Retail

To minimize your time to market, you need an automated end-to-end process of onboarding, cleansing and enriching product data. It needs to be accessible from a single repository and easy to share with your points-of-sale.

Your ability to be agile and efficient depends on the master data management that supports your product information lifecycle. Stibo Systems offers a single MDM platform that can automate product onboarding and transform product and supplier item data to fit the formats of your sales and marketing channels.

By using MDM, you avoid the slow and error-prone process of manual work. Workflows and AI-enabled auto-classification help ensure data quality is maintained and fit for purpose at any time.

To win on the digital shelf as well as in-store, you need to be able to publish accurate and purposeful content in each of the channels in an agile and easy way. This will reduce your manual workload and time to market.

Customer experience is related to the way a retail organization understands and addresses diverse customer needs through the journey. As a retailer, you need to deliver accurate, updated and timely information on products, services and locations, as well as transparency and consistency in every interaction. This requires a data platform that can coordinate and integrate multiple departments (e.g., ecommerce, stores, warehouses, marketing and customer care) and different types of master data.

Master data management (MDM) is a key discipline to develop superior customer experiences and personalization strategies. It enables you to obtain and manage data about your customer beyond ordinary demographics, including product and service preferences, location data and consent.

Stibo Systems MDM has built-in data management and governance capabilities that retailers can leverage to build a true 360° customer view.

By its ability to govern different data domains in conjunction, MDM can provide deeper insights into the customer journey and customer preferences. For example, managing customer and product data together, enables retailers to see how a product is used, which can increase relevant cross-sell opportunities; and managing customer, product and location data together can help retailers to localize product offerings and advertise product availability and services in specific locations where rules may vary.

Governing cross-domain and contextual relationships is a key functionality to anticipate customer demands and create hyper-personalization strategies.

Customer experience in a hybrid environment, where digital channels and social media are coexisting with physical stores, is closely linked to information accessibility and consistency across channels and touchpoints. It’s not enough to connect channels and systems. Retailers need to manage and govern the data feeding the channels to make it coherent, structured, rich and updated according to each channel’s requirements and role in the customer journey.

Your ability to set yourself apart from the competition hinges on your ability to collect and deliver relevant information of different types:

• Rich and trusted product information, including specifications, digital assets and reviews, must be available throughout the customer journey to enable a consistent experience at every touchpoint.
• Customer information, including contextual data and consent, needs to be collected and managed to accommodate preferred pick-up locations, premium delivery services and loyalty program conditions.
• Location data is crucial to tie physical store information into your omnichannel network.
• Leveraging supplier data can help retailers provide deeper information about product origins and manufacturing methods at relevant touchpoints.

Retailers who take action to provide this information will experience a significant drop in product returns. The richer and more coherent information is served up across channels, the more likely the customer is to make an informed buying decision. Particularly online channels rely on accurate information to bridge the information gap between the online and the physical experience of a product.

Master data management enables omnichannel execution with flexible data models, enrichment, activation of core data domains, automated data workflows and by connecting applications to a trusted master data repository.

Complex supply chains, including sub-suppliers, increases exposure to risk. Remote production facilities, cross-border trade, shipping, storage and packaging generate a huge amount of data to track.

Increased regulation around product data requires retailers to apply control mechanisms in the product information lifecycle from supplier to end-consumer.

Master data management (MDM) provides you with the needed end-to-end data transparency and a single source of truth, enabling you to achieve compliance with the least possible effort:

• Track supplier compliance to prevent or mitigate risk of recalls
• Keep track of contracts, licenses and supplier performance in a structured and transparent way to make sure that you live up to your sustainability goals and ESG standards
• Provide your customers with trusted data so they can make informed decisions on what and where to buy and minimize delays in the buying process

MDM for customer and employee data management also supports compliance with personal data protection laws. By managing consent and metadata, you can ensure accountability and transparent processes. Deduplication capabilities and integration with third-party sources ensure that personal information is always up to date.

Material shortage, supply chain disruptions and facility shutdowns can be damaging for the unprepared retailer. You need to be able to expand with new partners and onboard new suppliers quickly.

Supply chain management involves supplier search and identification, onboarding, qualification and contract management, performance management and deactivation. Using Stibo Systems Supplier Master Data Management (MDM) can help you enhance the supply chain integration and make your organization nimble.

Supplier MDM supports a 360° view of your suppliers and provides you with actionable insights:

• Feed analytics and other solutions with trusted data to help balance supply and demand
• Automate data quality processes to reduce onboarding time and eliminate errors
• Ensure alignment and gain intelligence to manage suppliers and negotiate better contracts
• Improve engagement and collaboration with suppliers through ready-to-implement interaction workflows
• Integrate with third-party sources such as logistics service providers

Getting insight into the connection between suppliers and product categories can help you understand what your top margin products are and analyze supplier alternatives. This can help you reduce the disruption risk. The expanded visibility throughout the value chain is an efficient way to control and manage risk as you can anticipate problems and therefore define corrective actions.