The stocklist is at the core of your products and analytically disassembles your items from top to bottom. Particular attention is paid to a uniform product structure and the master data contained therein. These include, among other things, the part number, the part name, the associated quantity units, the hierarchical order of the components and other application-specific master data, which likewise rarely change. These stocklists are accessed by countless departments in your company, such as production, procurement, sales or even finance. Each of these divisions requires application-specific information, and this usually leads to the stocklists of your various products being created and maintained several times. Sooner or later, this is the beginning of qualitatively poor product master data and various consequential errors in operational processes and activities. What’s more, this approach is also inefficient and time-consuming.
In the worst case, a heterogeneous and inconsistent data landscape in your stocklist or product master data can also have serious effects. This is because technical problems or errors in the process and in the work processes have an impact on product safety as well as on your company’s associated liability. These deficiencies are particularly dangerous because they usually arise after a delay and have costly consequences.
Before you rebuild the entire data landscape around your products, consider implementing our Master Data Management system. In this way, you consolidate your product master data with all relevant data attributes in a centralized database, through which you share the data with other departments and IT systems. Custom access and editing rights keep you in control of your article master data, and each department has access only to the product information relevant to it. This will also keep your product master data quality permanently high, which means that you can permanently prevent consequential errors and problems in technical and operational processes and procedures.
The heart of your Master Data Management is the Enterprise Suite. It is an all-in-one enterprise software that combines centralized data storage, database, data hub, work system, workflow and reporting tool. You are completely independent of the prevailing IT system and any third-party providers. At the beginning, we will work with you to create a model for your product master data. This contains the total data attributes relevant for all departments. This creates a so-called Golden Record (master data record) for each product from all available source systems and source files in the Enterprise Suite. This complete, reliable and homogeneous master data record of your products is stored centrally, including information on the origin of each individual data attribute. In a further step, you map the hierarchy, dependencies and relationships between the attributes and product master records. This gives you a complete 360° view of your product structures. Subsequently, a detailed version history, with user, time stamp or validity, is created in the daily work when changes are made to your article master database. This, in turn, is the basis for the integrated reporting tool. This allows you to create reports, analyses, exports and graphical representations, either date-stamped or fully up-to-date. This also includes the creation of application-specific lists from your central, correct product stocklists, such as development stocklists, production stocklists, procurement stocklists or lists of spare parts. You can centrally coordinate interdisciplinary collaboration via the integrated workflow tool. So everyone knows when, what and how to do it. You also implement internal control principles and approval processes.
With Master Data Management, you take your product master data to the next level and make the processes and processes in the field of data maintenance efficient and traceable. What’s more, you create all application-specific lists derived from the stocklists with digital support efficiently and precisely in the reporting tool. When maintaining the product master data, the workflow tool ensures that all processes and procedures are actually adhered to throughout. In addition, you get a 360° view of your product structures that is permanently available, up-to-date or date-stamped. This will enable you to make sound, data-supported decisions regarding your products in the future.
