Significance of Data Governance in the Consumer Goods Sector
Consumer Goods play a critical role in our day to day life. Right from eatables to personal care products, it touches lives of billions of people every day. Huge customer base and broad range of products generate colossal amounts of data every single minute creating zillions of data silos. Industry leaders face constant challenges in decision making due to unavailability of reliable information in the absence of stringent governance process resulting in data inconsistency and duplicity.
Prospecta’s Master Data Online (MDO), with its proven expertise in Master Data Governance and Data Integration, has helped various global leaders in the Consumer Goods space to cleanse and govern their existing master data in accordance with standard business rules and work flows.
An American multinational confectionery brand, a global leader operating out of more than 160 countries removed over 15% of the total existing records with MDO’s cleansing and standardization tool making their data free of duplicity and redundancy. In addition, MDO Governance was implemented in parallel for long term sustainability. It also standardized various MRO spare parts and other materials using nouns, modifiers and business validations creating short and long descriptions for the same.
One of India’s leading conglomerate with substantial investments into Tobacco, Foods and Personal Care Business, automated their Demand & Planning process with MDO’s Material, Customer & Vendor Masters leading to an error free process and minimal manual intervention to save lot of time and effort. Data consistency and central repository of the master data record created a single source of trustworthy and reliable data.
One of the biggest Consumer Goods player in Asia, streamlined their core business processes using MDO’s process-oriented approach of workflow and SLA functionality such as Critical Path Study management, Timely start of production, BOM update in SAP, Update of planned prices and Release of standard costing. Auto-generated escalations and reminders leads to a proactive working environment resulting in on-time deliveries. User friendly interface and flexible nomenclature made it easily adaptable at each level for efficient inventory and operations management.
Another example of the industry using MDO is of a leading food company in Australia which uses it to maintain records related to their retail products and recipes. The records are clean and with complete hierarchy and workflow approvals.
MDO enables business leaders to work smartly with a trusted view and traceability across data to accelerate time to market.