Streamlining product information with GDSN
As brands extend their products to a global market, supply chain management has become more complex than ever before.
Brands sell their products to several retailers and distributors across the globe. Each retailer/distributor receives products from multiple manufacturers. Hassle-free shipment and timely delivery of these products hinge on precise supply chain information.
In addition to this, maintaining complete transparency about the product has become a vital aspect of business operations today. Retailers, distributors, and consumers demand detailed information about the product. A report by World Sync indicates that 81% of buyers are willing to switch to a brand that provides more details about the product on their product page.
There are disparate data points that need to be managed to ensure that a product reaches the end user seamlessly from the manufacturer. Data points like storage and movement of products, delivery data, legal data related to compliance, certifications, and more. The process becomes complicated because multiple data points need to be managed for individual products that are received from different manufacturers.
GDSN or Global Data Synchronisation Network!
GDSN constitutes a system of interconnected and interoperable data repositories that are accessible to various stakeholders. It is related to product data and supply chain management, supporting the standardisation and synchronisation of product data.
GDSN makes data management accurate, efficient, fast, and transparent.
How does GDSN work?
Standardised product information is stored and consistently refreshed within a network of data repositories. GDSN facilitates the connection of trading partners through this network, guaranteeing real-time, synchronised, and precise data exchange throughout the supply chain.
The synchronisation of product data across brands and retailers facilitates a hassle-free movement of goods across a global supply chain.
While discussing the intricacies of GDSN, it is relevant to understand GS1 as well.
What is GS1?
GS1 is a non-profit entity dedicated to establishing worldwide product identification and communication guidelines. The GDSN network enables the exchange of standardised product information, in accordance with GS1 standards, among diverse trading partners within the supply chain.
GDSN offers benefits such as enhanced efficiencies, high speed, faster sales growth, and most importantly happy customers! A GDSN service provider can ensure that your business experiences these benefits and more!
Here’s an example of how GDSN services overcame the challenges faced by a global leader in the snacking industry and enhanced efficacy!
The company needed GDSN services to streamline the exchange of standard product master data with its trading partners. They had their largest markets in 25 countries. Hence, product data had to be exchanged through multiple networks, each with its own intricacies.
Issues with the existing systems:
There was a mismatch of attributes and values between the GDSN service provider and the GS1 data pool.
Master data was highly complicated since it had data flowing in from multiple sources.
Master Data was not compliant with GS1 standards in completeness and quality.
The company catered to different markets across the globe. Hence, exceptions to global GS1 standards were required to comply with regional exceptions in different local markets.
How did GDSN services resolve these issues?
The GDSN service provider created a single reporting tool that consolidated different product tracking reports. A GDSN report was created through advanced software to compare data from multiple sources for completeness and correctness. This eliminated instances of inaccurate or repeated entries.
Standardised checklists were introduced according to specific target markets ensuring compliance with local standards. Specific processes were established for newly introduced markets.
The stakeholders could view real-time analytics of the published scope on an automated reporting deck or the GDSN quality dashboard.
In a nutshell, the GDSN service provider created a central repository of data. This facilitated a standardised exchange of product master data with trading partners. The exchange was accurate, fast, and seamless. These aspects enhanced the efficiency of the supply chain and the client could successfully cater to its clients in 25 target countries and scale its business.
GDSN has become a critical component in modern commerce. It enables the smooth exchange of data among trading partners through the use of interconnected data repositories. It is being widely adopted by businesses across the globe because it drives business efficiency, enhances customer experience and ultimately contributes to the organisation’s bottom line.