An international non-profit organisation, GS1 is responsible for the implementation of global standards across supply and demand chains. For the international business world, from large multinationals to individual craftsmen, GS1 plays an important role in making trade more efficient and cost effective.
How GS1 helps businesses
When it comes to products, the manufacture of parts and services, there are different standards around the world. GS1 standards allow companies to efficiently do business despite these differences. By creating a global standard where certain information needs to be provided to buyers, businesses can ensure they are getting what they wanted and that it applies to local legal requirements. GS1 is also responsible for key ways to make the sharing of such information easier. The barcode is one of the tools they introduced and which is standardised around the planet. By scanning a barcode a business can automatically identify a product, its location of origin, price and more. It also improves the traceability of products, which is very important in the trade industry. Around the world, 5 billion barcodes are read daily – showing just how integral the tool has become to businesses.
GS1net: The data synchronisation solution
GS1 introduced GS1net as another way to make information sharing simpler between suppliers and buyers. It acts as a data synchronisation solution where a business is able to provide trade item information that is then shared with their global trading partners. A company involved in the supply chain can easily find product information such as pricing or batch quantities with the technology. It means businesses can get data right, and avoid and resolve common problems like invoice discrepancies, incorrect orders, becoming out-of-stock or the high cost of transportation. Because the technology is created under the GS1 banner, you can expect global standards to be in practice.
GS1net and Bizcaps software
Our software for businesses in the supply and demand chain includes integration with GS1net as one of its key features. For example, our Bizcaps Enterprise software enables a business to publish their product information onto the GS1net. Much of our business management software is certified by GS1, and we were the first business in Australia to receive this certification for a software product.