Work at the foundation
One of the preconditions of successful performance is the appropriate management of master data. Master Data is the cored of critical information on which transaction data – and consequently our daily business operations – rely. Master Data cover data from four key areas:
- products and materials (e.g. product attributes, list price),
- customers (name, address, telephone number etc.),
- vendors (e.g. parent entity, address, offered parts),
- employees (name, position, address, organizational unit).
Companies should be aware of different approaches to the abovementioned data. The idea of integration of the databases used by a company and the information contained therein is not new and was actually the one of the reasons for the implementation of integrated IT systems. Unfortunately, the implementation of even the best ERP tool is not sufficient.
In the majority of large companies, in addition to an ERP system, a number of other applications are used, such as CRM, document flow, product life cycle management and other systems supporting ...