How Does Product Information Management Easily Manage Millions of SKUs? What is the PIM process?
Updated on April 14, 2022 | By Alex
E-commerce businesses are challenging and can become daunting in no time. With the changing online business scenario, it becomes difficult to cope with the necessity to reach multiple audiences and their needs. E-commerce websites can face data discrepancies or have to do several tedious, repetitive, and time-demanding manual tasks.
However, in the digital era, Product Information Management (PIM) systems are great to overcome challenges that occur due to mismanaged data.
The PIM process is steps to handle all the content, data, information, and other such materials that an organization needs to sell and market its products. PIM Solution ensures smooth multichannel distribution and offers quality data for internal use.
PIM process is undertaken during https://www.credencys.com/product-information-management/ the development, implementation, or renewing of PIM response. Product information management systems use tools and software that enable online businesses and companies to consolidate or easily manage their whole product catalog. It stores information databases, centrally. So, a PIM is a process of data, data quality, and digital asset management. Also, it helps in workflow management, data modeling, omnichannel publishing, data integration, and much more.
Are You Wondering Who Uses the PIM System?
Well, the answer is- all those companies who deal with immense amounts of data and information. It is best for companies who sell their products across various channels and market products faster than the competitors. With PIM tools, any company can stop juggling large amounts of data by using a simple, convenient central product that offers standardized quality data for company-wide use.
How does PIM Manage Millions of SKUs?
Stock Keeping Unit (SKU) is a scan-able code or barcode which is a combination of various alphanumeric numbers. This code is generally present on the products and helps in the identification of products with certain characteristics and also aids in differentiating products from one another.
If your company’s current PIM system is not sufficient enough to manage automated and quality data, then it hampers your business growth. Choose a PIM system that easily manages millions of SKUs and lets you work flawlessly.
Effective Management of Product SKUs of Various Region
PIM offers multiple hierarchies of product SKUs. It stores all the information and data related to product SKUs in a centralized location, in an organized fashion for different regions, countries, and languages.
PIM gathers all the data from various sources and uses that data to different customer touchpoints across the regions and countries from a centralized place. This helps to increase the sales and marketing of products.
Leverage PIM Automation
Even in the digital age, many companies still manage their orders, products, and catalogs manually. Various organizations accept order placement through a phone call or fax.
However, with so much manual intervention, the chances of disorder, inefficiency, time consumption, and mismanagement are higher. With a manual process, it becomes tricky to get meaningful insight into customer behavior, product patterns, tracking inventory, etc. This leads to less productivity and results in huge losses.
With the PIM system in place, the software helps the company to store and manage product data to one single platform irrespective of the product SKU size and quantity. It keeps consistent data and the company can leverage quality data for various purposes. PIM software and the automated system help the organization distribute quality product information throughout various output channels.
Organize with Data Model
PIM enables the organization with the data model. It has the capability of managing massive amounts of data from anywhere, in any domain, attributes, and relationship. Your company or team can effortlessly access the store SKUs in real-time. PIM keeps the SKUs organized and well-structured by defining family or category to make them readily available throughout the product life-cycle. With PIM management of millions of product-related SKUs of a plethora of attributes becomes easy.
Also, PIM shares all the data through effective tools, and data models enable the creation of hierarchy levels. Thus, the chances of data duplication are zero. PIM offers full flexibility to adapt the data model as per the organization’s needs.
Your team can always access any data from any system, software, or tool. The system offers freedom to make required changes, addition or deletion of data to the existing one in real-time. As PIM offers multi-level hierarchies, your organization can create or manage the product information in the product-related groups.
PIM for Product Catalog Management
Management of a large product catalog is a big challenge in the inventory and warehouse management system. This prominent challenge raises problems related to the responsiveness of the website, data governance, page loading, real-time data sync issues across various channels, product workflow streamlining, etc.
PIM tool is a responsive and scalable platform. It easily takes care of a large product catalog. It offers real-time syncing of data through various sales channels by managing any size of catalog effortlessly. PIM tools offer data integrity that helps in the management of those products’ whole life cycle is about to end. It sends a notification for stock acquisition.
Effortless Integration with Software or Systems
Another hurdle for any business is its connection with Enterprise Response Planning (ERP) and Webshop. Every company needs seamless and convenient access to its large number of SKUs. For that, they need a great system that can make automatic changes in their product prices. The system should be able to delete expired data and offer bespoke offers or services to its customers. All these factors increase customer experience.
PIM software and systems can easily integrate with any of the company’s existing software and can efficiently manage the webshop or website through a centralized platform. With such powerful integration of ERP and PIM, companies can have multiple automated changes and access to quality product information in real-time. PIM enables you to process product SKUs, pricing, customer data, etc seamlessly.
Do not make blunders by opting to work manually. PIM solutions, systems, and tools are new-age solutions that can help your organization to work more efficiently and for maximum profitability. PIM is a great system to handle millions of product SKUs accurately along with the attributes. It ensures smooth internal operations and no data discrepancies.