PIM meaning in Business ?

Answer: What is Product Information Management mean?

Product information management (PIM) is the process of managing all the information required to market and sell products through distribution channels. This product data is created by an internal organization to support a multichannel marketing strategy. A central hub of product data can be used to distribute information to sales channels such as e-commerce websites, print catalogs, marketplaces such as Amazon and Google Shopping, social media platforms like Instagram and electronic data feeds to trading partners.

PIM solutions are most relevant to business-to-consumer (B2C) and business-to-business (B2B) firms that sell products through a variety of sales channels in a range of industries. The use of PIM is generally influenced by a company's:

wide array of products and/or complex product data setfrequently changing product characteristicsincreasing number of sales channelsnon-uniform IT infrastructure (plethora of data sources and formats)online business and electronic orderingvarious locales and localization requirements

PIM systems manage customer-facing product data needed to support multiple geographic locations, multi-lingual data, and maintenance and modification of product information within a centralized catalog. Product information kept by a business can be scattered throughout departments and held by employees or systems, instead of being available centrally; data may be saved in various formats, or only be available in hard copy form. Information may be needed for detailed product descriptions with prices, or calculating freight costs. PIM represents a solution for centralized, media-independent product data maintenance, as well as efficient data collection, enrichment, data governance and output.

reference

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