Trade, today, poses many challenges to retailers. Considering the large volumes of goods that they deal with, product authentication across the supply chain is a significant challenge for retailers and e-tailers. Supply chain efficiency is defined by real-time product visibility in the supply chain of product movements. Considering that trade today transcends national boundaries, they also need universally unique identification of products.
GTIN
One such solution is the Global Trade Item Number (GTIN), the most commonly used GS1 identification key. Used to uniquely identify products, the GTIN has relevance at all stages of the supply chain, including primary packaging (consumer unit), secondary (inner packing), and tertiary (carton/pallet), and more. Once a GTIN number has been delegated to a trade item by a business, it is permanently affixed to it across the globe, for all the business entities and trading partners, globally. This enables them to have a consistent identity in communicating information about the product worldwide.
GTIN is encoded in a barcode or an EPC/RFID tag; upon scanning it, professionals in the supply chain can efficiently and accurately process products and related information. It could be a sales employee at a billing counter in a store, a warehouse worker, or even someone administering the product in a hospital.
GTIN: An effective solution for your business woes
GTINs are foundational to achieve greater visibility of products, product traceability and transparency across the supply chain.
By embedding traceability across the supply chain, businesses can instantly know where their products are (in which stage of production as well as their geographical location). They can also effectively issue product recalls of harmful products and to communicate salient features (e.g. allergens, production methodology, etc.). For supply chain managers, traceability enables improvement in stock management and return flows, better expiry date and waste management, and better Product Life Cycle management.
GS1 GTIN also enables faster product listing on e-tailing platforms, i.e., easy selling through retailers. By using GS1’s GTINs, brand owners also get free access to GS1’s DataKart service, which helps them in sharing product information and product changes with retailers and e-tailers in real time . DataKart also populates product information in the Smart Consumer App to make it accessible to consumers.
Further, Google studies have shown that compliance with GTINs enhances online search results for a product by 40%.
Breaking into the major retail chains to sell products and grow business is something many product manufacturers aspire for. Bringing products into the retail sector through modern trade retailers can be a fantastic strategy for business growth. It helps to boost product revenue, build brand awareness and improve the kind of network connections you need to successfully grow a wholesale distribution business. It also does wonders for the health of your business as a whole. However, it is also very difficult to introduce new products in retail shops, as retail chains have limited space to fit new products in their retail stores. But with some basic principles, you can pave your way into getting your products into your targeted retail store, which help you reach out to the right audience and enhance your business. We have carved out some basic steps on how you can easily and strategically connect with big retail chains to sell your products Let’s Start… Step 1 — The first step is to...
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