How The Single Source Of Truth Improves Efficiency In Manufacturing
Many leaders have hailed a single source of truth (SSOT) as the ideal solution for increasing manufacturing efficiency. According to studies, workforce management has evolved from paper-based record-keeping methods to cloud-based applications that improve transparency and efficiency.
According to Solvace experts, workforce management systems help manufacturing industries strengthen accuracy and efficiency while also providing record visibility with a company-wide view.
Large and small manufacturing companies can track everything digitally with new software and latest innovations, such as cloud-based Software as a Service (SaaS) applications.
Big Data Influence
It is nearly impossible to ignore the influence that Big Data has on businesses. According to Forbes data, 53% of businesses use big data to communicate their goals, policies, and decisions. Data is now one of the most valuable resources a company or industry has, and it’s critical in overcoming a variety of challenges.
Nonetheless, a common issue developing a viable strategy for organizing data in such a way that people can easily access and update it without having to worry about formatting or version control.
To get a rough idea of the volume of data collected today, the massive growth in data production over the last two years accounts for 90% of all data ever created. Data collection opportunities abound, and managing them requires a single source of truth strategy.
Companies can unlock the real power of data by utilizing a single source of truth data infrastructure.
What Is The Meaning Of A Single Source Of Truth?
A single source of truth (SSOT) serves as a centralized location for all information in a company or organization. Using an SSOT model entails more than a tool or a data infrastructure strategy. Instead, the business must adopt a new mindset.
Institutions that excel at this use a single source of truth to keep decision-makers and business leaders on the same page while minimizing the odds of unwanted duplication and overlap. This gives them a significant competitive advantage.
Benefits of Using A Single Source Of Truth
To use an analogy, one source of truth structure enables business solutions in the same way that fuel powers a car. Pure fuel keeps the vehicle running smoothly while increasing efficiency and reducing engine wear. Impure gasoline clogs fuel injectors and reduces the intake valve, resulting in a rough driving experience.
This theory can be used to develop large-scale industrial assets and organizations. Subpar input data will result in subpar decisions.
An SSOT guides large amounts of data and strategic intelligence applications. When working from a single source of truth, the data sources are updated and relevant to the majority of business decisions.
Other benefits include:
- Data values are delivered on time;
- Improved communication and productivity;
- No duplicate data entries or version control issues;
- Boosted data warehouse and intelligence;
- Minimal time spent validating records and data types.
When a decision-maker is required to address a problem, an authoritative source of truth (AST) is required. Whether dictating a company-wide policy or department-specific processes, data accuracy is a critical principle.
When a company can trust its information network, everyone can look to a single location to develop business intelligence reports. People spend less time preparing data and more time analyzing data.
What Happens When There Is No Single Source Of Truth?
Companies and manufacturers that do not have a single source of truth may struggle to complete projects on time and within budget. Employees in these companies read, use, and apply different information in this case, resulting in a lack of productivity.
Consider a company that wants to implement safety guidelines for its employees. Everyone comes to the first meeting with a lot of information from different sources.
These disparities make it difficult for the people to agree on the basic facts, let alone reach a consensus on safety guidelines. Before moving forward, people must lay a solid foundation of truth.They must ask simple but important questions like:
- How old is the data?
- Where is this data from?
- What version are we looking at?
- Is the data set accurate and complete?
The ideal infrastructure eliminates the need for many questions by storing constant and verifiable data objects in a centralized location. A trusted data management network improves collaboration and enables team members to hit the ground running.
How To Set Up A Single Source Of Truth
A successful single source of truth begins leadership buy-in. According to Solvace analysts and experts, even a well-structured SSOT will fail if organizational leaders do not support it. Obtaining buy-in takes time. It is, however, critical in the implementation of a global data management technique.
With the agreed-upon structure in place, an organization can shift its priorities to collect accurate data. Managers must schedule regular checks of the data portal to identify sources and maintain the data model’s integrity.
They must perform regular data updates to ensure that the information remains consistent, timely, and relevant.
Authorizing a large number of checkpoints will reduce overlaps and duplications.
Then, without having to worry about inaccurate and extraneous data elements, information such as metadata, documents, and reports can be extracted from the data portal. Such data can be filtered and saved by team members.
While having a single source of truth helps in breaking down silos and getting everyone on the same page, the final step is not automatic. As with most software tools, project stakeholders must still understand the data and what it is trying to say.
Nonetheless, having instant on-demand access to verifiable and trustworthy data simplifies everyone’s job. Their decisions are mainly based on truth and transparency, which improves the quality of their work.
Is A Single Source Of Truth Feasible?
While a single-source data model may not be feasible for some organizations, it can be possible for many others. Please keep in mind that buy-in, accuracy, and mutual understanding are essential components of a single source of truth.
Instead of pages and files, the centralized network must be built on components.Users can benefit from componentization by having a single source platform that aggregates data in a central location. Each datapoint is only entered once into the system and includes a comprehensive method of linking metadata and engaging decision-makers.
Solvace and the Single Source of Truth Go Hand-in-Hand
Solvace is the ideal Operational Excellence Software for managing datasets and implementing a single source of truth (SSOT) in manufacturing. With Solvace, your manufacturing operations will be centralized in a smart platform built with cutting-edge technology and complete with many customizable apps.
Our experts collaborate with clients to configure the platform in a way that achieves the best possible results for customers.
Contact us for information on how our operational excellence software can help manufacturers in implementing and optimizing a single source of truth strategy.