Why Manufacturers Need a Unified Data Strategy – Manufacturing.net

Data silos continue to grow—increasing the complexity of generating insights and slowing productivity.
Every supply chain manager knows that manufacturing is a team sport. Research and development, marketing, finance, and even customer support all play important roles in determining what products will be built and shipped out to store shelves. So why do enterprises still create data strategies without this collaboration in mind? Unfortunately, data silos continue to grow—increasing the complexity of generating data insights and slowing down team productivity. 
A Forrester study* found that employees plagued by data silos spend more than a quarter of their day searching for information just to do their job. It also found inefficient data management processes can cause a 24 percent drop in productivity, and 43 percent of product-focused employees say working collaboratively across departments is a challenge. With customers expecting fast, convenient shipping and deeper product personalization, manufacturers need to streamline communication by implementing a unified approach to data management. 
Master Data Management (MDM) solutions help to break down silos and give departments across an organization visibility into critical data from their colleagues through a “golden record” across all data platforms. MDM solutions can also provide the governance to limit access to confidential data as needed, ensuring data security without limiting collaboration. 
As the manufacturing industry faces increasing pressure to modernize, the future of production will depend on harnessing advanced digital technologies and data strategies. Trends like Industry 4.0, smart factories, and AI-driven automation are reshaping the way manufacturers operate, making data central to operational success. Here’s how MDM can support the future of manufacturing:

Data plays a key role in manufacturing at every level: day-to-day production planning, compliance with evolving regulations, and innovation with cutting-edge automation technology. Isolated data management practices hinder progress on all fronts. 
MDM enables manufacturers to eliminate data silos and achieve enterprise-wide visibility, fostering effective collaboration. By transitioning to a unified data strategy, organizations can align their manufacturing teams with other departments, streamlining operations and driving higher productivity. As manufacturing evolves, MDM will be the cornerstone of a successful digital transformation.
 

*Forrester, The Crisis of Fractured Organizations, December 2022

source
This is a newsfeed from leading technology publications. No additional editorial review has been performed before posting.