Retail gets it easy

After the worldwide success of GS1 Global Registry model that has revolutionised the way retail operates in the West, it's time their Indian counterparts implement them into their business
GDSN

At times when technology is being slowly but surely being integrated into the retail sector in the country, involvement of international players for the same is imperative. After the worldwide success of GS1 Global Registry model that has revolutionised the way retail operates in the West, it’s time their Indian counterparts assess, realise and implement in order to eradicate the already burdening logistic support in their market. This technology will enable the retailers/wholesalers and suppliers to streamline operations, cut costs, and squeeze out productivity gains from already lean operations.

Defining the set-up

The Global Data Synchronization Network (GDSN) is an internet-based, interconnected network of interoperable data pools and a global registry known as the GS1 Global Registry that enables companies around the globe to exchange standardised and synchronised supply chain data with their trading partners using a standardised Global Product Classification. GDSN assures that data exchanged between trading partners is accurate and compliant with universally supported standards. GDSN consists of supplier/retailer trading partner, data pools that hold and process trading partner data and the GS1 Global Registry, a directory that helps locate data sources and keep relationships between trading partners in sync. The GS1 Global Data Synchronisation Network connects trading partners to the GS1 Global Registry® via a network of interoperable GDSN-certified data pools. Within this network, trade items are identified using a unique combination of the GS1 identification keys called Global Trade Item Numbers (GTIN) and Global Location Numbers (GLN). There are five simple steps that allow trading partners to synchronise item, location, and price data with each other:

Step1: Load Data: The seller registers product and company information in its data pool. Step2: Register Data: A small subset of this data is sent to the GS1 Global Registry. Step3: Request Subscription: The buyer, through its own data pool, subscribes to receive a seller's information.  Step4: Publish Data: The seller’s data pool publishes the requested information to the buyer’s data pool. Step5: Confirm and Inform: The buyer sends a confirmation to the seller via each company's data pool which informs the supplier of the action taken by the retailer using the information.

The need arises

Integrated, joint trading relationships are key to succeeding in today's global, hyper-competitive marketplace. By taking the steps to improve relationship with trading partners, companies place themselves in a better position to create sustained business value in the future. Synchronising accurate data presents an ideal process for driving improvements along the entire supply chain, leading to real business opportunities for both top as well as bottom-line results. When the data that is either being sent, or being received from your trading partners is reliable and is update, many other collaborative actions and new ways of working together are possible. Data synchronisation enables many innovative programmes that can help maximize marketing efforts, revolutionise promotions, and transform corporate management.

Rightly done

The GDSN has successfully highlighted that; Manufacturers and retailers who are internally aligned and focused on executing data synchronisation through the GDSN are seeing tangible results. It also assures significant process improvements, by eliminating unproductive processes and by improving the types and automation of some manual processes by way of:  Reduced shelf time of the products, reduced data management efforts, improved item administration, improved on-shelf availability.

Its success emphasises the advantages a customer will get in his business by embracing the Data Synchronisation initiative in its full form. GDSN adoption will lead the way to a paperless supply chain and thus reduce paper consumption by tons, will be a great environment friendly move. The cost for using the network is not high, what is needed is a forward looking approach and commitment from the top to make systemic improvements and help save the Environment too.

Indian Retailers will see their disadvantage once FDI is permitted in multi-brand retail and foreign retailers move in with efficient systems.

 

 

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