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

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How Master Data Management (MDM) Can Streamline
Your Supply Chain Process and Improve Business
Efficiency
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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 todays connected world. Our long-term
  partnerships and valued relationships provide the
  basis for fluid collaboration and an innovative
  solutions-orientated approach.

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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. 

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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.

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• 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. 

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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

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• 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.
• Cozentus supports SCM businesses by providing
  overall data solutions including data
  warehousing, business intelligence, master data
  management, data analytics including predictive
  solution based on historical data.

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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_at_cozentus.com Website
https//www.cozentus.com/