MDM and UNSPSC improves Category Management for Oil & Gas Companies

Part one, in this three-part series, investigated MDM with the PIDX (Petroleum Industry Data Exchange) data standard for item definition in the Oil & Gas industry.

Another core aspect of MDM is classification or categorization.

While MDM (Master Data Management) is designed to provide a consistent definition and classification of items and services, the question remains which industry standards are applicable in categorizing items and services for Oil & Gas.

The UNSPSC is a taxonomy of items and services that enables their efficient and accurate classification, while also enabling company-wide visibility of spend analysis and eCommerce capabilities.

A complete MDM solution would include both UNSPSC for taxonomy (or classification) and PIDX for nomenclature.

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“We chose Riversand and Comma after a detailed analysis of numerous solutions. They impressed with their understanding of this complex area and use of new technologies to address challenges that the digital age presents for the flexible and ubiquitous provision of product information. We look forward to working with them in the implementation of our new PIM solution”

Phil Lewis

Director of Digital

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