Product information management app aims to help marketers, retailers, suppliers synchronize data for better brand execution
Richmond, CA — January 13, 2004 — Retail industry solution provider QRS this week debuted a new product information management solution designed to help brand marketers, suppliers and retailers unify and synchronize product information for more effective global brand execution.
QRS said that its new IMPACT solution provides a single, global repository of product information within a company, helping to ensure the on-time, accurate and relevant flow of information across departments, diverse channels and trading partner syndication points.
A centralized product information repository can be key to helping both retailers and brand marketers conduct more efficient, cost-effective business, QRS asserted. By improving the accuracy, quality and accessibility of product data, both the retailer and the supplier can reduce costs and errors, while improving brand equity and increasing their ability to compete in a highly aggressive market, according to the solution provider.
"An end-to-end data synchronization strategy should be a priority for the global retail trading community," said Andrew White, a research director at technology consultancy Gartner. "The right combination of product information management and data synchronization solutions will have a significant impact on driving effective merchandising, improved inventory control and enhanced customer service."
With that in mind, QRS said the integration of its Catalogue and IMPACT solutions provides brand marketers, suppliers and retailers with an end-to-end solution designed specifically for the retail industry. IMPACT helps manage internal data, enforce workflow processes and publish highly targeted content, while Catalogue manages the synchronization across companies and trading communities.
The provider said that by offering supply chain participants access to universal, standardized electronic product information, its solution establish a foundation on which effective global brand execution can be built.
The benefits of instituting an end-to-end data synchronization solution may include fewer out-of-stocks, increased speed-to-market, reduced costs associated with correcting inaccurate information and improved response to consumer demands, ultimately enhancing a company's brand equity, QRS asserted. The provider also points to such other potential benefits as overall improvements in companies' supply chain costs and a boost to the bottom line.
Said Liz Fetter, president and CEO of QRS: "The increasing need for greater detail and higher quality product information has led us to offer a solution that tackles the problem where it starts, inside the company. IMPACT ... will help our customers by extending the benefits of data synchronization into their own organizations and internal processes, enabling more effective global brand execution."