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Now Available: Oracle Product Information Management for Retail

Oracle in January announced the availability of Oracle Product Information Management for Retail, a pioneering master data management application that provides a single, enterprise view of all product information—including supplier and store location data.

A number of forces are making product information management increasingly complex, from the rising rate of new product introductions to the proliferation of divisions, departments, sales channels, and trading partners due to both consolidation and globalization.

At the same time, retailers are relying more and more on business applications that demand accurate data.

Within a given season, some 60 percent of the products on retail shelves are new. Yet on average 20 percent of those products have missing or incorrectly duplicated product information.

Besides providing a single repository, Oracle Product Information Management delivers tools to cleanse and enrich information, not only to ensure its accuracy, but also so it can be shared more easily with trading partners.

Key features of Oracle Product Information Management include: out-of-the-box support for Enterprise Product Record, unstructured data management capabilities, support for alternate hierarchies, exception-based item induction and change workflow, inbound support for Global Data Synchronization, and UI-based extensibility for the entire system.

Accelerate Speed to Market, Automate Collaboration
For retailers, to be first to offer new products is a key competitive differentiator.

"But to make that happen flawlessly, retailers require accurate product information from the start," says Gladys Lau, senior director, Oracle Retail. "Oracle Product Information Management makes that happen."

"By keeping master data accurate while allowing for flexible sharing, retailers can also automate collaboration with trading partners—a key aspect of rapid new product introductions," adds Lau.

Get more information on Oracle Product Information Management.

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