White Paper: Managing Material Master Data For Enhancing Procurement Efficiency

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 DDSN (Demand Driven Supply Network) Approach to Master Data Management (according to a research by AMR) has led to 20% more perfect orders, reduced Inventory Holding period, reduced Accounts Receivable period (62-92 days), etc. However, given the complex data web that DDSN operates in, tackling MDM issues such as inconsistent product information, data hierarchy, harmonization of material information etc. becomes a strong determinant in achieving optimal business efficiency.

Read this whitepaper to know more about greater procurement and supply chain effectiveness by managing the material master data and

  • Economic benefits from DDSN approach and associated MDM issues.
  • MDM framework supported by effective data governance and data stewardship
  • Impact of MDM on the three action areas of procurement: Availability, Cost and Liability which leads to procurement efficiency.
  • Impact of MDM on New Product Introduction.
  • 4C's of MDM

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