The Business Case for Asset Master Data Quality in Asset Intensive Organisations
Key Takeaways
⇨ Accurate asset master data increases effective wrench time by reducing the time maintenance workers spend searching for parts and information.
⇨ Cleansing and standardising MRO materials descriptions can lead to substantial savings in procurement and inventory holding costs.
⇨ Better master data quality directly contributes to decreased downtime and enhanced overall asset performance, increasing corporate EBITDA.
Explore the components of a compelling business case for prioritising asset master data quality in asset-intensive industries such as oil & gas, utilities, and manufacturing. It emphasises that accurate and complete master data is fundamental to leveraging advanced automation technologies like IoT and Industry 4.0, particularly within the SAP S/4HANA framework. The benefits outlined include significant enhancements in maintenance productivity, supply chain cost reduction, and overall asset availability. Organisations can realise considerable operational improvements and cost efficiencies by adopting structured data management practices.
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