Supplier Information Management, or SIM, is leading the digital transformation in Procurement.
Two dominant approaches for the implementation of SIM are multidomain MDM (Master Data Management) versus domain-expert MDM. The overwhelming advice when undertaking a supplier-related data project is to: “Evaluate a solution based on business requirements, rather than data problems to fix.”
Many enterprises looking to deploy Supplier Information Management opt for a Master Data Management (MDM) approach in order to capitalize on the benefits of authoritative data sources, data standardization and consistency; and the readily available access to business intelligence. Multidomain MDM solutions are often touted as the silver bullet for achieving a single source of truth and authoritative master golden records for an enterprise. This leads to an inaccurate conclusion that multidomain MDM will achieve a lower total cost of ownership and rapid time to value compared to a single domain, or domain expert MDM solution.
This report compares and contrasts these two common approaches:
- Time required for the implementation of the SIM project
- Processes spanning global, local, and cross-functional organizations
- Implications for data models and change requests
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