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
Often overlooked, providing efficient access to, and maintaining the accuracy of, the material master is pivotal to operational success and protecting your data investment. Data Governance has emerged as the point of convergence for people, technology, and process to manage the crucial data (information) of an enterprise. This is a
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
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
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
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