The life cycle of a product is the set of phases it goes through from design and manufacture, through distribution, use and through to end-of-life and recycling.
Each stage generates, modifies or uses critical data that impacts impact inventory management, traceability, logistics processes and the quality of information information for consumers.
By controlling every stage of the life cycle and ensuring optimum quality, companies in the Retail transform product data into a competitive advantage.
Product life cycle, impact on data :
Challenges
The stage of the life cycle in which a product is, has been or will be, as well as changes in the data describing it (corrections, enhancements, etc.) have an impact on all tools and users.
The data model, processes and associated tools must be capable of integrating and anticipating these evolutions, so as to distribute the "right" information at the right time to the business lines and tools concerned, while retaining the memory of changes.
The challenges encountered and often underestimated are mainly :
- Data storage and access (fresh and/or historical) and consistency of distribution
- Identifying the right product perimeter for a given use
- Recycling product identifiers
- Definition and implementation of business rules for data validation and standardization
- Quality monitoring, data cleaning and corrections
- Continuous adaptation of processes, data models and tools to changing standards and regulations
Example: what happens when a product is delisted?
Impact on processes:
where, when, how and why
- Receive information and alerts?
- Recycling identifiers?
- Save history?
- Adapt management and validation rules?
- Disseminate information?
Business impact :
- Is there a replacement reference?
- Does pricing have an impact
- How to distribute remaining stock?
- What is the impact on sales analysis and other management KPIs?
The solution
To respond to these issues, it is essential to set up a high-performance repository (PIM/MDM...) which must be THE source of truth for all product data, but the tool alone is not enough.
Our beliefs :
- It's important not to focus solely on the tool, but to take into account the business needs and constraints expressed, challenge them, and justify them if necessary.
- It is essential to formalize and document all possible use-cases throughout the product life-cycle and their expected consequences for tools, processes and organizations.
- The quality of the link between business and technology is a key success factor
