Product data includes details related to the product’s manufacturing process, expiration date, usage instructions, storage conditions, nutritional information, etc. This data is printed on the product’s package and can be accessed by scanning the product’s barcode or entering its GTIN (Global Trade Item Number) in the Smart Consumer App. Accurate product data is crucial in empowering every stakeholder in the product’s supply chain process, making it paramount to ensure its quality and precision. In this blog, you will uncover why Product Data Quality plays an important role and understand its benefits. Readers will also understand how GS1 standards help businesses maintain product data quality, accuracy, and consistency throughout the product’s journey, from production to consumption.
In recent years, the retail industry has transitioned from business-centric to customer-centric. With this shift, there has been a persistent focus on the availability of authentic and accurate information about products. Industries are equally harnessing technological advancements to ensure product information transparency and avoid data gaps. This is necessary for two main reasons –
In addition, reasons such as regulatory demands, standardisation in global trade, traceability, and boosting operational efficiency further act as a catalyst in promoting the importance of product data quality. Let’s understand each of them in a little detail –
1. Regulatory Demands – To ensure compliance with regulatory demands, companies need to provide necessary and updated product information. This helps them conform to regulations and avoid hefty fines or penalties.
2. Global Supply Chain Standardisation – Products to be sold in international markets need to follow global standards of supply chain, including high-quality product data.
3. Traceability – With increased cases of adulterated and counterfeit products in the market, it has become necessary to implement an efficient track and trace mechanism. This traceability ensures the product travels fairly and transparently.
4. Operational Efficiency – With accurate product data, businesses can streamline their processes, improve inventory management and order fulfilment, and reduce errors caused due to data discrepancies.
High-quality product data refers to information on products that is complete, accurate, and available to all, in real-time. When businesses share high-quality product data with all supply chain stakeholders, they build trust and foster transparency throughout. Here are a few more reasons for having high-quality product data –
1. Customer Experience – When customers get authentic information on products, it increases the brand’s credibility. Through applications like the Smart Consumer app, customers can gain access to accurate product information like nutritional information, manufacturing details, expiry date, etc., and make an informed decision. This ultimately increases customer satisfaction and strengthens consumer trust in brands.
2. Healthy Business Relationships – By providing transparent and complete product data, businesses ensure healthy business relationships with different stakeholders. This fosters cooperation between various retailers, e-tailers, government bodies, and regulators.
3. Omni-channel Integration – High-quality product data enables effortless integration across different sales channels, including online marketplaces and offline stores, ensuring a consistent customer experience across all platforms.
GS1 India has ‘890’ as its country code, which is why every authorised barcode in India starts with ‘890’. Company code is the unique identification number of a company allotted by a GS1 member organisation. Country code and company code together form the Global Company Prefix (GCP), which can be used to log into DataKart and generate GTINs for products.
To understand the whole process of GTIN creation, read this blog titled - https://www.gs1india.org/blog/gtin-registration-requirements/
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