Integrating product data carries a tremendous value, but cleanly integrating that data across multiple applications, data stores, countries and businesses can be as elusive a goal as catching the famed Looney Tunes character.
So why do it?
As a report from Automotive Aftermarket Industry Association pointed out, assuming $100 billion in transactions between suppliers and direct customer in the aftermarket each year, the shared savings potential tops $1.7 billion annually by eliminating product data errors in the supply chain. That’s just potential savings in one industry, in one year.
Note to self: The 1.7% savings on transaction errors requires a flexible and accurate mapping form one party’s information system to another. Something topic maps excel at.
You know what they say, a few $billion here, a few $billion there, and pretty soon you are talking about real money.