Your Challenge: “Product lifecycles are shrinking and competition is intense.”
Your Objective: Bring winning products to market quickly while reducing manufacturing and supply chain costs.
Sound about right? Today, your industry faces extreme pressure to drive rapid innovation-cycles, quickly introduce new products, and be first-to-market. Growth is driven organically through the release of leading-edge products, via acquisitions, and by moving into new geographical markets.
To meet high consumer expectations, your company needs to invest in a cloud-based PIM solution. A modern PIM solution will seamlessly integrate with innovation and contract manufacturing platforms, software-development solutions, and PLM/PDM platforms that provide new product information very early in the product lifecycle. Once achieved, product data mastery enables the synchronization of ideation through commercialization (I2C).
It will ensure enriched and accurate product information is delivered to all ERP, CX and Supply Chain Systems for manufacturing or service. Because a single quality issue may cause an entire product line to fail, data verification and business-rule validation will help prevent expensive engineering change orders, scrapped products, or (in worst-case scenarios) faulty products entering the marketplace.
To achieve Product Data Mastery, start with these steps:
- Streamline Innovation to Commercialization processes on a single integrated platform.
- Ensure data consistency across multiple applications.
- Closely collaborate on products, bills of material, and catalogs.
- Establish change and revision control.
- Monitor processes through real-time analytics and reports.
- Leverage the cloud for better agility and lower IT costs.
Become a Product Data Master with Oracle Product Hub Cloud. To find out more out how your organization can reach Product Data Mastery, read the Product Data Mastery Simplified eBook or visit oracle.com/producthub.
Check out these previous installments of Product Information Blogs – Product Information Management for the Modern Supply Chain and Fight Off Data Complexity: Read How Companies Get To The Cloud