Why should I use an MRO data taxonomy?
For asset-intensive organizations, the volume of MRO data increases every day, making it a challenge to manage data inside ERP, EAM / CMMS systems. A taxonomy enables you to define a hierarchical classification of materials and implement standard naming conventions, so you can ensure the data is consistent and governed by data quality rules implemented across the organization.
What is the difference between a Standard taxonomy and Custom taxonomy?
The most prominent taxonomies available for MRO materials are UNSPSC and eClass. While these are good for off-the-shelf mechanical products, certain specialty parts may not get covered or key criteria for industry-specific classifications (such as surgical-grade or food-grade items) will not be available. In such cases, a custom taxonomy can be implemented, designed specifically for a company’s business needs and aligned to industry standards and best practices.
Does Enventure have its own taxonomy?
Enventure has an exhaustive readymade taxonomy, covering over 6000 commodities and multiple industries. All these commodities are also mapped to UNSPSC and eClass, and has been developed over the last two decades by industry experts to cover multiple use cases. Though we have our own taxonomy, we don’t insist you adopt that. We can deliver services using any standard or custom schema.
How does Taxonomy benefit an ERP or EAM/CMMS Implementation or Migration?
Structured material data will make the implementation much easier by automatically mapping fields as per the ERP or EAM/CMMS system requirements and ensuring consistency of the data within the new system. Data that follows a good taxonomy improves the searchability of materials, as well as enhances functionality available in the system, such as spend analytics and reporting. It also helps you avoid transactional issues and delays, such as purchase order related issues due to poor purchase information conveyed to suppliers.