For an efficient and effecting inventory management process, all levels (employees) need to understand the requirements of others (departments) and work using pre-defined guidelines to ensure consistency of good information.
Article: OK...... Data has it place as primary source for understanding 'something', but true, high quality information is the way forward.
"Data. Information. They are the same thing!"
Are they?
DATA
1.Information in raw or unorganized form (such as alphabets, numbers, or symbols) that refer to, or represent, conditions, ideas, or objects. Data is limitless and present everywhere in the universe.
2.Computers: Symbols or signals that are input, stored, and processed by a computer, for output as usable information.
Source: http://www.businessdictionary.com
INFORMATION
Data that is (1) accurate and timely, (2) specific and organized for a purpose, (3) presented within a context that gives it meaning and relevance, and (4) can lead to an increase in understanding and decrease in uncertainty.
Information is valuable because it can affect behaviour, a decision, or an outcome. For example, if a manager is told his/her company's net profit decreased in the past month, he/she may use this information as a reason to cut financial spending for the next month. A piece of information is considered valueless if, after receiving it, things remain unchanged.
Source: http://www.businessdictionary.com
Having worked at various levels in the Inventory Management 'process', dealing with various levels of personnel, wanting different things from the systems used.
In the world of materials cataloguing everyone has their own opinion on the way materials information is captured - whether you want to admit it or not! I haven't seen any material master which is consistent in the way it's presented. This inconsistency ultimately goes against the above definition of 'good' information. The big question here is WHY? Why are material masters consistently falling short of effective information quality?
How? - How is data captured to allow the correct information to be available in your Material Master.
What? - What process/rules are used to allow the correct information to be available.
When? - When should the material record be catalogued? When all criteria in the rules are met? You have most of the data but not all of it - lets create the record anyway? " We need it urgent so I'll get a Material No. now and fill the data later!"
Who? - What individuals/departments decide on what information is required in the material record, to correctly catalogue a item? Who checks the quality?
So many questions and more not listed. When you are at work trying to find the information you need for that new or urgent material request or stock check (amongst a plethora of other things), can you answer the questions asked above? Can you put your hand on your heart and know that everyone is following the company line in regards to materials data management? Are your guidelines creating good information? It can only take one link in the chain to bring the cogs to a grinding halt. But that's OK because you are not going to pay for it are you?
For an efficient and effecting inventory management process, all levels (employees) need to understand the requirements of others (departments) and work using pre-defined guidelines to ensure consistency of good information.
Do not forget there is still time to have your opinion.
https://www.surveymonkey.co.uk/r/agentis-materials-management-questionnaire
Phone: (01224) 506543
Company: Agentis MDMS Ltd
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