Product taxonomy has evolved over the years from being a way to search and find information on a website to establishing an innovative e-commerce experience and competitive advantage. Retailers have invested great resources to create ideal user experiences and present the appropriate content and products to the right users at the right time. Information users see is matched with their past purchase history, wants and needs, location and behavioral data.
Manufacturers and distributors must also provide a good customer experience, and offer products and services that match their customers’ needs. Whether it is B2C or B2B, the ability to easily answer customer questions is key to success. In the retail space, there is typically a large amount of products, but a limited number of questions that B2C buyers have about those products. Industrial products adds more complexity because each product can have thousands of uses or applications. Many B2B products exist in combination with systems, components, and engineering designs that can be used in combination with other products and solutions, which presents more questions and challenges for the buyer.
While ERP only started picking up speed in 1995, its importance is growing. Selecting the right ERP for a business is a task that takes time, resources and a gut check for a company about what makes them unique.
An ideal ERP is one that was selected for the right reasons, designed with purpose and implemented on time and on budget, and then also allowed for quick benefits realization. That would be the first stages of an ideal ERP and then also one that could scale and adapt with an organization's changing needs.Read More