Creating value for CPG brands starts with optimizing the value of CPG data.
The proliferation of new apps, platforms and services has been reshaping consumers’ shopping behavior for years. Responding to consumer demands with agility, leveraging new technology and unified commerce requires a trusted data foundation.
Master data management (MDM) helps CPG companies govern their data to make it fit for commerce, compliance, supply chain optimization and analytics.
Newell Brands is a leading global consumer goods company with a strong portfolio of more than 100 well-known brands. Eric Long, Director of Global Ecommerce at Newell Brands, explains why they chose Stibo Systems’ solution, to centralize their product master data.Watch the Video
When data moves quickly and confidently to meet retail partners’ needs, products move fast, too. Your speed to market depends on your ability to share high-quality data with retailers and distributors.
Delivery of complete, consistent and accurate content enables good customer experiences and profitable relationships with retailers.
Stibo Systems’ data syndication tool allows you to build robust and streamlined processes to share product data with retail partners and other channels, such as Amazon, 1WorldSync, Nielsen Brandbank, Walmart, Meijer, Manutan, Office Depot and many more.
Automated product data syndication enables time saving, reduces manual processes, minimizes errors and allows your business to scale.
Digital transformation and new customer experience initiatives depend on your ability to access trusted information sources across the organization. An MDM solution allows you to connect internal systems into a single source of truth and improve processes and data quality with integral data governance capabilities and workflows.
Your data foundation and processes are key to becoming data-driven and developing new opportunities for efficiency and growth, including:
By connecting different data domains, you can gain extraordinary insights to fuel customer experiences, analytics and decision making.
The data governance capabilities of Multidomain MDM enable you to move from traditional customer segmentation to hyper-personalization.
Consumer goods companies are facing increased sustainability demands from retailers and regulations.
The CPG industry needs to provide substantial responses to purpose-driven shopping, as well as to institutionalized concerns for local communities and the climate, such as expressed in the UN’s Sustainable Development Goals.
Sustainability demands have fostered a new set of master data attributes that must be managed, including certificates, packaging information, raw material data, sourcing data and information about disposal or recyclability.
An MDM solution can help CPG companies integrate supply chain systems and set up workflows to ensure that all relevant data is captured, cleansed and made available for stakeholders. The integral data governance capabilities of MDM are a key enabler of environmental, social and corporate governance (ESG) goals. Data governance enables:
Data checkpoints push the organization forward to reach its sustainability goals. Incomplete and non-compliant master data records are automatically prevented from gaining approval, stopping inaccurate and low-quality information from reaching retailers or the end consumer.
Consumers have adopted more digital approaches to buying, and while value and convenience are still important criteria in purchasing decisions, purpose-driven shopping has increased in importance.
As online shopping continues to grow, CPG companies need to develop and strengthen direct-to-consumer (D2C) strategies, a process fraught with both opportunities and challenges. Competing against consumer brands requires a new level of data agility. Data might not be rich enough to meet D2C sales goals, or the organization may not have the talent to execute fully on D2C goals. Furthermore, both B2B and B2C customer data need to improve. Data must be fit for consumer commerce. This includes rich and localized product content, as well as information that enables consumers to make buying decisions.
Use MDM to integrate different data sources, workflows and governance into a unified data foundation. This enables you to operate with greater speed and confidence. With data and processes that are fit for purpose, you can accelerate sales across channels and capture more of the ecommerce market.
A D2C strategy fueled by high-quality data allows you to:
An MDM solution can help you achieve this by:
Using Multidomain MDM, CPG companies can integrate product, supplier, customer and other critical data into a single platform that connects data and enables insight across all channels.
CPG companies have long and complex supply chains with many movable parts that generate data. Optimize your supply chain with increased data transparency to mitigate risks and discover efficiency gains. By integrating suppliers into the master data repository, consumer goods manufacturers can streamline the data supply chain and ensure approvals and compliance.
Using MDM to capture not only item data, but also supplier master data, can provide you with a 360° view of your supplier network. This allows you to onboard new suppliers faster and ensure supplier performance and end-to-end transparency. With enhanced data transparency, CPG companies can build redundancy into their supply chains by identifying alternate suppliers for critical inputs, avoiding potential business disruptions.
Some major advantages of using MDM for supply chain optimization are:
With a single view of your product, supplier and distributor information, you can track products throughout their lifecycle, acquire new product information from suppliers and deliver it quickly and accurately to the systems that need clean master data.
Improve supplier relationship management by quickly onboarding, managing and controlling supplier master data for a single and transparent view across the end-to-end supply chain.
We are completely satisfied with our experience with Stibo Systems MDM. Our aim was to set up a in house managed services for Product Information Management using MDM processes to provide solution to our existing and new customers. So far we had a pretty great journey with Stibo and they have helped us all the way. Another added advantage we had that it supports various platforms collaborations along with support for various eCommerce standards like ETIM."– Manufacturer, submitted April 14, 2020