How Master Data Management (MDM) Can Streamline Your Supply Chain Process and Improve Business Efficiency

1. How Master Data Management (MDM) Can Streamline Your Supply Chain Process and Improve Business Efficiency

2. About Cozentus Technologies • Cozentus is a complete business solutions provider transforming operational productivity and efficiency of businesses across Supply Chain Management and Financial Services. • Operating globally, we bring you the best domain-specific expertise combined with digital transformation capabilities so your business can thrive in today’s connected world. Our long-term partnerships and valued relationships provide the basis for fluid collaboration and an innovative solutions-orientated approach.

3. How Master Data Management Can Streamline Your Supply Chain Process & Improve Business Efficiency • Transaction processing systems and other customer facing applications are critical to corporate operations. The BI and analytics are increasingly driving customer interaction, supply chain management (SCM), and other business activities by mostly relying on the data gathered from these systems. • The single perspective also called golden record provided by master data management systems, consolidates data from numerous source systems into a single mapping record with all the latest available information . MDM harmonizes client data to establish a consistent set of master data for usage in all relevant systems. 

4. What Advantages Does It Provide For The Supply Chain? • Master Data Management is the centralized and uniform management of a company's fundamental data assets, such as customer and product information. It contributes to the accuracy and timeliness of these assets across all systems and departments. • It makes it easy for business to effectively run campaigns, reward customers, attend to issues in timely manner, give offers and get a consolidated view of overall customer operations.

5. Increased data correctness and completeness: Supply chain professionals can make more informed choices and lower the chance of mistakes when they have accurate and complete data. MDM may assist in simplifying operations and minimize the time and resources spent on data management duties, resulting in increased operational efficiency. • Better customer experience: Companies might improve customers' overall experiences via timely and accurate delivery of products. MDM may assist firms in complying with legislation and industry standards by ensuring that data is correct and current.

6. Few Crucial Aspects To Bear In Mind While Implementing MDM In The Supply Chain • Determine the master data domains: The essential data assets to run your supply chain include product and supplier information. • Define data governance and procedures: Defining protocols for managing and maintaining your master data is critical. Deduplication, validation, and standardization is all part of this. • Identifying right MDM solution: Since several MDM solutions are on the market and some are domain specific, there are tools which provide MDM as a service, it is essential to research and choose the one that best meets your objectives and budge

7. Communicate and train: It is critical to explain your MDM aims and objectives to all key stakeholders and give the training to ensure that everyone understands and adheres to the established procedures • It's important to note that although MDM has various advantages, it has its drawbacks. Establishing an efficient MDM program requires significant time, resources, and effort. • Cozentussupports SCM businesses by providing overall data solutions including data warehousing, business intelligence, master data management, data analytics including predictive solution based on historical data.

8. Contact Us Address Contact Details Odisha SRB Tower, 5th and 6th Floor, Infocity, Bhubaneswar -751024, Odisha, India Contact No: +91 977 712 6600 (India) Email: supplychain@cozentus.com Website: https://www.cozentus.com/