The quality of data is largely determined by the rules and systems used to create and maintain records. Many organizations suffer from a deficiency in one or both of these, resulting in the subjective nature of data elements such as item descriptions or data classification taxonomies. A more effective MDM solution goes beyond maintaining consistency of reference data, but also manages relations between the entities of the data in order to generate better business insights
Due to geographical dispersal, the data may be obscured by organizational and personal preferences, resulting in an inconsistency, incompleteness, and duplication of data.
Throughout the years, we have developed a rich and comprehensive data dictionary (aka data taxonomy) for MRO data classification, including more than 5000 commodities. In addition to developing our own internal taxonomy, we also develop custom taxonomy for our clients.
When a taxonomy is established for a client, it serves as the basis for an initial data cleansing and enrichment program, as well as providing an ongoing data governance process.
The taxonomy typically has three main elements:
It is essential to have a reliable and scalable structure for the MRO materials database by developing a well structured MRO Data Taxonomy. An effective MRO taxonomy can efficiently classify materials into different commodity groups, which allows users to make intelligent decisions based on analytical data. By using the right material classification, you can gain real-time visibility into procurement spend patterns, optimize inventory and improve vendor relationships.
We have our own proprietary MRO taxonomy, developed with two decades of MRO data management (MDM) expertise in industry-standard taxonomies such as UNSPSC, eCl@ss, etc. Our MDM Specialists can suggest the most suitable taxonomy for your business based on your industry and purpose, or they can customize a standard taxonomy based on your needs.
Our Readymade taxonomies have been developed based on experience in various industrial verticals such as Oil & Gas, Mining, Pharmaceuticals, Food & Beverages, Manufacturing, etc. The taxonomy is extremely diverse, covers over 6000 commodities, and is suitable for any asset-intensive industry. This taxonomy includes a multi-level classification system (Nouns, Modifiers, Sub-Modifiers), along with an associated dictionary that provides definitions of all key attributes, abbreviations, and units of measurement (UoM).
|Inventory Manager||Purchase description|
|Peter (Site 1)||SWITCH, PRESSURE 3 BAR 250 VAC: -25 C TO + 70°C SIEMENS XMLB002A2S11|
|Sam (Site 2)||MONITOR, PRESSURE XMLB002A2S11 3 BAR 250 VAC -25 C TO + 70°C SIEMENS|
|Rob (Site 3)||CONTACT, PRESSURE (SIEMENS); PRESSURE: 3 BAR 250 VAC XMLB002A2S11 -25 C TO + 70°C|