Improving Vendor Relationships with Complete Master Data Management (MDM)

Company

V-Soft Digital worked with one of America’s leading producers of food products. The client operated in multiple facilities in the U.S. and Canada and worked with hundreds of vendors to produce their products. The client needed to optimize its master data quality and deploy a cloud-based master data management solution.

Challenge

The client had issues with the maintaining master data quality for vendors. The client had barely any oversight for this data. An updated, efficient data management solution was needed. The client wished to have the following master data management capabilities:

Rapid new vendor onboarding
Vendor self-service
Reconciled systems with no duplicate vendor accounts
Efficient product onboarding from vendors using a standardized format
Organized supplier rules and governance requirements
Complete and consolidated view of all vendors, sub-vendors, vendor hierarchies and vendor product hierarchies
Ability to enforce and track submissions of compliance information and documents

Solution

V-Soft Digital deployed a cloud-based master data management solution called Vendor 360.

Empowered the organization to manage 100% of their vendors and gain complete visibility which strengthened vendor relationships
Delivered quality data and removed the risk of storing inaccurate or inconsistent information
Centralized and standardized data across the organization, making it easier to complete reporting, onboarding, and integration of vendor data and identify duplicate records
Allowed greater predictability and visibility into the entire supply chain
Provided the ability to make strategic decisions based on accurate data

Result

The master data management project helped the client optimize its master data quality and use the cloud-based master data management solution to increase operational efficiency and gain complete visibility and insights to make informed business decisions.