midas services services

Master Data preparation

Master Data is the practice of integrating, cleansing and rationalizing data from multiple systems into an accurate, unified master record. It strives to arrive at a single version of truth - an agreed-upon golden copy of data that can be used in core business activities. MIDAS helps the clients to meet their ROI on their mdm initiatives by successful completion. Our MDM practice helps to implement and support MDM solutions without subject matter experts and technology experts.

Material data Preparation

Material Master Data Cleansing, in short refers to the process of cleaning, de-duplication and standardizing data to meet the business requirements. Data quality is largely affected by the way data is entered, stored and managed. Since, the data is entered and recorded by different people at different levels in any organization, it lacks consistency.

Structured Cataloguing

Whereby classification of material data is carried out based on the noun and modifier system of cataloguing and data is structured according to standard attributes.

Data enrichment

We add value to data to make it highly structured. We Structure the source data with reference from the manufacturer’s catalogue or though other resources.

Data enrichment

Material Coding

Achieving uniqueness in the existing stock, Avoiding duplication, Easy identification by the end user, Ease of procurement by extension or derivation of the existing code to the current requirement, categorizing the item accurately (We adopt a logical and auto coding to classy products and serves by following international systems such MESC, UNSPSC, ECCMA, ECCN, HTS, CSI etc.,

Data Cleansing

Material Master Data Cleansing, in short refers to the process of cleaning, de-duplication and standardizing data to meet the business requirements. Data quality is largely affected by the way data is entered, stored and managed. Since, the data is entered and recorded by different people at different levels in any organization, it lacks consistency.

Standardization

The data is executed by applying standard values and information with reference to international standards for generic/standard items. We also help in cross referencing of item i.e. identifying equivalent item from a different manufacturer, identification of a similar item with almost the same specification from a different manufacturer.

Service Master Data Preparation

The Service master contains information of all the procured services by an organization from external / internal service provider. The service master is the central pool of information where service specifications are entered only once and same service code can be used repetitively as and when required. The details of services are included in service master record and combination of one or more service makes the service specifications for external service providers in the purchasing document.

Data Structure of Service Master

The service data is available and common to all. The basic structure of the service master is as follows.

Data Structure of Service Master
Material Master
  • MRO - Materials Management
  • Data Profiling
  • Data Cleansing
  • Data Normalization
  • Language Conversion
  • Taxonomy / Schema
  • Data Enrichment / Enhancement
  • Duplication (rationalization of vendor base by cutting down on multiple suppliers)
  • Payment & taxation errors/frauds
  • Incomplete data (original vendor name, address, hierarchy, etc)
  • Lack of information (source of certifications, W9 forms, insurance certificates, etc)
  • Service Category ( Such as Civil, Mechanical, Electrical, Instrumentation etc,)
  • Service Group ( Various group based on service rendered )
  • Service Number ( A Service number is provided to differentiate each and every service)
  • Spare Parts review (E-SPIR - Helps to eliminate duplicate items, vendor codes are verified)
  • Equipment Register
  • Equipment class
  • Functional Location
  • Task
  • Preventive maintenance
  • Bill of Materials

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