In the world of industrial operations, maintaining accurate and comprehensive master data represents a critical component of your success. Master data lays the foundation for all of your maintenance processes and neglecting it can lead to major inefficiencies.

What’s Master Data?

Master data refers to the information that describes the key components of your assets. It includes information about parts, inventory and equipment. You will likely store the data in an enterprise resource planning system, which will assist with everything from managing parts inventory to scheduling maintenance.

Master data management (MDM) is the process of keeping up with all of your foundational information. You’ll need to compile it, centralize it and maintain it for accuracy and completeness. At any moment, you should be able to view the actual equipment down to the serial number, all related maintenance tasks, and all the parts needed to maintain it.

What Happens if You Neglect MDM?

A lack of adequate MDM can lead to a range of challenges. Suppose that you have outdated equipment records. Your maintenance team may not have the information they need to perform repairs on time, which can lead to extended downtime. Your maintenance costs will rise, too, and your equipment likely won’t hold up as long.

Poor master data management can lead to inefficiencies in your inventory processes. You may find yourself overstocking certain parts while running out of others. Sounds like a nightmare for your stockroom personnel, doesn’t it? The good news is that all of those headaches can be avoided by simply maintaining your data.

Best Practices for Maintaining Your Data

Here are a few simple steps you can take to maintain your data:

• Standardize Entry Processes

  Ensure that your team enters all information in the same format. There shouldn’t be any variations from one shift to the next. If everyone enters information using the same basic nomenclature, it will be easier for all team members to search for and retrieve data.

• Regularly Update Your Systems

  Make sure that you regularly review your master data. Look for any outdated information and make necessary updates to equipment or inventory records. Retire old assets, update maintenance records and add any new machinery.

• Implement Governance Protocols

  Establish clear policies and procedures for managing your data, and delegate your many governance tasks to different team members. Put someone in charge of quality checks and ensure that all relevant personnel are trained in MDM best practices.

• Leverage Cutting-Edge Tech

  Use advanced data management tools to automate data entry, validation and reporting. This can help reduce the likelihood of errors and free up team members to engage in more dynamic work.

Put Data at the Center of All You Do

Maintaining your data requires a proactive approach and ongoing commitment. It’s not a set-it-and-forget-it process. By taking the time to keep your information organized and accurate, you can improve operational reliability and set the stage for better profitability.