What is Procurement Data Management?

Procurement data management involves the proper maintenance of item master data in an organization’s systems through the removal of duplicate entries so only updated, accurate and reliable data remains.

The best procurement organizations use a master data management (MDM) system that enables seamless integration with most enterprise resource planning (ERP) tools to bring together all supplier and item master data on a single, unified platform. This gives users access to updated, validated information.

Related Terms

What is P2P?What is Procure To Pay?What is Procurement KPI?What is Procurement Technology?What is Procurement Transformation?