CPIM for Retail

Velosel says new collaborative product information management app supports retailers' data synchronization efforts

Mountain View, CA — June 9, 2003 — Software company Velosel today rolled out a new collaborative product information management (CPIM) application for the retail industry, a solution designed to allow for the creation and maintenance of the enterprise data repository and global data synchronization.

The provider says that Velosel5 Retail Edition combines product information management capabilities with business process automation to facilitate intra- and extended-enterprise collaboration for retailers.

The new solution is designed to address the data management, integrity and synchronization challenges facing retailers. The application provides a collaborative platform to synchronize product information with trading partners, augment it with extended attributes supplied by individuals and information systems within the organization, and align this data with internal systems and target applications.

Velosel5 Retail Edition addresses such retail processes as item and category management, global data synchronization, new product introductions and promotions management. Velosel says that the solution's benefits can include reduced data management labor costs, faster time-to-shelf, reduced invoice inaccuracies and costly deductions, and reduced inventory levels, while minimizing stock-outs/shelf-outs.

Other benefits could include fewer shelf-tag and scan errors, reduced cost of logistics, improved warehouse receiving and foundational support for radio frequency identification (RFID) initiatives, according to the solution provider.

While tailored specifically for retailers, this new application builds on Velosel's CPIM technology for manufacturers used by such consumer goods companies such as Campbell Soup Company, The Clorox Company and Wyeth.

The solution provides data models and processes to support the product information lifecycle. It offers capabilities for the creation and maintenance of the enterprise data repository, the centralized, "single version of the truth" for all product information across the enterprise, including basic and extended item details, pricing and promotion data.

The retail edition also automates processes for data validation, cleansing, enrichment, categorization, customization and transformation, with the goal of reducing time spent on data management activities and eliminating unnecessary human steps and errors. The application is roles-based with full accountability monitoring, ensuring designated individuals provide the right information at the right time.

The solution provides out-of-the-box connectors to UCCnet and data pools, including Transora and WWRE. The application also offers open application programming interfaces (APIs) to integrate with internal back-end systems, such as point-of-sale, purchasing, merchandizing, category management and store-level systems via support for multiple enterprise application integration (EAI) tools.