Published April 21, 2016
Tompkins International’s newest white paper explains in a series of discussions the importance of developing a comprehensive strategy for managing part features that will help you navigate the ever changing retail environment.
Raleigh, NC April 21, 2016
Read Tompkins International’s newest white paper Top Tips for Product Naming Success written by M. Scott Moon, PMP, Principal, Tompkins International. Moon’s paper discusses the factors that should be considered in the naming of a product, put in context to the item master, and the many factors that should be considered in describing an item.
The series of discussions will help companies develop a comprehensive strategy for managing part features that will help navigate the ever changing retail environment. Like the early explorers, today’s retail world is always changing and to survive companies must have a strategy that is nimble, holistic, and able to change as needed.
“Branding is a key component of item creation and it helps setup customer loyalties that allow your products to stand out among your competitors. Done properly, it can be the vehicle that allows you to introduce your customer to other similar products for purchase. This brand loyalty can be incredibly powerful,” Moon.
The following key product naming issues are addressed in the paper: the manufacturer part number, the distributor part number, the retailer stock keeping unit number, the product description, and customer selection data management. Also, discussed is the importance of: naming basics, the manufacturer world, the retail world, an item master file, and the impacts created by omnichannel.
The lines between retailers, manufacturers, and distributors are blurring and data management regarding part information is critical. To succeed in today’s consumer driven environment companies need to be able to provide what the customer wants, when they want it, and at a competitive price. To learn more about designing a first class supply chain and to understand the newest supply chain transformations visit Tompkins International.
About Tompkins International:
A supply chain consulting and implementation firm that maximizes supply chain performance and value creation. We enable clients to be more profitable and valuable, while also becoming more agile, flexible, and adaptive to the marketplace. Tompkins collaborates with client teams to develop improved operations strategies, supply chain planning, and execution across all the Mega Processes of supply chains (PLAN-BUY-MAKE-MOVE-DISTRIBUTE-SELL). Tompkins is headquartered in Raleigh, NC and has offices throughout North America and in Europe and Asia. For more information, visit: www.tompkinsinc.com.