Goals & Best Practices for Effective Product Inventory Management

Published: December 20, 2017

Send Fiber Optic Center an email to ask a question

Product Inventory Management and a quick snapshot….

Product management, systems and best practices are topics that marketing managers discuss and compare notes on.

Here is a quick snapshot on our plans and the specifics behind them.

At the core of FOC’s business is productivity, determined by how efficient and organized we make the functions within our company.

We are committed to offering our customers complete information, technical solutions and the best user experience possible.

Under our product responsibilities, we have a process for PIM (Product Information Management) and PCD (Product Communication Development).

PIM (Product Information Management) includes product-specific data (product descriptions, images, datasheets, literature, videos, etc.)
PCD (Product Communication Development) includes the technical solutions articulated by our experts through customer questions and answers, video demonstrations, blogs and articles.

Our management system encompasses the PIM and PCD processes and practices. A lot of acronyms but what are we doing / how are we doing it are the real questions, right? Well, one of our very exciting initiatives includes a new Product Inventory Management – the actual software tool – also known as PIM. It is our single source for product data that will simplify and automate the syncing process on all platforms. The advantage of using a PIM system is effective multi-channel marketing. You can hear my excitement inserted here?

The new PIM will automate product information updates and correct errors by synchronizing all channels. This will be substantial time savings for our product management team.

The FOC Cooperative Marketing Program will benefit from the improved organization of all the product content in the catalog, mobile apps, websites and social media. Consistent and enhanced product data (pictures, descriptions, categories, related content, etc.) is very exciting.

We have road-mapped strategic, marketing, internal operations and e-commerce goals.

Strategic Goals

Improve Customer Experience
- Our customers are overworked and stressed like most in the workforce so it is our job to make business with us as efficient, seamless and pleasant as we can. In addition to the new website rollouts this year, the cycle of listening and responding to our customer’s evolving needs will continue and roadmap further opportunities to build fluid solutions.

Improve Internal Efficiency
- FOC is dedicated to providing our staff with the support mechanisms that allow them to master their work. Improved systems and processes enable development and success.

Marketing Goals

Develop Strategic Branding/Perception
- more attractive brand image
- consistency among images, videos and product descriptions in the various channels used by the company

Manage Accuracy/Quality
- Immediately verify discrepancies and omissions in our online store for solutions
Improve effectiveness/user experience
Increase online speed
Create faster, simplified updates

Internal Operations Goals

Avoid task repetition
Single location access for all information
Create faster, simplified updates

e-commerce Goals

Business growth to handle increased volumes through PIM
Complex multi-channel marketing mix
Personal, seamless and confident online shopping experiences

The new FOC PIM will ensure that all information and product content is in order, updated and without error to improve online search engine functions, traffic and sales conversion.

Additional resources from the FOC team include:

View the Glossary, Acronyms, Military Specifications for Connectors
Q&A Resource: email technical questions to AskFOC@focenter.com

Here are the links to this full Marketing Blog Series:

Follow:@FiberOpticCntr

About the Author

Kathleen Skelton Kathleen Skelton, Director of Strategic Marketing, has worked in the fiber optic, cable and connector industries for over three decades. Her core competencies in fiber optics include technologies that enable the growth, integration and performance scalability of voice, data and video communications networks and services, having worked with a majority of the strategy managers in the industry during her tenure with Lightwave. Kathleen’s marketing expertise resides in business development, strategic and digital best practices and content management. Kathleen resides outside of Boston, MA with her family. Follow @KATHLEENSKELTON

About Fiber Optic Center, Inc.

Fiber Optic Center, Inc., (FOC), is an international leader in distributing fiber optic components, equipment and supplies and has been helping customers make the best cable assemblies in the world for over two decades. Several areas of specialization and expertise, in which they are the industry leader, make them the preferred choice for many of the world’s fiber professionals. In these key technology areas, FOC is "at least as technical as the manufacturer" about the products they sell. Striving to "make the business part easy," they offer outstanding and personal customer service, low or no minimum purchase order values, and from-stock delivery on industry-leading products and technology. FOC is the industry connection to the most innovative optical products, technologies and technical experts who integrate their manufacturing knowledge and vast experience into customers' worldwide operations. @FiberOpticCntr

For further information contact:

Fiber Optic Center, Inc., 23 Centre Street, New Bedford, MA 02740-6322
Toll Free in US: 800-IS-FIBER or 800-473-4237 . Direct 508-992-6464. Email: sales@focenter.com or fiberopticcenter@focenter.com

For media contact:

Kathleen Skelton, Director of Strategic Marketing, C: 617-803-3014 . E: kskelton@focenter.com

Copyright Notice: Copyrights in all articles published on focenter.com are owned by Fiber Optic Center, Inc. (FOC) or other individuals or entities. No content on focenter.com may be reproduced, stored in a retrieval system, or transmitted in any form of by any means, electronic, mechanical, photocopying, recording, or otherwise, in whole or in part, without the prior written permission of Fiber Optic Center, Inc.