Our last post explained how to quantify the value of improving your Material Master data by reducing stock-outs related downtime. Today’s post will help you estimate improved materials-related personnel productivity. Improved materials-related personnel productivity: Total number of man hours = Total number of engineers * 1600 Total number
In our previous post, we provided a calculator to help you estimate the value of improving your Material Master data by avoiding inventory cost. Today’s post features an ROI Calculator to help you plug in your numbers and estimate inventory holding cost reduction. Inventory holding cost reduction:
Our last few posts talked about Operations and Procurement issues that arise from poor Material Master Data quality. Funding a quality improvement project is never easy. Let’s look at some ways in which Material Master Data quality improvement can reduce the costs of an ERP or EAM implementation. In our
Master Data Governance for Materials is unique. The workflow is more multi-domain than any other master data object, the timelines for completion are tight, and the need for accuracy is dire. We’ve included two charts below from an earlier survey which outline the make-up of Material Master Data Governance
Data Governance is a process-based structure that leverages an Approval Workflow system. The effectiveness and efficiency of the Data Governance Model depends on some critical factors. So, what supporting factors come into play in practical Data Governance deployments? We underscore ‘practical’ since our perspective on Data Governance is that it
We recently hosted a webinar, ‘Business Benefits of Material Master Data Management’, presented by George Pasti (Regional Manager, Verdantis). It was followed by an interactive Q&A session with the attendees. For those of you who missed it, here’s a quick rundown. The webinar started off by examining the various
We started off the year with a deep dive into material master data quality and what the phrase signifies. While getting material data to an acceptable level of quality is essential, material master data management consists of another, equally important part – data governance. What is Data Governance?
Utilities face many challenges with their business and operations. In a highly asset intensive industry with a geographically disparate asset base, implementing operational and maintenance standards and practices is necessary to continually improve the balance between asset reliability and costs. They require uninterrupted supply of adequate and cost-effective materials
The first 4 installments of our Blog series addressed root-cause MRO management failures: Problems due to Workflows, Unconstrained access to MRO data, and the like. Let us look at some common obstacles that must be navigated due to perceived exigencies of business. Rush MRO Orders – When a
As the year draws to a close, we look back at our greatest hits of 2015. We started off the year by bringing ‘Big Data’ into the MDM mix and followed it up with some great tips on Data Quality for enterprises. Our three-parter on the oil and gas industry
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