Even though maintaining a current, accurate repository of product, vendor and customer information is more critical than ever, many retailers find it difficult because they maintain multiple systems that require the same information, but in different formats. And they connect with many partners, each with its own system.
These multiple internal and external systems can lead to inaccurate and inconsistent information, creating costly redundancies and misleading analytics. Worst of all, faulty information can cause you to serve the wrong customer with the wrong product — a bad combination in today’s competitive retail environment.
Master Data Elements
- Item Master – Management of article master with its hierarchy
- Customer Master – Management of customer details with its profile
- Employee Master – Management of Employee user profile for POS
- Discount/Promotion Handling – Management of the promotion configuration data
- Payments/Media – Configuration and management of Payment and media types for store
- Coupon Handling – Management of Coupon Issuance and redemption based on promotion type
Article master, Merchandise Category and Listing
The article master contains information on all the items that a retail enterprise procures, stores and sells. It is the company’s central source for retrieving article-specific data such as the bar code, units of measure, procurement and replenishment data.
To ease and streamline the article master maintenance, the solution contains sophisticated listing functionality for automatic assignment of articles to assortments. The assortment defines which articles are available in a site during a specified time period. The merchandise categories and hierarchy allows the enterprise to classify and structure all merchandises to support the daily business. Each article will be assigned to exactly one merchandise category, while one merchandise category can group many articles with same attributes.
The purpose of MDM workbench is to streamline the process of creation of Master Data elements and their maintenance. The typical steps involved are:
- Grouping MDM Elements such as Product Master, Vendor Master or Customer Master.
- Assigning the owner to each of the Master.
- Defining process for creation of new records or updates to existing records with due authorizations.
- Automate the process to the extent possible. Define rules for validation of various fields.
- Ensure audibility and compliance.
MDM Global Data Synchronization:
MDM holds the master depository of Data for the retailer. The Data in the depository needs to be made available to internal as well as external systems.
Above diagram shows how MDM data is shared by various internal and external systems.