Master data management is important to anyone involved in component engineering or system development, but easily overlooked in the maelstrom world of high speed PCB design and FPGA programming. However, it’s a known fact that the most successful engineering companies are those who place master data management at the centre of operations.
Master data is spread throughout different departments and applications, making it easy for errors to creep in. These will affect all the users accessing that data. It can cause breaks in the supply chain, alienate customers and cause financial losses. For example, a component engineering company who doesn’t keep a tight check on customer masters can wind up with incorrect contact details, meaning marketing flyers, invoices, orders etc. get sent to the wrong addresses.
Item masters showing incorrect prices, and account masters with the wrong account numbers are other examples of poor MDM. In PCB design, there’s things like WEEE compliance and manufacturing bom (bill of materials) data to handle too.
Poor MDM doesn’t just hack off clients and frustrate admin staff; it can have more serious repercussions. Some CEOs have faced heavy fines and even been threatened with jail for what was basically shoddy bookkeeping.
There’s an easy way round this: outsource the work to a reputable company offering secure, specialized master data management services to the engineering industry. We at Enventure Technologies offer a wide range of quality engineering services, including MRO data cleansing and data conversion, to enable you to maintain integrity of your master data files more effectively.