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Today, trading partners are facing high and unnecessary costs due to master data problems such as supply chain information inefficiencies and inaccurate data in transactions. In addition, globalization of trade has generated an accelerated need for smooth inter-company flow of information and better control of supply chain processes, which can be achieved via synchronized communication among trading partners. By continuously synchronizing/harmonizing the master data between an organization’s system and trading partner’s systems, an organization can ensure that master data is the same in all systems. This can enable global trade, increase data accuracy among trading partners, and drive costs out from the supply chain.
The Solution: i2 Product Information Management
i2 Product Information Management is designed to support data initiatives for organizations that view data as a corporate asset and for organizations wanting to create data-centric architecture to gain competitive advantage. Based on a service-oriented architecture, the solution is designed to support the data model and the associated process model for different types of data, such as meta data, reference, transaction, operational, and analytic data.
Key capabilities of i2 Product Information Management can include:
- Creating an enterprise-wide repository of product content
- Establishing a “single point of truth” that enables organizations to better plan, execute, and monitor operations
- Managing product life cycles
- Enabling assortment maintenance for seasonal variant or packaging reasons
- Providing rich hierarchy maintenance capabilities to meet departmental goals
- Enabling data synchronization with data pools
Benefits of i2 Product Information Management can include:
- Increased sales resulting from improved customer relationships
- Reduced stock-out positions
- Improved product assortments
- Increased cost savings in warehousing and logistics due to fewer inaccuracies about products being shipped
- Reduced number of invoices that require adjustments
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