International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

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Standardizing Material Master Data for Enhanced Supply Chain Efficiency and Accuracy

Author(s) Kosalee Thameera Galkaduwa
Country United States
Abstract This study focuses on analysing the consequences of work on the standardization of Material Master Data (MMD) as a source for supply-chain-related events. This study focuses on the aspects of data duplication, data inconsistencies, and poor data governance that would help understand the advantages of implementing international standards like ISO 8000 and a centralised MMD framework. Research shows that cost savings, organizational performance increases and better decision making is observed. Furthermore, MMD standardized for all products have been reported to shave off one-fourth of the procurement costs, have enhanced the forecast accuracy by 20%, and slashed stockouts by 15%. The work also acknowledges and defines barriers like resistance to change and provides solutions on how to achieve implementation. Supply chain management is an area of research that is crucial for organizations, and this study advances knowledge in this field and aligns with the move toward Industry 4.0 practices.
Keywords Material Master Data, Supply Chain Efficiency, ISO 8000, Data Standardization, ERP Systems, Cost Optimization.
Field Engineering
Published In Volume 3, Issue 2, March-April 2021
Published On 2021-03-04
Cite This Standardizing Material Master Data for Enhanced Supply Chain Efficiency and Accuracy - Kosalee Thameera Galkaduwa - IJFMR Volume 3, Issue 2, March-April 2021. DOI 10.36948/ijfmr.2021.v03i02.35252
DOI https://doi.org/10.36948/ijfmr.2021.v03i02.35252
Short DOI https://doi.org/g82h5t
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E-ISSN 2582-2160
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