Stibo Systems - The Master Data Management Company
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Wrist Uses MDM to Create Supply Chain Transparency

Digital transformation powered by master data management helps Wrist to onboard items faster and provide optimal customer experiences.

Wrist is a global leader in supplying products to vessels and rigs worldwide. They were facing several data-related challenges:

  • Lack of transparency between suppliers and customers
  • Cumbersome supplier onboarding
  • Generic product descriptions causing suboptimal customer experiences
  • Lack of data standardization hindering digital transformation
“Master data has definitely become a strategic asset for us. We need to handle our product data with the same care as the actual physical products that we have in the warehouses.”- Mette Daugberg Stryhn, Head of Master Data Wrist Ship Supply A/S

Challenges

Different data formats call for consolidation

Being the leading global ship supplier in the world, Wrist feels obligated to be spearheading the digitization of the whole industry. Their goal is to create a digital business model where there is transparency between what the market has to offer and what the customers require.

Creating that transparency boils down to one very essential thing: master data management.

Wrist supplies around 250,000 products to globally operating customers and therefore needs to provide globally accessible products. The same crew and vessel expect to get similar products in both Houston and Singapore. If Wrist doesn’t have consistent master data on the products, then they can’t provide that quality.

Diversity of suppliers drive up costs

The broad diversity of digital maturity among the suppliers made it particularly hard to capture their data in a standardized format. Wrist was facing a wide product range and diverse global processes, language barriers and supplier dependencies. The need for transparency and real-time tracking further heightened the challenges.

It was important to consolidate both suppliers and the product database in general because Wrist wanted to build a cost-efficient system across the whole supply chain. Cost efficiency is a result of consolidation and transparency: when you know which specific products are relevant for which customers, and in which ports they are available, then it’s easier and faster to procure them. Vendors can be contacted well in advance, and customers will experience no delay. Transparency means cost efficiency for everyone.

Moving from generic to specific products to improve customer experience

The recent ability for Wrist’s customers to go online at deep sea has opened new business opportunities allowing Wrist to create a digital business model that includes ecommerce. But to do that, Wrist needed to move from generic products to specific products. Generic product data meant that Wrist would sometimes have just the product name, which made procurement difficult and also caused suboptimal customer experiences because the customer would not know the quality of the products they ordered.

With the master data management solution, Wrist can create rich product descriptions and offer specific products.

Solution

Streamlined onboarding and master data governance enables digital transformation

To bring about the digital transformation, Wrist implemented a comprehensive Business Data Management strategy built on a SaaS Product MDM solution with integrated capabilities for product onboarding.

This enables the ship supply company to govern all their product master data, including standardization of data, language layers and adherence to sustainability agendas.

Their approach is to view product information management and supplier management as a whole. Wrist defines the data format and manages it in the MDM, and the suppliers need to provide the data in the approved format as part of the data supply chain.

To onboard suppliers and products, the company uses multiple channels:

A Vendor API is used for large suppliers that have IT departments and automated product catalogs.

PDX Onboarding is an integrated product data onboarding solution for Product MDM. Suppliers map their data once after which, data quality is automatically maintained. As requirements change, suppliers are automatically updated, ensuring Wrist is always capturing the necessary data.

With Product MDM, Wrist has been able to scale operations. The company is asking suppliers to provide their full product catalogs and not just the products that Wrist is currently sourcing from them. This means, first of all, a faster onboarding of products, and secondly, the supplier gets a possibility to sell more, and Wrist can offer their customers a wider range of products. Both Sales and Procurement at Wrist can browse the market based on the suppliers that are already onboard and then decide which products should be in the Wrist product catalog and offered to the customers.

Previously, the customers would send quote requests to Wrist who would then figure out what they actually wanted. Now, everything is available online, and the customers can just choose specific and well-described products from the digital shelves, allowing Wrist to start procurement right away.

Software as a Service ensures flexibility

“With SaaS, we can concentrate on developing our business instead of upgrading systems all the time. We really wanted to get out of that loop of constantly thinking about preparing system upgrades. Now, we just have that as a service from Stibo Systems,”- said Birthe Boysen, Business Analysis & Master Data Director Wrist Ship Supply A/S
Learn more about this solution:
Product MDM
PDX Onboarding

Outcomes

PDX enabling faster product onboarding and higher data quality.

Better customer experiences through rich product data and transparency across the supply chain.

Ability to record sustainability data alongside other product information.

Enhanced data standardization, providing insights into supplier data for data-driven decision-making.

Streamlined supplier onboarding ensures compliance with financial and legal requirements, saving costs and avoiding potential risks.

Enhanced supplier information allows Wrist to measure, monitor and evaluate supplier performance, fostering transparency and best practices verification.

Boost in data literacy: At Wrist, data has become part of everybody’s job.

Company:

Wrist

Industry:

Ship Provisions and Logistics

HQ:

Denmark

Solution:

Product MDM with PDX Onboarding

Business Benefits

  • Supply chain transparency
  • Optimizing customer experiences
  • Enhancing operational efficiency
  • Scaling the business