Bad vs Good Master Data
Poor Quality Master Data
The point of entry for all master product data which is the business critical reference data for all transactions has always been a manual process and is prone to human errors like typos, omissions, abbreviated names, mis-fielded or grouped together attributes, inconsistent and duplicate product listings. This poor master data provides only limited usability leading to maverick spends, cost overruns, ordering & production errors and most importantly compliance risks threatening operational excellence and business growth.
Quality Master Data - Business Benefits
- Intelligent purchases with accurate spend analysis
- Compliance to all regulations
- Minimized transactional discrepancies
- Procurement, Inventory rationalization & optimization
- Identified potential duplicates & substitutable material
- Better WMS control with unique material descriptions
- Single version of master data for omnichannel use
- More accurate and complete BoMs
- BI reports with reduced effort & cost of Data Analytics
