How does data get corrupted?

By |2019-07-16T17:07:25+00:00December 4th, 2018|Questions|

Getting your data in an organized structure is hard enough but getting it in order is only half the battle. Keeping your data organized can prove to be just as hard a task. You need to have strict rules in place or your data can overlap and finding items in your inventory can become a nightmare. If you don't adhere to a strict data structure, adding new items and using new abbreviations can corrupt your structure. If you have too many manual controls and processes it can limit your ability to enforce standards.Having limited resources can also affect your ability [...]

What is the UNSPSC?

By |2019-08-07T13:27:07+00:00September 12th, 2018|Questions|

The United Nations Standard Products and Services Code (UNSPSC) is a system which is used to classify all products and services around the world. It is a taxonomy structure that is widely considered the standard for today's modern world of eCommerce. This allows products and services to be classified more efficiently and accurately. By implementing the UNSPSC structure, your business is able to improve company wide spend, deliver procurement cost effectiveness, and reduce company costs all together.The UNSPSC classifies products and services in a hierarchical system, dividing them into four common tiers which pave the way for eCommerce. The groupings [...]

What is Data Governance?

By |2019-07-16T14:24:09+00:00June 25th, 2018|Questions|

Data governance is the overall management structure of an enterprise's data that establishes and maintains high quality data throughout multiple platforms of a business. It is responsible for the usability, cleanliness, and security of all data - ranging from customer relations, vendors, inventory, accounting, and supply chain management. A properly set up system of data governance allows you to engage in effective and necessary data management strategy, that will result in maximum profits and better decisions from staff.If implemented properly, data has the potential to elevate your business to the next level, it provides concrete statistical information that will back [...]

What is Taxonomy?

By |2019-03-22T13:35:56+00:00June 25th, 2018|Questions|

In 1758, Carl Linneus published the tenth edition of his book Systema Naturae in which he described his classification of the biological kingdom. Using taxonomic ordering, he aimed to give every living thing a specific name, and a group to belong to. In the same way, material master data is also broken down with a taxonomic system. By putting materials into smaller and smaller groups, it becomes easier to search for specific materials and to master new materials that are similar to existing materials. An animal would be classified first in the kingdom "Animalia" to separate it from the "Plantae" [...]

What is a Material Master?

By |2019-07-16T15:37:02+00:00June 25th, 2018|Questions|

The material master record contains all information about the materials a company procures, manufactures, stores and ships. The material master database contains descriptions of all materials that an enterprise procures, produces, and keeps in stock. It is the central repository of information on materials for the enterprise. The integration of all material data in a single materials database eliminates the problem of data redundancy and permits the data to be used not only by Purchasing, but also by other business departments and applications.The end goal of a material mastering project is a unique description for each material with consistent names [...]

What is Master Data?

By |2019-07-16T15:38:22+00:00June 25th, 2018|Questions|

Master data is the core data that is essential to operations in a specific business or business unit. The kinds of information treated as master data varies from one industry to another and even from one company to another within the same industry. Master data is an important enterprise asset, and effective management of this data is critical to maintain good operational and financial health.Master Data Management (MDM) is a comprehensive strategy to determine and build a single, accurate and authoritative source of truth of a company's information assets and deliver this on demand as a service.Master data currently has [...]