Chemical
Chemical
Chemical industry is feeling intense pressure from the public and regulatory bodies with the increasing awareness of the devastating effects of plastic waste and improper disposal of end products. Due to this, companies are increasingly relying on advanced data analytics and digital initiatives to adopt more responsible and sustainable end-to-end manufacturing and disposal processes.
Challenges
- Not easy to acquire data, with long lead time for data creation and mass data changes
- Incorrect asset information has direct impact on reliability maintenance
- Skyrocketing costs of inventory and insurance spares, with no standards defined
- Complex specifications of finished goods, difficult to meet compliance standards
- Outdated or incorrect characteristics, hence the need to incorporate industry standards
- Ineffective collaboration with suppliers on raw materials and production data (outbound supply chain)
- Data knowledge is limited to a few key persons
- Data integrity issues—no validation mechanism across different datasets
- Supplier integrity can’t be guaranteed, hence increasing risk factors and sustainability issues
Master Data Domains
Primary
- Materials
- Spares
- Finished goods
- Raw materials
- Suppliers
- Asset-related data sets
Others
- Finance Data
How can MDO help
- Streamline master data request processes incorporating rules and SLAs, making use of online, mobile, and mass templates
- Audit trails and logs for all requests and changes
- Continuous data monitoring to guarantee quality and integrity
- Enhance supplier collaboration on critical data elements
Benefits and business case
- Data quality and governance become part of a larger transformation project, e.g., Migration or Mergers/Acquisition
- Master Data Management initiative to automate manual/semi-manual process and reduce headcount cost
- Industry compliance and standards for better collaboration
- Enhanced supplier collaboration
- Improvement in catalogued purchasing and reduction of free-text spend
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