The phrase ‘Purchased Parts Master Data’ might not be as well-known and as frequently talked about as customer master and vendor master data but its importance is being recognized by organizations across the globe. An efficient master data management system for a company’s purchased parts can have a measurable impact on its maintenance and operational costs.
Plant management teams across global organizations are constantly faced with the challenge of ensuring a consistent flow of goods and optimal functioning of production operations, an efficient supply-demand balance and maintaining a cost-effective yet optimum throughput. They are constantly dogged with business risks such as drastic equipment failures, expensive plant down times, supplier disruption, environmental or compliance issues and safety hazards.
Easy access to clean and accurate master data has empowered end-users in mature organizations with better decision making in day to day activities, making employees more productive and responsive to corporate challenges. It has enabled a higher rate of target achievement in shorter timelines thus creating a robust business life cycle, increasing profitability from all assets, improving ease of work, minimizing error and improving collaboration among business users across cross functional divisions. This has contributed to a superior competitive advantage in today's information age. Read this white paper to learn how MDM can help business users scale up their KPIs.
Data sub-systems are typically designed to support specific line of business processes.However, as more organizations begin to employ enterprise-wide tools to support cross-functional processes, what were tolerable data variations and discrepancies, wreak havoc on success KPIs. This has shifted much significance to one key factor, the foundation for all IT systems – master data and master data quality. Read this whitepaper to know more about greater procurement and supply chain effectiveness by managing the material master data
This E-book will provide you with an in depth view of MDM and key related factors that you should be aware of to support a successful MDM initiative. It will also explore the role of stakeholders and discuss best practices, ending with a brief about key masters and ancillary masters.
Per a recent survey it has been found that 75-80 % of ERP projects failed to generate the desired ROI. For the promised benefits of ERP deployment like better decisions, reduced costs and increased performance to translate into tangible dollar savings, these initiatives need to be supported well by other success factors. Prime among these is master data management (MDM).
MRO assets form the crux of the indirect supply chain and play a vital role in the production and maintenance lifecycles. Maintenance is one of the core functions of every asset intensive industry and as assets become increasingly complex and the dependency on them increases, it is increasingly important for organizations to have a strong hold over their maintenance processes and run an efficient, continuous manufacturing or service operation environment sustained by an event-less supply chain. It has largely evolved from being reactive and corrective to planned and preventive.
The million dollar question that rules every ERP Implementation, Up-gradation or Consolidation project is whether to worry about a Master Data Management solution or not? After all, isn’t a brand new multi-million dollar ERP system supposed to take care of all your problems anyway?
The global business ecosystem operates in a complex data web, which, if not threaded expertly impedes business excellence. IT, ERP and business champions all over the world are increasingly turning towards Master Data Management to effectively manage data to achieve optimum business results. Clean and business ready data is one of the critical success factors that lead to the difference between procurement and supply chain functions that are world leaders and others.
"The 4-undying reasons to take care of during an ERP Data Migration"
Why handling of the key masters during migrations is the key to unlocking the ROI from an SAP investment?
Adopting the Best Practices for Ongoing Data Management
Master data management (MDM) has emerged as an important aspect of all ERP implementation or consolidation exercises. With ever evolving and increasing inventory, supplier, product and customer databases, it has become essential to cleanse and maintain the quality of the master data. More and more global enterprises across various industries have undertaken or plan to commence an MDM initiative in tandem with their ERP projects.
A 14-page white paper by Verdantis on how to achieve lower material costs and optimized inventory using Material Master Data Management
Master data is the core reference data that describes the fundamental dimensions of business—customer, material, vendor, chart of accounts etc.