The company wanted to get rid of isolated inventory and procurement process of recent acquired companies.
The challenges company were facing as follows
- Operating on a plant-specific basis with individual material numbers and vendors
- Lack of cross-inventory visibility, and no existing standards for controlling data
- Existing data condition did not allow for the merged companies to capitalize on their operating synergies
- Data prevented them from leveraging economies of scale and strategic sourcing
Developed a plan to create new organizational unit that would control and monitor the standards for data creation and data integrity.
- The new unit called the Central Master Data Management organization (CMDM), would operate as a shared services organization for each of the business units.
- Worked with the company to establish the standards for which data would be managed, and guided them through the vendor selection process to “scrub” current data to meet that standard.
- Facilitated and managed the clean-up process between the client and 3rd party vendor to complete the process. After the initial rollout, developed a custom Portal utilizing webMethods to improve CMDM efficiency and support for ongoing data management.
The implementation has recognized a number of significant business benefits to the company including
- Uniform/Shared Materials and Vendors
- Cross-plant inventory visibility – reduction in expensive redundant inventories
- Over $3MM in savings from Strategic Sourcing activities
- Business Intelligence reporting to monitor and rationalize spend activities