Reinventing master data management in consumer electricals & electronics
Consumer electricals & electronics manufacturers are increasingly digitalizing their administrative processes with the goal of zero-touch end-to-end processing and enhanced analytics for improved purchasing and supply chain decision-making. This approach is highly dependent on complete and accurate master data and streamlined master data management to ensure reliable transactions and decision-making.
NelsonHall, in collaboration with Infosys BPM, has drawn insights based on interviews with 30 master data management leaders in major enterprises across North America, the UK, and Europe with a study titled ‘Reinventing Master Data Management in Consumer Electricals & Electronics.’ This study highlights the key challenges faced by master data management organizations, the importance of enhancing master data management, and examines the success factors in master data management implementation. The key findings of the study include:
- Only 10% of MDM leaders are highly satisfied with their organization’s overall master data management.
- When outsourcing master data management services, 60% of MDM leaders favor a single third-party supplier of comprehensive data management services.
- Master data management leaders are highly willing to consider outsourcing elements of their MDM support processes.
- Key use cases for enhancing master data management include earlier identification of potential customer and supplier failure and distribution hold-ups.
Click here to know more about the challenges faced by consumer electricals & electronics manufacturers in their approaches towards master data management.