Material Master Data Governance – Keeping it clean
Data Governance represents the symbiotic existence of IT and business–aligned to improve the overall business process. It unifies the compartmentalized information across various departments in an organization to boost data sharing by all concerned. The information sharing results in advantages such as:
• Revenue growth
• Cost rationalization
• Inventory optimization
• Visibility enhancement
• Greater process compliance
Moreover, as information has become one of the most crucial factors for an enterprise’s growth, data governance becomes essential to manage the quality of data.
Mergers and Acquisitions, Globalization, Omni Channel infrastructures—all contribute to the challenge of rapidly growing, highly distributed, data demand as well as data supply!
These developments contribute to the ocean of data in today’s Global 2000 enterprise. Some of the common hurdles faced by these organizations include:
• Plants in multiple locations
• Multiple legacy systems
• Multiple user groups across locations
• Multiple taxonomies across plants
• Huge data size for material, vendor, product, etc.
• Data in multiple languages
Syndication and governance of data quickly become intertwined. Both the control of new data and adherence to standards for data modification are accomplished through Master Data Governance.
Let’s look at the Data Governance Support Model in more detail in our next post.
For any questions on Master Data Management, please feel free to contact us at firstname.lastname@example.org.
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