What Is ANSI?
ANSI stands for Application for New Stock Item and it is a process that can be used by organisations to make sure that all necessary and relevant data surrounding a product is there.
This can include,but is not limited to:
-Product properties (Name,code,group and unit of measure)
-Product Features (Brand and description)
-Product barcodes (For example, EAN or UPC)
-Inventory of product ( Shelf life,expiry date and warranty)
-Automatic recording ( Check in location, reorder level and reorder quantity)
-Serial numbers
-Batch number
-Variants
-Supplier details
-Sales details
Having an ANSI process in place allows your business to be more efficient as it reduces the issues caused by incomplete product data.
What Is Incomplete Product Data ?
Complete product data is everything a company needs to sell, market, and distribute its products. It includes information about the product itself—the model number, colour, size, weight, and cost—as well as information about the customer: age range, gender preferences, income bracket, and so on.
Complete product data helps companies do business in an efficient way by providing them with all the relevant information they need to sell their products. When this data is incomplete or inaccurate, however, it can cause a whole slew of problems for companies attempting to do business.
Having incomplete product data can be a problem in a variety of ways, from making it difficult to track inventory or calculate accurate shipping costs to not being able to offer an accurate description of what you’re selling.
For example,If you don’t know how much stock you have and where it’s located, your employees will waste time looking for things that aren’t there or that have already been sold. If you can’t tell your customers exactly what they’re getting, they may be unhappy with their purchases when they get them and this may damage your reputation .
Finally, incomplete product data can make it hard for companies to make good decisions about pricing and promotions. When you don’t know what your customers want or how much stock you have available, it’s hard to know how much discounting would make sense or how many units you should order in advance of a sale event.
To Conclude
Using ANSI processes in place as well as master data management will help you reduce the number of issues associated with incomplete data as all the necessary information will be checked for as you receive the item or product. This will help make your business more efficient and help reduce costs. It will also prevent new dirty data from effecting your organisation as efforts are in place to prevent it entering in the first place. Most dirty data is caused by inputs and using ANSI processes takes away that possibility.
To find out more about the ANSI standards visit our website.