The BMF (Builders Merchants Federation) and NMBS (National Merchant Buying Society) have formed a strategic partnership to launch an Industry Data Pool which will “revolutionise product data exchange in the building materials sector.”
The Industry Data Pool will provide an industry-owned resource containing high-quality, e-commerce-friendly information on hundreds of thousands of products, with the groundbreaking initiative creating a centralised, digital platform for seamless product data exchange.
The initiative will deliver a range of benefits, including:
Centralised product data management for improved accuracy, consistency and accessibility
Enhanced supply chain efficiency through seamless data exchange
Increased regulatory compliance and transparency
The joint venture will be managed by Building Materials Digital Services Ltd, a non-profit entity equally owned by the BMF and NMBS.
The structure provides an immediate opportunity for merchants, buying groups and software providers to invest in the company’s success as shareholders, helping to create a product data pool by the industry, for the industry. Other key financial elements of the project include a tiered subscription model for manufacturers and suppliers.
Gareth Thomas has been appointed as Managing Director of the start-up business. Gareth has extensive experience in data management and business change and previously spearheaded the UK launch of the product data management data pool solution at EZ-base.
John Newcomb, BMF CEO, said: “We are excited about the potential of the Industry Data Pool to transform our sector. This collaborative, scalable platform will not only improve product data integrity but also drive overall industry efficiency.
“It is a major step forward in the drive to achieve consistent, digitised product data throughout the building materials supply chain, which the BMF has been working towards through our support and promotion of the ETIM standard and the introduction of BMF Product Data Templates.”
Chris Hayward, NMBS CEO, said: “The Industry Data Pool represents a significant advancement in how we manage data and interact as an industry. A digital solution is key, and by working together, we can leverage our combined expertise to deliver a solution that meets the needs of all parties involved.”
The BMF and NMBS will be reaching out to key industry stakeholders in the coming weeks. Organisations who would like to find out more about making a strategic investment in this exciting new venture should contact John Newcomb or Chris Hayward.
