Taxonomy, or data dictionary, refers to the class and characteristics applicable to any material. It is a combination of:
- NOUN - A unique and lowest common set or group of products (eg, bearings, motors, pumps, connectors etc).
- MODIFIER - Primary type of the Product within a given Noun, based on product type (what it is); usage (where used); functionality (how it is used); custom specs of the product (eg, bearing, ball. motor, induction, pump, submersible etc.
- ATTRIBUTE - A specification, feature or a characteristic of the product that defines the physical, compositional, structural or performance information of a product or a service (e.g., size dimensions, material specifications, product standards, current/ voltage ratings, load ratings etc).
Benefits of Taxonomy
Having a taxonomy defined and the material data arranged by the taxonomy has many benefits such as:
- Fast & Accurate Search –
- Easy to search for alternate vendor based on a form-fit-function replacement of a part based on noun-modifier-attribute.
- Predictable search method in the parts catalog.
- Better Spend Analysis –
- Quick identification of obsolete inventory.
- Actionable spend analysis.
- Data Governance –
- Facilitates duplicate identification.
- Facilitates new material creation.
- Assists in selecting the right part for use/purchase.
How Utopia can help
With deep knowledge in consulting and services around the taxonomy and materials data cleansing domain, Utopia appreciates the importance of a good taxonomy. Having worked across multiple domains with many global Fortune 500 companies, we understand which classes are more important than others depending upon the industry.
We also have a catalog of over 1.3 million materials data downloaded and cleansed from leading manufacturers & vendor catalogues. This data is arranged per the Utopia Standard MRO taxonomy, that consists of 3,000+ classes developed over the years and combining leading industry standards like UNSPSC, e-OTD, ecl@ss and so on.