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From Database to Shop Floor: The Impact of Material Master Data Management
Aberdeen Group, May 2011, Pages: 13
Every part number, description and stocking code for every item an enterprise procures, produces, and inventories – it all adds up quickly. Without proper management, this master material data can quickly turn into a roadblock to productivity, resulting in hours of fruitless searching, bloated inventory levels and inefficient ordering from suppliers.
Aberdeen's examination of just those organizations that extensively use material master data – primarily those in manufacturing, consumer goods and distribution – shows that judicious management of these records can provide tangible benefits, including reduced inventory costs and faster time to market for new products.
For the purposes of this report:
Material master data refers to critical data elements, such as part numbers, descriptions and stocking codes for all materials that an enterprise procures, produces and keeps in stock.
Master Data Management (MDM) refers to a formal initiative to improve and maintain the quality of master data, usually involving specific technology solutions as well as policy and process changes.
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