Product information management (PIM) is a system which allows for efficient communication of all product details, from marketing and pricing details to inventories, to technical specifications, to sales leads and customer service details. Product information management helps in the decision-making process because all the relevant facts can be communicated at the right time to the right audience.
Product data management can be described as the system of managing and storing all the relevant data necessary to sell and promote products via multiple distribution channels, including retail, manufacturing, and distribution. An internal company to support a multi-channel marketing strategy generates this product data. It is necessary to have a detailed product data management system because it helps to build up a client-satisfaction index. In other words, having proper product information management reduces cost, saves time and increases efficiency.
A product information management system can be described as a database which contains the basic information about the products. These systems can also include information such as product descriptions, sales orders, marketing strategies, product specifications, product development timelines and technical details. This system also keeps track of inventories and manufacturing and shipping procedures. This system can also be used for marketing campaigns. There are numerous other functions such as data processing, software integration, quality control and testing and maintenance of the database. For more info on this page, read about pim.
The product data management system consists of several components such as the product description database and the product specification database. The product description database is used to describe all the specifications for the product, including design specifications, quantities, dimensions and materials used in manufacturing. The product specifications database is used to provide a reference manual which contains all necessary details to specify and customize the product specifications.www.goaland.com/what-is-a-pim
Product data management also includes product marketing plans, which usually includes the target group, the time period, the target audience, the targeted price range, target product categories and targeted demographics. Product marketing plans are important in determining the type of marketing that will be conducted for the product and how much marketing effort will be exerted on the target market. Marketing is one of the most important functions of a successful product management system. Visit this site for more info.
The product information management system should be designed and managed by a specialized company, which is responsible for all aspects of the product information system. For instance, if a company produces a digital camera, they would need to have a camera database that contains information such as the features of the camera, the prices, the price ranges, the number of cameras that will be produced, and all specifications related to the camera. You can get more enlightened on this topic by reading here: https://en.wikipedia.org/wiki/Information_system.