Master data management
On a mission to improve data quality for a speedier, more efficient supply chain
What is master data management?
Master data management is a set of processes that that defines and manages an organisation’s data. The aim is to ensure that an organisation doesn’t have multiple sources of potentially inaccurate data.
Why is master data management important?
An efficient supply chain relies on good quality data so having the tools to maintain high quality data is essential.
The GS1 UK Data Crunch report reveals that the retail industry can save £1bn in just 5 years by addressing the issue of poor data quality. With master data management, companies can easily manage the huge increase in demand for retail product information and improve the consumer experience.
How can master data management help me?
Supplier
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Retailer |
- Introduce new products to market faster
- Understand the customer better for sales purposes
- Have product origin and environmental data to hand
- Support sales with extensive nutritional and ingredient data
- Quickly reconcile invoices and payments
- Prevent returns and delays
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- Deliver a better service with enhanced product training and information
- Influence sales with more marketing information and cross-selling opportunities
- Reduce returns
- Prevent running out of stock of a product
- Have accurate shelf labelling
- Achieve 100% scans at the checkout
- Produce accurate receipts
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What's GS1 UK doing to improve data quality?
Ideally, we think that supply chains should have one standard approach to sharing common product information through Global Data Synchronisation (GDS).
We operate the industry led Data Synchronisation Group that finds practical ways to improve data quality. The group’s aim is to ensure everyone’s data is of the right quality to be shared through GDS.
Get in touch
Contact Robert Besford on 020 7092 3553 or Robert.Besford@gs1uk.org
Useful documents & links