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Material Master Data – Taxonomy 101

By |2019-07-16T17:17:57+00:00February 22nd, 2019|Quick Reads|

Carl Linnaeus, a Swedish botanist, first published his book Systema Naturae in 1735 in which he described his classification of the biological kingdom. For his renowned efforts, Linnaeus became known as the father of modern taxonomy, classifying living things into smaller and smaller sub-categories to give organisms a specific name as well as a group in which to belong.Methods employed by Biology students to remember the exact order in which this would occur, (Domain, Kingdom, Phylum/Sub-Phylum, Class, Order, Family, Genus, Species) were mnemonic devices—purely nonsense sentences that kept the precise order of the naming system memorable. The online dictionary Wikipedia [...]

Master Data Management & Master Data Governance

By |2019-07-16T17:16:47+00:00February 18th, 2019|Quick Reads|

In the burgeoning world of Big Data, Master Data Management and Master Data Governance are two areas of critical concern to businesses. Big Data is the term used to describe the large volume of data—both in structured and unstructured format—that daily engulfs a business. Unquestionably, those businesses that achieve a high degree of accuracy in master data are far ahead of the game in providing stability and accuracy for both their internal and external customers. But, what’s the difference between the two practices, which are sometimes used (perhaps erroneously) rather interchangeably? According to the online dictionary Wikipedia, “In business, Master [...]


By |2019-07-16T17:15:57+00:00February 8th, 2019|Quick Reads|

More than thirty-five years ago purchasing analyst Peter Kraljic created what is called the Kraljic Matrix, a portfolio purchasing model for companies based on a two by two matrix of risk versus profitability: (Harvard Business Review, September 1983)*Leverage items= High Profit/Low Supply Risk*Non-Critical Items=Low Profit/Low Supply Risk*Strategic items=High Profit/High Supply Risk*Bottleneck items=Low Profit/High Supply RiskKraljic defined risk as the probability for an unforeseen event to disrupt supply chain viability; profitability as the impact of a supply item upon the bottom line. Moreover, he observed that purchasing practices historically had been largely a function based on routine, a practice that was [...]

Does Your Company Have a Good Data Strategy?

By |2019-07-16T17:11:58+00:00January 18th, 2019|Quick Reads|

The word strategy, is translated from Greek as στρατηγία stratēgia, "art of troop leader; office of general, command, generalship," and indicates a high level plan to achieve one or more goals under conditions of uncertainty. So, what’s your strategy for managing company data?For sure, a company’s material masters could exist in an uncertain environment that requires both planning and maintenance to keep data consistent, clean and reliable.More and more big companies are investing in big data and reaping the rewards and insights that successful management of it brings. However, there is a hidden threat that can cause multiple issues, including wasteful [...]

Implications of Failing to Create Good Material Masters

By |2019-07-16T17:09:44+00:00January 4th, 2019|Quick Reads|

Is your company struggling with duplicate purchases, increased purchase order costs, limited spend capability, or perhaps grappling with the impaired ability to locate inventory items?If so, you may be unaware that many of these issues stem from bad data almost invisibly embedded in your material masters. What’s worse, as time goes by the problem only increases in both scope and size unless something is done to restore your material masters to unspoiled condition.Fortunately, with help from QuadraDot’s Granite Material Masters™ software it’s possible to untangle the Gordian Knot of bad master data and transform it into an asset that can [...]

What’s the BIG DEAL about Master Data?

By |2019-07-16T17:08:37+00:00December 21st, 2018|Quick Reads|

It’s really no secret that master data is a key component to building a lean, efficient process-driven Supply Chain organization. But what remains elusive to many businesses is how to effectively manage their data given that there are multiple stakeholders who are accessing and inputting the data in ways that, unfortunately, aren’t always congruent throughout the company. The result: bad data. • Businesses struggle with organizing Material Master data.• Once organized, the challenge becomeMaintaining structured data. • Employees are frustrated. Time is lost. Business decisions are compromised. Inaccurate and redundant data can cause the purchasing budgets of many companies to spiral out of control. As [...]