Material classification / Data Classification
An MRO material master data classification is a system that classifies and categorizes materials, parts, and components. This system can be used in an inventory management system to categorize items that are purchased or manufactured.
A well-designed MRO material master data classification will not only classify the items but will also provide information about the item’s part number, supplier, date of purchase or manufacture, quantity on hand, and other pertinent information.
Is your MRO material master data well classified? Is Spend Analytics giving you the insights you wanted?
With a good Material classification system in place, you stand to gain in different areas -a key one being improved spend analytics capabilities. Executives often struggle to gain insights into purchase inefficiencies, and the root cause analysis mostly leads to poor Material classification and analytics. A well-classified materials database can dramatically improve analytics, which then enables you to derive supplier intelligence, identify focus areas to reduce costs, gain insights into inventory movements and so on.
Some of the well-known product classification systems are – UNSPSC, eCl@ss, ETIM, MESC, etc., and we are very familiar with selecting and implementing the right system, based on the client’s needs. We have the skills and tools to efficiently upgrade a client’s master database to classify materials and suppliers based on the selected classification system. We also help develop custom Material classification, for clients having specific needs that are not met by standard classification schema.
We also help clients implement multiple classification systems, or map their items across different classifications such as eCl@ss to UNSPSC or vice versa.