IDEA revealed the concept behind a new professional service currently in development, the B2B Partnership Rating Program, at the NAED Leadership Summit last week. View sample scorecards and examine the potential benefits.
Sample scorecards: Green = Field Populated, Yellow = Populated with Soft Errors, Red = Populated with Hard Errors. The manufacturer on the right has high quality data in the IDW whereas the one on the left has much room for improvement.
KEY PRP BENEFITS:
- Eliminate inefficiencies by identifying trading partner data requirements upfront
- Evaluate trading partner processes and identify cost-cutting improvements
- Benchmark your company’s eCommerce standards compliance against
- Increase profits by maximizing the industry-approved IDW Data Synchronization Platform
- Measure Business Solution Providers compliance with data standards and best practices
- Calculate your potential ROI using a tool that is based on real case histories
END RESULT: Use business intelligence gained from participating in the PRP to prioritize data quality initiatives and make improvements that will drive costs out of your supply chain.
CALCULATE YOUR ROI: IDEA and NEMA completed a six month study in 2002 that illustrated manufacturers can generate an additional $97,000 and distributors can generate an additional $73,000 in profits for every $10 million in sales after synchronizing their product and price information through the Industry Data Warehouse (IDW) – an average 1.7% profit margin! While this study was commissioned several years ago, it was recently verified and adopted by other industries. And given the vast technology enhancements since then, the ROI is without a doubt even greater today.
After all, what good is data and data synchronization if you are using bad data?
NOT JUST A TOOL: IDEA will aggregate the results from the PRP and provide participating manufacturers and distributors with a roadmap to establish a consistent, long-term plan for cutting costs through the adoption of industry-approved eCommerce standards, high-quality data and best practices throughout their business and supply chain.
TAKE ACTION: IDEA will provide more education on the PRP service over the next few months, with an expected release to the industry in Q3 2012. If you are interested in learning more about this new service, want to provide feedback during its final stage of development, and/or want to be one of the first companies to leverage it, we want to hear from you! Please contact Mary Shaw, Standards Director, IDEA at firstname.lastname@example.org.