At the heart of data management is the commercial data which turns products into merchandise and which must be provided by the parts manufacturer. This includes article numbers, minimum order quantities, list prices, early payment discounts, reductions, pallet sizes, etc. The faster and easier the process of providing this information, the higher the probability that an order will result.
These master data can also be used for gap and competitive analyses. Moreover, they permit projections concerning which products are needed in which quantities in which markets or which stage they are at in the product life cycle. Software-based solutions are also available for product information management.