There are 1,100 GS1/GDSN standard product attributes. But don’t quote me on this. That’s because the count is approximate, and growing. More importantly, the 1,100 calculation requires several scoping and definitional qualifiers.
A GS1/GDSN standard product attribute can be defined as a product item attribute that has been “approved” and “modeled.” “Approved” means the attribute has been approved by industry through the GS1 Global Standards Management Process (GSMP). “Modeled” means that the GS1 Global Office has developed the formatting structure, data type and defined valid values, if applicable, for the attribute. Some attributes have been approved, but not yet modeled or published in the GS1 Global Data Dictionary.
In today’s fast pace business environment, technology challenges are increasing due to the ability to connect large numbers of trading partners around the world with accurate, authentic, timely data. With ever changing customer requirements companies have been forced over the last decade to become more dynamic and support the shift in supply chain architecture from manual to IT cloud based solutions.
Reliance on the one-to-any connection requirements is difficult for both the data source and data recipient. If they can’t connect virtually with all trading partners, then product information and reporting can be unusable and lost, impacting sales, brand integrity and compliance.
I think it is fair to say that commerce has always been a very social activity. Marketplaces have been a gathering place for people for thousands of years and word of mouth has always been a huge influence on what people buy. But as more and more people engage in social networking activities and platforms (1.3 billion people use Facebook every month), there is a new opportunity to provide commerce as part of people’s interactions in social networking activity.
Throughout time, grandiose aspirations have seemingly convoluted processes and procedures. What exactly do I mean by this? The Foodservice Industry has been struggling with this balancing act for a number of years now. The balance between reaching an Ultimate Goal vs. Ability to Execute towards that goal. That balancing act has never been more tested than with the concept of Data Quality. On a daily basis, I’m constantly having conversations with some of the largest Foodservice manufacturers and they all have the same aspirations around Data Quality: be Complete (be seen as 100% “phase 2” attribute requirements across their entire product offerings) and Accurate (provide the most accurate product information as possible).
E-commerce as a sales channel for the retail industry continues to grow. Currently, e-commerce accounts for about 6% of overall retail sales, and about 11% of the top 30 product categories, according to Forrester. The growth rate of e-commerce sales is currently estimated around 15% annually, much higher than that of traditional in store sales.
But, with that said, many look at that one metric, e-commerce sales and can be mislead because it is relatively small at 6%. So even with good growth, it will remain a very small, niche “channel” in the minds of many retailers.
1WorldSync had the great pleasure of attending the Annual AHRMM Conference August 3-6, 2014. There was a lot of valuable information shared, but above all, it was clear that the Healthcare Industry is well on its way to realizing the benefits of GS1 Standards and eventually, the GDSN.
International trading has always played an important role in Asian countries. In a practical business, it takes a lot of effort to get customers’ orders shipped out; however, it is even more challenging on the back-end of production. There’s potential risk which can cause continuous logistical errors. Product information errors cause a domino effect of errors resulting in invoicing and sizing errors…just to name a few. All of which result in a decrease of profits.
As a PIM Practice Lead in 1WorldSync’s Professional Services organization, I have over a decade of experience in supply chain technology. I’m a seasoned expert in data synchronization and advise clients regularly on GS1 Standards and GDSN, while leveraging 1WorldSync’s solutions and partners to meet the ever-growing product information demands of businesses. Continue reading →
Now, more than ever, global supply chains are under pressure to be agile and transparent, in the face of renewed consumer demand and the massive rise of Omni-channel commerce. In today’s digital world, your product information is one of your most valuable assets. Before your customers and trading partners ever see the physical product, they will have access to the digital information representing it. With the explosion of product information in the marketplace, the demand for quality, accurate product data has grown exponentially.
One of my favorite events at 1WorldSync is the Annual Congress in Cologne, Germany. Last year, I was impressed by the variety of topics and in-depth individual sessions. Annual Congress provides insights on how having accurate product information can open many doors for your company.
1WorldSync’s Annual Congress which will be held on September 30 – October 1, 2014 provides a platform to inform, share and listen to customers and partners and provide holistic answers to questions that arise from increasing industry challenges. It’s an exciting two days of collaboration, so get ready! Continue reading →