Fulltilt Survey: Consumer Goods Companies Struggle with Product Information Management
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Wayne, PA. - November 1, 2006 - FullTilt Solutions Inc., a leading provider of enterprise Product Information Management (PIM) solutions, today released its survey of top consumer packaged goods' executives who are involved in various aspects of supply chain initiatives at their companies.
The results showed that 100% of survey participants believe that the quality and consistency of product information is a serious problem for their organization. There was also unanimous agreement that the lack of product information management leads to an increase in stock-outs, inventory on-hand and other supply chain inefficiencies.
Some other key findings from the survey:
o More than two-thirds (68%) reported that data quality is "mission critical" and an additional 16% say they are "very concerned" about the impact of data quality on business analytics.
o More than half (56%) reported that their product information is not integrated with supply chain partners and they need to do more. Only 28% report being fully integrated.
o 56% also reported that their product information is in disparate application databases or multiple enterprise databases.
o And while 40% are developing a strategy to address the issue of product information management, almost a third (32%) are NOT looking to address the problem at this time.
"The consensus in these results proves that product information management is a big problem for consumer goods companies," stated Tim Wallace, CEO of FullTilt Solutions. "These executives identified key metrics such as delays in new product introductions, invoice errors, excess inventory and higher stock-out rates as a result of not having a product information management solution."
The survey also showed that more than half of the companies (52%) are not compliant with retailer mandates of synchronizing all product information with their trading partners.
For a detailed report of the survey or to learn more about FullTilt Solutions visit www.FullTilt.com
About FullTilt Solutions
FullTilt Solutions, Wayne, Pa., is a leading provider of enterprise Product Information Management (PIM) solutions. FullTilt focuses on providing solutions for the Consumer Packaged Goods, Retail, Electronics, MRO and Life Sciences industries. FullTilt's flagship product, Perfect Product Suitetm, automates, manages and optimizes the business processes required for the complete and accurate internal and external data synchronization necessary for perfect Internet enabled commerce. FullTilt provides product centric Master Data Management (MDM) for all vital product related attributes and relationships throughout the enterprise and for all trading partners. FullTilt provides data synchronization to GDSN certified data pools including 1SYNC and Agentrics. Founded in 1987, FullTilt has been implementing enterprise PIM solutions since 2001 at leading organizations such as: McCain Foods, Premier, Inc., BDI, Watts Water Technologies, Brady Corporation, Hagemeyer, Mouser Electronics and Thomas & Betts. Further information about FullTilt Solutions and its products is available at www.fulltilt.com
