Manufacturing companies can benefit greatly from bringing order to their vendor data to capture the significant potential for better decision making and quicker time-to-market.
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Like many of you, I’m excited for the release of Batman vs. Superman: Dawn of Justice this week. Perhaps not quite as excited as I am for season 6 of Game of Thrones, but excited nonetheless. Of all the comic book superheroes, Batman in particular has always captured my imagination.
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Getting to know your customer is always easier said than done. Once you start this journey, some of the first things to consider include “who is our customer?” “what appeals to them?” and most importantly, “are we even speaking their language?”
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How do you make the best decision in terms of whether to build or buy, when a new Master Data Management project is introduced?
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Author: Jennifer Krizanek
Do you ever find yourself wondering whether businesses even know who you are? Or better yet, how many times have you willingly given information about yourself and they still can’t identify you or your account when you begin a business transaction?
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Multidomain Master Data Management (MDM) offers organizations the ability to integrate and analyze disparate data assets (i.e. customer data, product data, supplier records, etc.) no matter where the information resides within different business units or departments. According to Aberdeen’s 2014 Big Data survey, 50% of surveyed organizations cited data siloing as a top challenge facing their analytical efforts. This is where multidomain MDM can help. An end-to-end system handling multiple domains enables alignment of data needs with data delivery, preventing valuable information from being locked away in one place. However, in the current data management landscape, less than half of organizations have a multidomain MDM solution. Across 163 organizations, the most common method of handling master data involved no formal system at all (Figure 1).
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There were two games going on last night. One was obviously a contest between two great football teams. The other was a contest in which you were the prize: your eyes, your loyalty, your dollars.
What was your favorite commercial? Katie Couric and Bryant Gumbel poking fun at themselves for BMW? “Allison, can you explain what Internet is?” Snickers’ “Brady Bunch” spoof? Apparently self-deprecation was as big this year as tugging on the heartstrings (hard to beat the puppy commercial for Budweiser, but I quite liked the words of Muhammad Ali and action of Amy Purdy for Toyota).
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According to RSR, "Retailers should assume that all of consumers' purchase decisions will be made with the influence of information made available on mobile devices."
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I have had the pleasure of working with a few large national retailers who source products from local suppliers. This is a great business model that allows these companies to provide back to and develop strong relationships within those communities. Regional buyers have control over the purchasing decisions in their regions which affords them the opportunity to lower purchasing costs by reducing shipping costs, offering potentially fresher products (think produce) or products that can only be sourced in that area, and it provides the enterprise an opportunity to reinvest back into the community, strengthening their bonds with suppliers and customers alike.
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