What is Inventory Data Management?

What does Inventory Data Management mean?

Inventory Data Management (IDM) is the practice of ensuring that all data related to stock and spare parts is accurate, standardised, and up to date. This includes information such as material numbers, descriptions, quantities, locations, and reorder points.

Poor inventory data can result in stockouts, overstocking, and procurement inefficiencies, while high-quality inventory data ensures smooth operations and cost-effective supply chain management.

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Why Inventory Data Management is important

Operational efficiency – prevents stockouts and reduces downtime.
Cost savings – avoids excess inventory and improves Spare Parts Management.
Visibility – provides accurate reporting for planning and forecasting.
Standardisation – aligns inventory data with Data Standardisation and ISO 8000.
Integration – enables seamless use of inventory data in ERP Data Quality, EAM systems, and MRO Procurement.

How Sharecat improves Inventory Data Management

Sharecat Data Services helps organisations achieve reliable and efficient Inventory Data Management by:

Cleansing and enriching MRO Data for consistency.
Identifying duplicates with Duplicate Material Identification.
Structuring inventory records for use in Spare Parts Inventory Optimisation.
Preparing stock data for Data Migration Strategy projects.

By improving inventory data, Sharecat enables companies to optimise costs, reduce operational risks, and ensure reliable supply chain performance.

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Glossary

What is Inventory Data Management?

What does Inventory Data Management mean?

Why Inventory Data Management is important

How Sharecat improves Inventory Data Management