I was remiss in the beginning of the year in putting down our observations of the latest in material master trends. It is not that we have been particularly distracted – simply that the manufacturing and natural resources markets have been dynamic to say the least. How to seriously
Leveraging Item or Material masters in Procurement is certainly not new. As a standing best practice, there are simply different approaches that Procurement has taken. Creating a central repository in the ERP/MR for direct and production related indirect material has been implemented for years in most discrete and process manufacturing
Senior Procurement professionals ask us about the real and measurable value of material master data management to their organizations. My answers are as varied as the companies we talk to, but there are a few common criteria that indicate both how much value there is, and how best to realize
Before proceeding with the answer to this million dollar question, we need to first know what ERP means to a business. This is because the concept of ERP – Enterprise Resource Planning differs from project to project. Some companies consider ERP as a business application strategy – one that merges
Monetizing good Master Data Management practices can be challenging. We all look at the operational efficiencies, improved reporting and analysis, turning data into actionable information, and seeing the forest as well as the trees. Don’t get me wrong – All good stuff. But the CFOs out there are looking for
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