Skip to main content

Global Supply Chain Standards Increase Efficiency In Your Business Operations

GS1 is a global standards organisation that develops and maintains standards to improve efficiency, safety and visibility of supply chains across the globe. GS1 standards enable businesses to uniquely identify, accurately capture and seamlessly share information on products, logistics units, locations, entities, documents and services across supply and demand chains.

Most commonly, these standards are used in assigning barcode numbers to consumer items. They also enable several applications, such as product authentication, POS checkout, online selling, stock availability, track & trace, product recall, real-time stocks monitoring, and more.

GS1 standards are open, neutral and technology agnostic, enabling companies of all sizes and complexities to use — send and receive data in the supply chain, and hence, gain visibility and exchange information. By the use of global GS1 standards across the supply chain, organisations can significantly cut down on administrative costs and paperwork.

Today, GS1 standards are used across 25 sectors, including retail, FMCG, healthcare, transport & logistics, railways, and more. 

Retail & FMCG:

GS1 standards:
  • Identify trade items and logistics units with unique numbers (GTIN, GLN and SSCC), encoded in GS1 barcodes. When scanned, these unique keys are read in an instant and make several other information attributes available, which are linked with these keys in the databases. This boosts operational efficiency and enable product visibility in the supply chain.
  • Enable POS scanning system for efficient retail checkout
  • Uniquely identify products to enable efficient B2B ordering, invoicing, timely replenishment, and hence increases fill rates
  • Facilitate shopper behaviour analytics by capturing region-wise sales and consumer behaviour data
  • Improve data quality of and validate Item masters/product catalogues through validation of GTIN (barcode) numbers.
  • Help retailers integrate physical and digital store operations, delivery and inventory management to meet the challenges of the new omni-channel marketplace and satisfy the expectations of consumers — before, during and after their purchase.
Healthcare
GS1 standards are today revolutionizing healthcare services, by ensuring exceptional care and maintaining patient safety through:
  • Preventing medication errors by ensuring that the right medicine is administered to the right patient, in the right dosage
  • Enabling product authentication by ensuring that individual packages, cases or pallets of medical supplies are properly marked (identified) and information regarding the same is shared between trading partners.
  • Tracking medical devices and products
  • Reducing time spent on paperwork and manual data processing, so that healthcare professionals will have more time and attention to devote to patients

Labels:

Comments

Post a Comment

Popular posts from this blog

Multi-Stakeholder Traceability System Ensuring Efficiency in Healthcare Supply Chain Management Amidst COVID Crisis

 The way COVID-19 impacted the world, altered every projection made by Deloitte or McKinsey for the Healthcare supply chain . While the world economy came to an almost halt due to the pandemic, the healthcare supply chain faced unprecedented challenges that are continuing to date. A spike in requirements for essentials medicines and personal protective equipment (PPE) appeared, while the major supplying country for the same dealt with controlling the pandemic. The sudden emergence of a novel virus infection without a cure created a dire need for a vaccine to save the patients. COVID-19 wasn’t a nation-wide tragedy, but a global disaster with no cure or preparations, and the chaos followed worldwide. Apart from the lack of essential medicines and PPEs kits, another major challenge for the healthcare industry is the invention of the COVID vaccine, followed by its distribution to the world. With the creation of the vaccine, its counterfeit products will appear in the market, adding de...
Post a Comment
Read more

DataKart: National Repository of Information on Indian Retailed Products

 Reaching out to customers with accurate product information has never been more competitive and difficult for retailers than today. This is majorly because of the ever increasing complexity of business processes with ever increasing consumer demands of more and more product information. As we move from single-channel retailing to multi-channel retailing, the need for better and efficient product data management has become critical. Listing new products as soon they are launched in the market is critical to ensure that they consumers don’t go back without making sales. This is directly proportional to a retailers/e-tailers’ ability to quickly receive and update information on new products from several suppliers and present it to retail shoppers as per the requirement of the retailing channel, ensuring seamless shopping experience.  However, in the real world scenario, most of this product information is compromised (and lost to some extent) in the process of receiving the sam...
Post a Comment
Read more

Unique Identification Standards: Key to avoid Counterfeit

As per the Global Brand Counterfeiting Report 2018, total value of counterfeiting globally has reached to 1.2 Trillion USD in 2017 and is heading towards 1.82 Trillion USD by 2020 including counterfeiting of all equipment/products. For Indian market, where online retailing is expected to account for 3% of the retail market size by 2020, according to a report by PwC, counterfeiting provides a major challenge. The annual loss to counterfeiting in India amounts to 1 trillion per annum. Counterfeit products pose 3 major threats: Consumer safety :  Typically, authentic products goes through various high quality control processes during the manufacturing and processing and are governed by safety laws which companies have to abide by. Loss of revenue for brands and government:  Counterfeit products impact the market share for authentic business and also reduces the revenues for both businesses, in terms of sales revenues, and the Government, in terms of taxes and duties. Investment...
Post a Comment
Read more