One of the questions facing manufacturers in 2023 is how will they be able to fuel smart, digital innovation with high-quality data to realise the full potential of the new technologies typically associated with digital transformation that they have heard so much about.
Digital transformation refers to the process of integrating digital technologies into various aspects of a business to improve operations and create new value for customers.
Such a transformation involves leveraging digital tools, such as Artificial Intelligence (AI), Machine Learning (ML), Augmented Reality (AR), the concept of a Digital Twin, big data analytics, cloud computing, and the Internet of Things (IoT), to automate processes, optimise operations, and enhance customer experience.
For large manufacturers, digital transformation can have a significant impact on various aspects of how their business operates.
Read more: CEOs should consider MDM to help address their top concerns for the next 10 years.
Here are a few benefits that large manufacturers can achieve from digital transformation:
Improved operational efficiency - by helping manufacturers automate processes and optimise operations, resulting in increased efficiency and reduced costs for the business.
Enhanced customer experience - by improving the customer experience through personalised products, faster delivery times, and better customer service.
Increased innovation for manufacturers that they can use to create new products and services, explore and expand into new markets, and differentiate themselves from the competition.
Improved supply chain management that will help manufacturers optimise their supply chain by improving visibility, reducing lead times, and reducing the risk of disruptions.
But, before many of these new exciting technologies can be implemented and find their way to the production floor and through-out the value chain, the manufacturer needs a solid master data foundation.
Manufacturers typically use an MDM tool such as Stibo STEP to centralise and manage their information with a single authoritative view in a structured and consistent manner, thus avoiding the costly inefficiencies caused by silos of data.
What is the maturity level of your data management? Do your own Data Maturity Self-Assessmment test.
STEP can also be leveraged by manufacturers to integrate information with other enterprise systems to unlock the value of their master data, such as Enterprise Resource Planning (ERP), Customer Relationship Management (CRM) and Content Management Systems (CMS).
As a foundation for digital transformation, having centralised data ensures manufacturers have the latest product information that can be easily distributed across multiple channels and systems to the various audiences and processes.
With a Stibo STEP MDM platform, manufacturers can capture and track data from its inception in the design or production processes all the way through to the data that is shared with customers and partners.
With customer expectations to be able to tap into information 24/7, manufacturers must be able to present up to date, consistent information for product research, reviews and evaluation. Having information available pre, during and post the purchasing process.
Read more: How to use Stibo STEP to unlock value in the CPG sector.
STEP is used to create and manage product, supplier, location, customer and asset information, establish business rules for data quality, and manage the workflows associated with creating and publishing product information.
All of this is done with the goal to improve operational efficiency, become faster, reducing the time-to-market, facilitating manufacturers in their efforts to build a digitally enriched assortment in their product range, and ultimately increase customer satisfaction and loyalty through a better experience.
What is Stibo?
Stibo Systems is a Danish company with a strong focus on innovation and continues to invest in R&D to develop new and improved solutions for its MDM customers, leading to better informed purchasing decisions by end-customers.
What is STEP?
STEP (Stibo Systems Enterprise Platform) is a comprehensive software solution for creating, consolidating, managing, and publishing accurate and consistent master data across an enterprise organisation.
With STEP, companies can take their products to market faster; become more customer focused; start earning revenue sooner from new products; streamline their processes; reduce supply chain costs; gain visibility by expanding operational reach, and ultimately, positively impact the bottom-line profitability.
Read more: Extend your business model with Stibo STEP.
What is Master Data Management (MDM)?
STEP and the set of processes and technologies of MDM provides the data quality and transparency necessary to manage critical business data. MDM enables a business to manage and maintain a single source of truth on information about their products, customers, suppliers, and other key entities.
By centralising and standardising their data through an MDM strategy, businesses can ensure that everyone is working with the same information across the organisation.
100% STEP focused
At Unit of Measure we have more than 20 years of experience in implementing STEP for large global enterprises with complex requirements. We are officially a Stibo Systems partner.
The Stibo STEP MDM platform can help manufacturers achieve their performance goals and at Unit of Measure we have the know-how and experience to successfully implement and develop STEP in your organisation.
We believe that focus is the key to excellence. We don't offer a range of various IT services or even support for other PIM/MDM applications. By having a single focus for the services we offer, we can serve our core customers best.
In other words, we are specialists in the software application STEP from Stibo Systems.
All our services revolve around helping organisations implement, refine and support this leading software solution for Master Data Management (MDM) and Product Information Management (PIM).
Based on our many years of STEP implementation experience, we have developed our own unique methodology for delivering successful implementations that meet or exceed project requirements and customer expectations - on time and within budget.
Book a free consultation with us and let’s explore how we can help you get your master data in shape and prepared for the changes that will be impacting manufacturers now in 2023 and beyond.
