The transactions allowed the group founder and chairman Park Hyeon-joo and his family to pocket profits
By taking advantage of the "golden opportunity," Amazon would provide more competition to FedEx and UPS.
Confusion over the program emerged after a media report said it would cover half of the travelers' expenses
The HNA Group continues to sink in a pile of debt as its aviation portfolio being hit hard by the pandemic
The company noted that loungewear and athleisure products were highly in strong demand as people have to stay at home.
Benefits of a PIM system for business efficiency
One of the greatest goals business management is to improve productivity in all their departments and obtain a substantial improvement in terms of efficiency.
Today, technology is reaching out to companies in order to increase their competitiveness by using tools such as the PIM system.
What is a PIM?
The abbreviation PIM is an acronym for Product Information Management. With a PIM system, it is possible to gather information on all the products of a company and distribute it efficiently through an all-channel environment.
In other words: a PIM system gathers all product information, files and contacts in one place.
Benefits of PIM software
The use of this tool allows the creation and distribution of product catalogs in real time with a private and previously authorized access system.
By using a PIM system there is a significant saving of management time and a high reduction of spreadsheets due to the automation of data analysis with an intuitive UX that simplifies the daily work with complex data.
Improvements in efficiency
A PIM system provides multiple solutions that result in a significant improvement in business efficiency.
Any task done manually involves a considerable loss of time and money. PIM software automates more of a company's daily processes faster and more competently.
This way, the PIM system allows the teams of each department to invest their time and skills in creation processes thus providing greater efficiency.
Trade competitiveness depends on participation in the global market, which means an increase in the number of contacts between producers, suppliers and customers in different areas for which international standards must be adapted.
Through the PIM system, the company adapts its product classification to the parameters determined at the international level, enriching the specific attributes of each one.
The success in defining possible and achievable objectives brings efficiency to the firm since there is no waste of time, money and effort in the fight for impossible goals.
Defining possible objectives through motivating protocols based on the analysis of data and figures in accordance with market reality is one of the pillars of management of a good PIM system.
It's the M.O. of a PIM. Its primary function is the addition of information from different sources through mapping and merging functionalities that import data from different points and combine the content data for more complete information.
The PIM system performs a classification of products by grouping related or similar ones in terms of information content so that it is possible to offer the customer added value of comparison or combinations of products and references.
Cross-referencing to other items is a method of enriching information and substantially increasing sales.
Providing work teams with updated data in real time allows for more agile and reliable problem solving. This avoids constant meetings and increases efficiency and productivity by investing time in work execution through secure business intelligence access.
This article does not necessarily reflect the opinions of the editors or management of EconoTimes.