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It is faster and more efficient to complete tasks when a common set of standards is used. GS1 has defined ways to store and transfer data since 1974. This allows organizations to exchange information quickly. The result is that these standards have become the backbone for some of the world’s largest industries, saving time and money through reduced administration and paperwork.
Correct product identification is crucial for selling products through traditional retailers and online marketplaces. Buy GS1 compliant barcodes that are prime examples of how standardized global identifiers enable products to be sold, reordered, and tracked throughout complex supply chains.
The identification system has grown in sophistication over the last few years, and the information within the system has expanded beyond tracking products and manufacturers. Now it can identify locations within the supply chain and record events such as transfers, transformations, and combinations, all of which are important to manufacturers and consumers alike.
The following are three top benefits of adopting GS1 standards for your organization.
The GS1 standards have improved in ways that allow communication to go even further back in the supply chain. This enables businesses to communicate within their supply chains in a standardized manner without renegotiating communication and tracking methods each time a new supplier or customer joins. As an example, in the grocery industry, this means enabling traceability through the entire supply chain and achieving farm to table.
It is a costly process for both your organization and a new supplier every time you begin to work together if you have not leveraged GS1 standards. The two teams have to align on how they will track and record product data throughout the supply chain. When these standards are implemented, you will know exactly what needs to be tracked and how to do it correctly, resulting in greater accuracy and efficiency.
Traceability and transparency are crucial to the supply chain. Organizations have insight into every location their products stop along the supply chain with GS1 standards. Product safety is ensured with this tracking.
Consider product recalls, for example. Transparency and traceability throughout the entire supply chain give you immediate access to the data necessary to determine their location, at any point in the supply chain, if you need to recall a product. It is critical to protect consumers and get tainted products off the market through the use of these standards.
If tracking and data collection weren’t properly set up without GS1 standards, you may not have true transparency into your supply chain. The delay in recalling impacted goods can put consumers at unnecessary risk.
It is important for organizations to ensure that they can meet customer demands. Where can you find suppliers who can deliver the products necessary to meet these demands?
GS1 standards allow organizations to work with their suppliers to better understand their supply chains. You have the option of working with another supplier in the interim if you know your supplier can’t meet demand for a specific product. This method protects your organization from a slowdown in your supply chain and ensures you keep your customers satisfied by ensuring their products arrive on time.
Recent changes have resulted in this identification system becoming more sophisticated, and the information contained within the system has expanded to include tracking transactions other than products and manufacturers. It can now identify supply chain locations and record events such as transfers, transformations, and combinations, which are important to both manufacturers and consumers.