Implement Supply Chain Master Data Management to reduce manual workload, technical issues. Best practices and much more.
The efficient management of master data in a central repository provides businesses a single authoritative view of information and eliminates expensive inefficiencies caused by data silos. This is why it is called that Master data management feeds your business with better data. Now, the question is why should we use Master Data Management in Supply Chain or what are the best practices to do so.
Well, to understand this fact, first of all, you need to understand both of the terms Supply chain and Master Data, which are elaborated in the subsequent section:
A supply chain consists of the entire network of entities linked directly or indirectly in serving the consumers or customers. It comprises various things, such as vendors that supply the material, producers who convert the content into products, and warehouses to store the products, distribution, centers, retailers, etc.
These factors ensure high asset utilization and end to end efficiency.
The productive supply chains that are in now have taken the basic models and added certain features to meet their specific needs. Unlike the efficient models, these models need human interaction, which makes the system prone to error as from outside, it is difficult to define which model to use.
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