GS1 recently examined over a million records from four major supermarkets in the UK as well as from Nestle, Unilever, Proctor & Gamble and Mars and you’ll never guess what they found. Here is their very compelling finding about data inconsistencies GS1 believes will cost UK grocery retailers £1 billion over the next five years if something isn’t done to fix the problem:
The “Data Crunch” report from supply chain standards body GS1 compared the product data held by suppliers stored on supermarket systems, finding there were inconsistencies in what should have been identical information in 80 per cent of cases.
GS1′s report, as detailed here in this news item, concludes that adoption of Global Data Synchronisation (GDS) solutions would solve the issue. While the article doesn’t provide much detail about the GS1 Global Data Synchronization Network (GSDN), here’s the organization’s landing page for this topic. In brief, as they explain it: With GDSN, trading partners always have the latest information in their systems, and any changes made to one company’s database are automatically and immediately provided to all of the other companies who do business with them.