Reinventing master data management in high-tech manufacturing
High-tech manufacturers are increasingly seeking accurate and real-time supply chain forecasting to improve their customer lead times while reducing their stock levels and working capital. These goals are typically targeted by adopting an end-to-end perspective and increased process automation. However, to be successful, these initiatives are highly dependent on accurate and up-to-date enterprise master data.
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 High-Tech Manufacturing.’ 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 3% of MDM leaders are highly satisfied with their organization’s overall master data management.
- About 43% of enterprises are migrating or about to migrate to S/4HANA
- MDM leaders are highly willing to consider outsourcing elements of their MDM support processes.
- Characteristics sought in a third-party provider master data management services include the ability to transform the organization’s approach to MDM and increase the level of automation in MDM processes.
Click here to know more about the challenges faced by high-tech manufacturers in their approaches towards master data management.