Improving data visibility during ERP – 3
In our previous blog post, we talked about the impact of lack of data visibility during an ERP implementation. Today, we will discuss how an MMDM solution helps drive greater benefits from an ERP project.
Let us explore why MMDM should be a part of the ERP blueprint:
- Clean data: Master Data Cleansing should be planned at the beginning of the project. Third-party expertise with deep domain skills and capabilities in providing automation will clean and improve existing or incomplete data.
- Quicker implementation: An MDM initiative combined with AI-based technology and deep domain expertise makes ERP implementation quicker by minimizing the setup time. Also, reliable data accelerates testing and go live.
- Eliminate redundancy: With standardized, de-duplicated, accurate, and enriched master data, bringing about a synergy among all the applications, including legacy and proprietary systems, provides better visibility to the enterprise. This helps identify and remove redundant orders.
- Inventory rationalization: MDM prevents data duplication at source, ensures a robust workflow process, and validates and enriches master data on a real-time basis, enabling enterprise to rationalize inventory optimally.
- Ongoing savings: Effective and stringent data governance frameworks and approval workflows ensure master data integrity, improve procurement process times, and mitigate risks of supply chain disruption, thereby bringing huge ongoing savings to enterprises.
Please feel free to comment below and ask any questions you may have about MDM. We will be happy to address them. You can also send in your queries at firstname.lastname@example.org.
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- Benefits of Material Master Data Management-Part 4 - March 1, 2018