IRCE-2014_Ecom-Tech-Workshop_2_PIM_Maignan-Lee

Technology Workshop 2014: Product Information Management (PIM)
Conquer the Pain Points
and Capture the ROI of Product
Information Management Systems
Cynthia Rodgers Maignan – Director eCommerce Content Strategy, Office Depot
Ryan Lee – Tech Manager, Gorjana & Griffin
Bernardine Wu – CEO, FitForCommerce
#IRCE @FitForCommerce

Yes
62%
No
23%
Don't Know
9% Not
Applicable
6%
Source: Information-Management.com
Are you actively evaluating master data management
technologies and their ability to scale and support
emerging trends around big data, social and mobile?
Data Management Under Evaluation
2

Sources: AT Kearney, AMR Research
Data Issues Mean Real $ Impact
3

Why PIM?
4

5
Opportunity to Re-think/Re-engineer

Office Depot, Inc. is a global supplier of office products and services.
The company was incorporated in 1986 with the opening of our first
retail store in Fort Lauderdale, Florida. Formed by the merger of Office
Depot and OfficeMax, Office Depot, Inc. is a leading global provider of
products, services, and solutions for every workplace - whether your
workplace is an office, home, school, or car.
TWO GREAT COMPANIES have come together to create a stronger,
more efficient global provider of office products, services, and solutions,
fully committed to setting a new standard for serving the workplaces of
today and tomorrow through innovation and exceptional customer
experiences.
6

LET’S START BY EXAMINING
SOME OF THE
PAIN POINTS OF PRODUCT DATA
Where are you on the Scale 1 -10?
7

Data from Multiple
Sources
Unclear
Roles/
Multiple
Users
Legacy Systems
Excel
Spreadsheets
Inconsistent
and Poor Data
Quality
Manual Processes and
Lack of Workflows
No Data
Validation
Erroneous and Out-
Dated information
A FEW PAIN POINTS…
8

DISPARATE MERCHANT AND
VENDOR SYSTEMS
The back and forth exchange of
erroneous and insufficient data and
processes
significantly contribute to delays in
introducing new product to the
market!
9

NO Data
Validation
NO Data
Governance
No Required
Fields
VENDOR DATA SUBMISSION
10

These Data Examples Simply Create
PRODUCT INFORMATION MADNESS!
(not the PIM we are looking for)
11

Source: Data Synchronization by John L. Stelzer, GS1.org
And each of those errors costs $60-$80 to address.
30% of item data in catalogs used by retailers and
manufacturers for replenishment of stock is in
error…
SO, WHAT DOES BAD DATA
COST YOU?
12

Missing Hard Drive Capacity
Missing Ecolabel
Missing Audio Hardware
Bad DataGood Data
Missing key
attributes to
close sale
13

DON’T LEAVE YOUR
CUSTOMERS FRUSTRATED…
Product Information must be high quality, relevant and easy to
read and understand for customers to make a buying decision.
14

TO RELIEVE MANY OF THESE
PAIN POINTS
IMPLEMENT A PIM SYSTEM
15

LET’S LOOK AT SOME OF
THE BENEFITS OF PIM
Centralizes and streamlines all
product data and synchronizes
with multiple systems
Introduces Data Governance and provides role based
security to maintain data integrity across the organization
Ensures data accuracy through identification of required
field and defined list of values in vendor portal
Manages data validation to
improve data quality and
support data governance
Establishes workflows with
check points and approval
processes
Allows for mass maintenance
capabilities to manage updates to
multiple products
16

Without
PIM
Poor Customer experience
with inadequate
descriptions
Data not used to drive web
functionality
Unable to use data to
enhance search and
compare functionalities
Results in system silos and
hard coding for static
results
With
PIM
Best Customer Experience
with enhanced product
descriptions
Improved use of data to drive
web functionality
Use data to provide complete
comparison shopping and
enhanced search
Provides an avenue for
system integration and
upgrades
S
U
M
M
A
R
Y
17

IDENTIFY THE RIGHT PIM SYSTEM
KNOW YOUR SPECIFIC PAIN POINTS
•Focus on your organizational needs
DO YOUR HOMEWORK TO NARROW DOWN RESOUCES
•There are many PIM systems out there – research unbiased sources
OBTAIN A RFI/RFP FROM TOP THREE TO FIVE RESOURCES
•Request a presentation with sample data from final contenders
ACKNOWLEDGE A PIM IMPLEMENTATION IS ORGANIZATIONAL CHANGE
•Process creates new assignments, approvals, workflows and data governance to ensure data quality at the
source
CROSS-FUNCTIONAL RESOURCE COMMITTMENT
•Requires dedicated resources internally and with consultants
18

PIM
Web
Catalog
Vendor
Portal
Digital
Assets
Print
Catalog
3rd
Party
Data
Supply
Chain
Retail
Mobile
PIM
CONNECTS CENTRALIZES
CONSISTENT PRODUCT INFORMATION
19

PRODUCT DATA IS AN ASSET
DATA PIM REVENUE
Organizing product data can dramatically
increase sales, margins & customer loyalty
20

CAPTURE
With An Investment in PIM
•Ensures data quality at its source
•Leverages product content and data consistently across multiple
channels to enhance customer expectationsR
•Improved data quality helps customers make better and smarter
decisions with greater ease than competition
•Provides a competitive advantage when product information is easily
formatted to enhance rich content
O
•Build sustainable and scalable processes required for future growth
•Drive more revenue and conversion ton the siteI
21

Sample of Data Governance Model
INTRODUCE DATA GOVERNANCE
TO SUPPORT PIM
Business Mission Metrics and Tools
Organizational &
Company Policies
Business Strategy &
Processes
Data
Governance

PRODUCT INFORMATION IS…
The
HEARTBEAT
of ANY
online
business
It is the details of the data in product information, attributes and specifications, that
encourages the end user to take action…and ultimately make an online purchase.
23

• Jewelry, Handbags,
Shoes, and Accessories
– 10,000 SKUS
• 40 collections
• 25-50 skus per load
• Tech Department (2)
– Tech Manager
– Tech Associate
24

Challenges
• Multi-channel
– Retail (B2C)
– Wholesale (B2B)
• Work-flow & Process
– Department Accountability
– Turnaround
– Scalability
• Data Entry Errors
• Platform Knowledge
• Time to load
• Server speed
• Data storage
Infrastructure Resources
25

Solution
Product
Information
Management
• Platform
Integration
• Consolidate &
Store
• Automate
Your Process
• Publish
• Image
Management
• Save Time &
Sell More
Chicago, IL – www.clarastream.com
+
26

Results
• Data accuracy & efficiency
Product validation
Streamline process
• Shorten time to market
Schedule flexibility
Capitalize on opportunities
• Implementation of work flow
Responsibilities
Accountability
• Savings in resource costs
Lower payroll
Less infrastructure
27

• Perspective
– Keeping it simple
– Effects on employees work flow
• Building guidelines
• Setting goals
• Working with experts
– Clarastream
• Finding the right partners
What We Learned
28

Moving Forward
• Automate Product Categorization
• Advance Merchandising Features
29

Q&A
Cynthia Rodgers Maignan
Office Depot
cynthia-maignan@officedepot.com
Ryan Man Lee
Gorjana & Griffin Inc.
leeryanman@gmail.com
Bernardine Wu
CEO, FitForCommerce
irce@fitforcommerce.com
30

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