June 8, 2021
Data already plays an enormous role in supply chain planning and management. However, to increase resiliency, anticipate disruptions, and develop strategies for quick recovery, organizations need better data quality, consistency, and completeness.
If organizations had only one business application, managing master data might not be difficult. However, when most organizations try to get a single, complete view of data about customers, products, business partners, or other entities of interest, they find that the data, including master data, is scattered across islands of applications, databases, and spreadsheets.
Supply chains are often highly complex, with thousands of products and suppliers. In an environment where changes are happening fast, organizations need easier access to integrated and trusted data about all aspects of supply chains.
Master data management (MDM) technologies and practices help organizations address problems such as poor data quality, duplicate data, and governance exposures faster and more effectively. MDM systems offer a central place to store master data and record changes automatically, which is especially valuable for organizations with applications and systems distributed around the world.
This checklist offers six key steps for developing a multidomain MDM strategy to improve supply chain resilience.