FullTilt Survey: Consumer Goods Companies Struggle with Product Information Management.100% Of Respondents Reported That the Quality and Consistency of Product Information is a "Major Concern." WAYNE, Pa. -- FullTilt Solutions Inc., a leading provider of enterprise Product Information Management (PIM (1) (Protocol Independent Multicast) A multicast routing protocol endorsed by the IETF. Used in conjunction with an existing unicast routing protocol, it comes in two flavors: Dense Mode (PIM-DM) is used when recipients in the target group are in a concentrated ) solutions, today released its survey of top consumer packaged goods' executives who are involved in various aspects of supply chain initiatives at their companies. The results showed that 100% of survey participants believe that the quality and consistency of product information is a serious problem for their organization. There was also unanimous agreement that the lack of product information management leads to an increase in stock-outs, inventory on-hand and other supply chain inefficiencies. Some other key findings from the survey: * More than two-thirds (68%) reported that data quality is "mission critical" and an additional 16% say they are "very concerned" about the impact of data quality on business analytics. * More than half (56%) reported that their product information is not integrated with supply chain partners and they need to do more. Only 28% report being fully integrated. * 56% also reported that their product information is in disparate application databases or multiple enterprise databases. * And while 40% are developing a strategy to address the issue of product information management, almost a third (32%) are NOT looking to address the problem at this time. "The consensus in these results proves that product information management is a big problem for consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and companies," stated Tim Wallace, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of FullTilt Solutions. "These executives identified key metrics such as delays in new product introductions, invoice errors, excess inventory and higher stock-out rates as a result of not having a product information management solution." The survey also showed that more than half of the companies (52%) are not compliant with retailer mandates of synchronizing all product information with their trading partners. For a detailed report of the survey or to learn more about FullTilt Solutions visit www.FullTilt.com About FullTilt Solutions FullTilt Solutions, Wayne, Pa., is a leading provider of enterprise Product Information Management (PIM) solutions. FullTilt focuses on providing solutions for the Consumer Packaged Goods Noun 1. packaged goods - groceries that are packaged for sale foodstuff, grocery - (usually plural) consumer goods sold by a grocer plural, plural form - the form of a word that is used to denote more than one , Retail, Electronics, MRO MRO In currencies, this is the abbreviation for the Mauritanian Ouguiya. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. and Life Sciences industries. FullTilt's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , Perfect Product Suite(tm), automates, manages and optimizes the business processes required for the complete and accurate internal and external data synchronization Keeping data in two or more computers up-to-date so that each repository contains the identical information. Data in handheld devices and laptops often require synchronization with the data in a desktop machine or server. necessary for perfect Internet enabled commerce. FullTilt provides product centric Master Data Management (MDM (Modular Digital Multitrack) An audio recorder that mixes and records multiple tracks of digital audio. The two major MDM technologies are ADAT and DTRS. See ADAT and DTRS. ) for all vital product related attributes and relationships throughout the enterprise and for all trading partners. FullTilt provides data synchronization to GDSN GDSN Global Data Synchronization Network GDSN Guardian Digital Secure Network GDSN Global Digital Seismic Network certified data pools including 1SYNC and Agentrics. Founded in 1987, FullTilt has been implementing enterprise PIM solutions since 2001 at leading organizations such as: McCain Foods, Premier, Inc., BDI BDI Burundi (ISO Country code) BDI Beck Depression Inventory BDI Belief-Desire-Intention (AI agents) BDI Baltic Dry Index BDI Basic Driver Improvement (traffic school) , Watts Water Technologies, Brady Corporation, Hagemeyer, Mouser Electronics and Thomas & Betts. Further information about FullTilt Solutions and its products is available at www.fulltilt.com FullTilt, FullTilt Solutions, FullTilt Perfect Product Suite and the FullTilt logo are registered trademarks of FullTilt Solutions, Inc. All other company and product names are trademarks or registered trademarks of their respective owners. |
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