[INFOGRAPHIE] The product data pathway
In today’s hypercompetitive environment, it is necessary for companies to innovate and create new products constantly. At the same time, they have to improve their Time to Market and remain attractive to customers with growing expectations. The many steps along a product pathway, from the birth of the idea to its commercialization, can be divided up into 3 key phases. Over the course of these phases, you will shape the product data which ultimately serves to seduce your clients into buying your products. Worth thinking about, isn’t it?
Let’s see how you can work with this data successfully and look at the tools to use along the way.
1. From ideation to production
There are several vital steps you cannot compromise on when you want to go from an idea to a finished product. To have a hope of making it to a production line, the product idea has to be reflected on, studied and made into a prototype. This job is generally done by a team of engineers or designers. The ideation to production process involves many different steps, and even maintenance has to be covered. R&D, planning, design, conception and strategy will allow you to fine tune the initial idea until you arrive at a viable product you can commercialize.
This stage in a product’s life cycle is managed using a PLM, a Product Lifecyle Management tool. The PLM makes the workflow smooth running and fosters teamwork by facilitating collaboration between departments. It also automates work processes and allows information to be shared. This both increases agility and saves time. The main advantage though is being able to centralize data involved in the definition, production and maintenance of your product throughout its entire life cycle (from BOL – Beginning of Life, to EOL – End of Life). This means no more loss of information, archive management, and easy sharing of resources (information, documents…) : the PLM is your number one ally for acting your product development strategy.
2. Logistics and supply
Once your product has been created and produced in record time, the baton is passed to teams on the logistics side. Numerous departments have a role to play in this phase of the product life cycle : accounting, sales and logistics teams have to collaborate to ensure orders and stocks are properly managed.
The use of an ERP dedicated to company management will help to make this phase easier. This tool enables you to centralize the information required for accounting, sales and stock management. Data relating to purchase orders, prices and inventory can be managed, structured and standardized within the ERP so that your company has a shared, unified vision of the data linked to its activity. It means processes can all be based on the same information
3. Product distribution
You have created a fantastic product, the price is ideal for your target audience, and you have plenty in stock. Well done ! All you have to do now… is simply sell ! But before diffusing your product on your different sales channels, your e-commerce and marketing teams have to ensure the product descriptions meet quality standards and are fully available. This includes creating technical and marketing information, doing translations, making product associations (upselling and cross-selling) and linking the appropriate media (photos, vidéos, packshots,…).
There, your new product is on sale ! With the help of dedicated tools for each phase you can now manage your data throughout the product life cycle and optimize the quality of your product data when it goes live. From here on after, by taking a structured and collaborative approach to your data, you can rest assured you will have pristine product pages in your points of sale, on your website, in print, and on marketplaces.
Your omnichannel marketing strategy has been smoothly implemented, friction is now kept to a minimum, and the work your teams do has been optimized. Your processes are automated and your team has been freed up to focus on bringing value through more important tasks. Now on to the next exciting product development …
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