The management of product master data is having a revolution. The excellent data quality standards ISO 22745 and ISO 8000 from the International Organization for Standardization (ISO) in Geneva, Switzerland, have changed everything.
In order to adapt organisations need to adopt a new mindset, new tools, new processes, and importantly, people need education and training. Getting this right will lead to significant productivity improvements and an array of other benefits that include: more accurate ordering and a reduction in purchase errors, less operational downtime hunting for the source of supply for spares, greater detail and consistency of product data on eCommerce web sites, shared product specifications throughout the supply chain, less exposure to fraud and counterfeiting through the use of authorized legal identifiers and many more.
Data cleaning is now dead, as is the use of noun-modifiers to define product specifications. Cataloguing at source is the new paradigm. The best entity to describe a product is the manufacturer who designs and builds it, and their product data should be used throughout the supply chain. Doing so means everyone in the supply chain can share the correct product data; load it into their ERP, eCommerce, and/or Punch-out systems; order the right parts from the right supplier at the right time; and cut out expensive, and often inaccurate, data cleaning work. It means purchasing errors are significantly reduced, or eliminated entirely, and the risk of downtime whilst spares are sourced minimized.
The charts below lays out the key success factors organisations need to implement in order to benefit fully . Find out more at www.koiosmasterdata.com