountabilities must be clearly established
  • People should be assigned and trained

Corporate goals and relevant PIM-related ecommerce strategies are in the table below.

Decision on the priorities and strategy for current stage of PIM project implementation

Major Customer driver or Corporate objective Common strategy related to product data management
Rapid product growth (quantity over quality)
  • Minimise complexity of product data (reduce number of required attributes)
  • Focus on attributes crucial for current sales channels
  • Maximise usage of common attributes across the whole product range or across few major groups of products
  • Prioritise processes for introduction of new products based on available product information and minimum number of product attributes
  • Consider processes to maintain product data relevance
Optimise product information management costs
  • Minimise complexity of product data (reduce number of attributes)
  • Maximise usage of common attributes across whole product range or across few major groups of products
  • Focus on attributes crucial for current sales channels
  • Minimise complexity of processes for maintaining product data
Richness and relevance of product information
  • Review the corporate customer groups, typical customer behaviour and invest into development of comprehensive product dictionaries (well-defined product families, attribute groups, common and family-specific attributes).
  • Develop and introduce corporate product data governance processes. Configure PIM other IT systems to support the defined processes
  • Invest into integration with available product data feeds and supplier feeds by introducing the tools for mapping of product families and attributes, as well as processes for reviewing and approval of the data from external sources.
  • Develop product data quality control processes for new and existing products and utilise product change proposals in PIM
Product structure and relations between the products
  • Review the corporate customer groups, typical customer behaviour and define the product structure to streamline customer experience
  • Define the attributes that can be used to automate the maintenance of the desired structure and relations between the products
  • Minimise complexity of product data (number of attributes)
  • Maximise usage of common attributes across whole product range or across few major groups of products
  • Invest into the processes for maintaining the product structure and corresponding attributes

PIM and Product Lifecycle:

Check our recommendations about PIM and product lifecycle within the business here

PIM Platforms:

All above is equally relevant to any mature PIM including products of Informatica, Stibo Systems, Oracle, Akeneo and few others. Due to an inherent flexibility of open source platforms, at Balance Internet we prefer use Akeneo which could be adopted to the needs of almost any business, will continuously evolve with the business and will cost a fraction of any other enterprise PIM.

Contact Us:

Should you have any questions on how PIM can bring a competitive advantage to your business, get in touch with Balance Internet, a leading PIM practice in Australia.

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