In today’s complex business landscape Master Data Management (MDM) has gained importance due to increased customer demands, requirements for increased accuracy and timing of data from suppliers, and ever-growing government regulations. MDM including customer data, supplier data product lifecycle management and data governance are all significant contributors to these tactical business priorities.
Creating an effective Master Data Management program requires support from all levels:
- Senior management to support the program and help drive initiatives from the top down.
- Business users to champion the program and assist with a smooth implementation.
Tips for Implementing an Effective MDM Program:
Let business drive the initiatives:
- They work with the system on a daily basis and have a unique insight into what is needed to improve the business processes.
- Follow up on the initiatives proposed and make sure to fully understand what the business needs.
Terminology and Acronyms:
- Be clear on the terminology and acronyms used in the programs.
- Words and phrases can have different meanings based on the organization and background of the person speaking.
- Have a website for the program and maintain a dictionary for these terms and acronyms.
- Incorporate business process and business rules as part of the master data program.
- The program is more than just enforcing data elements based on a lookup or validation process, but needs to incorporate business process and business rules that influence the data validation process.
- Establish a clear process that identifies the owner of master data elements that are cross organization.
- Have clearly defined goals for the program, both short term and long term.
- Is the program strictly for analytical review?
- Will the program define and help business enforce business processes?
Crawford Software has implemented Master Data Management and Product Lifecycle Management programs in multiple industries and multiple systems. We have experience in highly regulated industries, such as medical device manufacturing, and can help your organization design and implement a MDM program that provides a full life cycle for your data.