Global ecommerce sales are projected to reach $6.5 trillion by 2023, and the need for businesses to excel in the digital market space has never been greater.

To be successful in omnichannel retail, enabling powerful product experiences through every touchpoint is paramount for every retailer in a space full of competition.

However, most businesses find it challenging to keep up with the increase in complexities, especially in product information management.

To be precise, the necessity of accuracy and consistency can sometimes become an burdensome task throughout a product's life cycle.

The sheer volume of product data, constant need for accuracy, and multi-channel distribution create a logistical nightmare. This highlights the vital importance of streamlined product lifecycle management.

In this article, we explore how Unbxd PIM, as an AI-powered PLM software with intuitive product lifecycle management features, can help businesses drive efficiency and growth.

Lost time and resources: Inefficient processes drain your business

To manage product lifecycles, keeping product data consistent from initial onboarding to ongoing enrichment and syndication proves an uphill battle without the proper systems in place.

Diverse sources, manual processes, and disconnected tools often lead to:

• Error-ridden product listings and compliance issues
• Wasted time and resources on duplicate tasks
• Customer frustration from inaccurate or incomplete information
• Sluggish time-to-market for new product releases
• Lost sales opportunities and diminishing brand reputation

With product details scattered across the organization and no centralized hub, maintaining data quality on all platforms proved to be a Sisyphean effort.

How Unbxd PIM enhances your product lifecycle management

As an agile PIM solution, Unbxd PIM acts as the backbone of effective product lifecycle management. Here's how:

One hub for all product data

Gather product information from diverse sources (ERP, Supplier Portals, CRM, etc.). This eliminates data silos and inconsistencies that slow down PLM processes.

Workflows and task management

Streamlined workflows within the PIM enable smooth collaboration, task assignment, and progress tracking. This ensures that all design, development, and marketing changes are reflected accurately in your product data, promoting faster time to market.

Perfect your product data

The Unbxd PIM Readiness Report offers insights to improve the efficiency of your product data workflows. Quickly identify issues, receive actionable recommendations, and optimize your catalog for multi-channel success.

Track changes and fine-tune workflows

The Activity Log streamlines product lifecycle management by eliminating the need for manual change tracking. Quickly identify the source of errors, analyze update patterns, and improve workflows.

Enrichment at each stage

During concept development, the PIM can suggest AI-driven descriptions and metadata. Enriching features keep data accurate as the product matures, helping avoid errors and compliance issues that could derail the launch.

###Seamless distribution When your product is ready, the PIM's marketplace connectors and customizable export templates simplify distribution across sales channels. Consistent, optimized product data means faster listings and stronger customer engagement.

This way, Unbxd PIM empowers data organization, enrichment, and distribution, reducing friction and enhancing data-driven decision-making across the entire product lifecycle.

PLM that drives exponential growth

By centralizing product data management, retailers can experience game-changing results:

• Enhanced operational efficiency: Streamline processes and collaboration across teams.

-** Faster time-to-market**: Accelerate new product launches and respond quickly to market trends.

• Improved customer experience: Reduce product-related inquiries and provide accurate, consistent information.
• Increased sales and conversions: Optimize product listings and create compelling shopping experiences.
• Stronger brand presence: Deliver a cohesive brand message across all channels.

Final Note

Keeping pace with new-age modern commerce, full management of your product information lifecycle is not an option anymore.

To help you navigate this challenge, as an intelligent PLM software, Unbxd PIM offers centralized product data that will ensure streamlined operations, captivate your customers, and help your business grow exponentially.

Ready to experience the transformative power of centralized product lifecycle management?

Request a free demo of Unbxd PIM today!