Our last post talked about the Operations issues that arise from poor Material Master data quality. Let’s take a look at purchasing and spend analysis impacts of poor data. Sourcing Sourcing projects and the make-versus-buy decision process in general require a view of what exists already in the approved
This is Part 2 of a 2 part blog post. Read Part 1 on A Guide to Measuring Data Quality for Purchased Product Master – Part 1 In my previous post I outlined some metrics for the purchased product / material master – both objective measures (like completeness, accuracy,
Chief Data Officers need to measure data quality – it’s the old adage- “that which cannot be measured cannot be managed.” Customer Data, Supplier Data, Chart of Accounts Data are all straight forward. Master Records should be unique, should be linked hierarchically, and should be complete enough to serve
There was a time when companies believed they were the kings in their own industry. Fewer brands, increase in demand and localization made companies earn great profits within a short span. As time passed by, the number of companies grew. Not just national level brands but also international companies
The Purchased Product master can envelope multiple master domains depending on a company’s core industry. For process manufacturers, petro chemical and Oil & Gas production sectors, purchased product masters contain the golden records for Maintenance, Repair and Operations items. For Distributors and even Retailers, the Purchased Product masters
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