Subject area: Materials Data Management
Yet, many companies pay too little regard to how they create and record spare parts descriptions.
This creates two major problems: it adds cost and is operationally inefficient.
Poor item description discipline results in duplication of items – meaning that you will hold more than you need.
It is operational inefficient when users find it difficult to find items and so then order directly. Your procurement team will also spend time trying to identify items and may even order the wrong thing!
This is why data management and governance is a fundamental requirement for effective spare parts inventory management.
Governance systems are important because no matter how well your spare parts identification system is set up, without appropriate data governance, structure, and process your data will lose integrity over time.
Materials data is a critical resource for manufacturing organizations seeking to enhance products, processes and, ultimately, profitability.
At SparePartsKnowHow.com our solution for improving materials data management solves all of these problems.
Through both software technology and services we help you solve your spare parts materials data management problems once and for all.
We can provide:
- Data standardization, cleansing and enrichment
- Data governance
- Bills of material
- Walk downs
- Asset hierarchy development
Without accurate data you cannot properly optimize your inventory, you risk costly procurement mistakes, and you risk extended downtime due to stock outs.
So, what’s at stake?
Operational integrity and results – the very reason you stock yoru spare parts in the first place!
But, once you get this right there is no looking back.
You will know what you have, where it is, and where to buy more!
Data management is like oxygen, you only notice it when its not there.