Reducing complexity of your direct material supplier parts can help drive significant savings within your company. Similar to our recently published blog which described the importance of conducting internal price benchmarking activities as a prerequisite to competitive benchmarking on a company’s direct material purchases. In both scenarios it’s surprising what you find when you are able to cleanse and enrich your purchase part data, it can expose a variety of opportunities to reduce direct material spend without having to make major changes to your products. To reduce the complexity, we recommend grouping your direct material spend into these 3 groups:
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Topics: Part cost, Governance, Benchmarking, Classification, Part Cleansing, Manufacturer Parts, Data Cleansing
Convergence Data knows the importance of your part data. We know that part data is a core asset for your company, and the quality of that data is fundamental to the health of the business and the bottom line. Start the new year right with a review of the best ways to get your data clean in 2017. Below is a recap of the top 2016 data quality blogs we published to help you stay on top of your company’s core assets in the New Year.
Top 5 Data Quality Blogs of 2016:
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Topics: Data Cleansing, Governance, Manufacturer Parts, Part Cleansing, 2016 Top Blogs, Part cost, Duplicate Parts, Benchmarking, Cleansing Data, Classification
