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Master Data Management
Transcript of Master Data Management
Vendors / Suppliers
What is Master Data?
Master Data is
Any data essential for carrying out a business process
Data vs Information
Data = raw facts
Information = data that has been organised, processed or structured and has a meaning
Master Data exists in many process areas in an organisation
These are known as
Examples of domains in Mediclinic...
Items / Products procured
Other capital items
Pharmaceutical ethical items
Office furniture and equipment
Medical Capital items
Front shop customers
HR / Employees
Any data that
Examples of Reference Data
What is Master Data Management?
MDM in NOT a technology
MDM is a
identifies and manages business critical data elements,
ultimately enabling sound business decisions
An MDM solution assures the delivery of data that is
across the organisation and its distributed environments
MDM is a pre-requisite for effective Information Management
What causes MDM issues to arise?
Common problems with Master Data
The 3 Pillars underlying MDM
Assigning rules and accountability to all activities
Create rules and standards to manage and govern data
Ensure you no longer fix errors but rather prevent errors occurring in the first place
Formation of a Data Governance group with specific roles - Mediclinic IMC
Master data that is
Security and access to data
Growth of an
systems and processes
Data becomes outdated as changes are not incorporated timeously
Conflicting business rules,
E.g.: GP% calculated using Gross Sales in one place and net sales in another
Benefits of implementing MDM for item and vendor domains
Reduced group procurement costs
Efficient and effective
approach to MDM
The same patient recorded more than once - either in different systems or in different regions
Duplicates of the same product or item
procured in the group
Same patient is recorded twice
e.g.: with different postal addresses
Postal code captured incorrectly
e.g.: 5 digits instead of 4 digits
Same item is captured many times - each time in a different language
Item captured by its brand name
instead of its product name
Item = Band Aid and not
Item = Plaster
Chart of Accounts