Mikael Lyngsø

Businesses have worked feverishly to optimize their physical supply chains. However, a growing number of retailers are taking a similar interest in optimizing the flow and management of the related product information. Merchants must look beyond a Band-Aid approach to their strategic multichannel information challenges and find a holistic, full-cycle approach that enables management teams to continually receive and use accurate strategic information about their products, customers and suppliers to develop a sustainable competitive advantage. Done correctly, this approach can result in seven critical benefits:

Retailers today face an intensely competitive marketplace with unprecedented challenges and opportunities. With the emergence of a greater variety of channels, an abundance of product options and easily accessible online price comparisons, consumers now demand better service and lower prices. The ability to ensure that the right product is available at the right place and at the right time is critical. Organizations that can react faster tend to come out on top.