ISO Publishes International Standard 8000-115 for Master Data the Exchange of Quality Identifiers
QuipLab helps businesses reduce procurement costs
WASHINGTON, March 27, 2018 (Newswire.com) - The International Standard Organization (ISO) approved and published ISO 8000-115 for QuipLab’s Quality Identifier Prefixes (the “QUIP”).
The single most important part of ISO 8000 is the QUIP. ISO 8000, and Part 115, help companies to organize and manage enterprise Master Data about customers, products and transactions. The adoption of international standards is increasing as the world economy continues to integrate into a global marketplace, and as the complexity of transactions increase.
“QUIPs are a great solution to a problem that has dogged industry for years: How to identify part numbers in a standard way, based on an international standard that can be used throughout an enterprise and among trading partners. It is a key piece in the never-ending quest to improve the procurement and inventory rationalization processes.” (Steven Arnett Member, Board of Directors, ECCMA, Former Chief, U.S. National Codification Bureau)
ISO 8000-115 (QUIP) was developed to address specific challenges facing most companies. The goal is to reduce costs and open access to new customers and markets, for businesses of all sizes and across all sectors.
Noetic Partners President and QUIPLAB Manager, Justin Magruder, said, “These standards define requirements that ensure distributors and manufacturers speak the ‘same language’ as their customers. Rather than burden companies with more regulations, standards create specific frameworks that address and solve real-life challenges to electronic commerce, and the benefits are measurable.”
The newly published ISO 8000-115 standard (QUIP) will solve supply chain failures by providing unique, identifiable product identifiers that link to easy-to-access technical product specifications in the standardized ISO 22745 format (https://www.iso.org).
As data has become digital, companies have struggled to reduce costs due to failed orders. These failed orders are caused by bad data such as incorrect product numbers and incomplete supplier information. High procurement costs are due to not only failed orders but also for the manual need for data cleaning, cataloging, codification and data enriching.
The business challenge, and the opportunity, is to streamline the order process and eliminate these errors and costs, which ISO 8000-115 addresses.
According to Dan Carnahan, the Chairman of the ANSI/USTAG for ISO/TC 184, the US expert to several ISO/TC 184 technical committees, and US expert to various ISA & IEC technical committees, “By implementing ISO 8000-115 and ISO 22745, companies can validate their vendors and products to streamline the ordering process. They standardize product numbers and technical specifications so that all market participants maintain accurate, validated, verifiable and recognizable data.”
For companies who want to take steps to reduce procurement costs, adopting the standard is simple and does not require changes to the company’s current procurement system.
· Registering for a QUIP or Prefix at https://quiplab.com is quick and easy.
· Prefixes registered should be branded names of the company or product. For instance, Corning Inc has registered ‘Corning’ as their Prefix and will use this prefix before all of their product numbers.
· Once the Prefix is registered, product specifications must be formatted into structured data (XML documents).
· Product specifications must be loaded into the open global registry of technical specifications, such as ECCMA’s eTSR registry (https://eccma.org) - a free service.
· Alternatively, companies can publish specifications in internet-accessible document management systems and update links to the QUIPTM Prefix registry.
More information about ISO 8000-115 is found at https://www.iso.org/standard/70095.html
QuipLab, an Entity Resolution Services company, was launched in 2016 with a mission to act as the Registrar to manage prefixes and sub-prefixes with the goal of improving data quality throughout the supply chain.
QuipLab is a registered trademark in the United States and many other countries. The names of actual companies and products mentioned herein may be the trademarks of their respective owners. The International Organization for Standardization (ISO) is an international standard-setting body composed of representatives from 163 national standards organizations and headquartered in Geneva, Switzerland.
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Source: QuipLab, An Entity Resolution Services Company