GS1 Report Essay Example | Topics and Well Written Essays - 2000 words

GS1 Report - Essay Example Currently, GS1 is the most widely used global supply chain standards system, through it, any organization irrespective of size or geo-relocation can order, trace, deliver and pay for goods along the supply chain. One of the primary techniques used to streamline the supply chain from the raw materials to the manufacturing stage is the use of barcodes; they play a central role in GS1’s functionality. They are a global standard language and they transcend language barriers which have retrospectively posed a serious challenge to the globalization of trade (Crichton 2008). Since their introduction by GS1 as part of the global standardization process, the speed and accuracy of transactions have significantly improved. For the last three decades, GS1 has delivered enterprise solutions and simplified execution of global standards for use in local and transnational supply chains. The chief purpose of GS1 standards is the provision of a structure that facilitates express and operative m ovement of, goods, service and corresponding information. The formation of GS1 was occasioned by a merger between the Uniform Code Council (UCC) and the European Article Numbering (EAN International) in a 1990 cooperative agreement in which they agreed to formally co-manage global standards. The organization has extensive latitude and it governs a global notational membership of over 100 encompassing millions in the 24 industrial sectors. It is highly dynamic and has maintained an exponential growth rate primarily because of its profit reinvestment strategy; all the extra revenues generated by its activities are channeled back to further develop the organization. Supply Chain Management A well designed supply chain is crucial in the quest to expedite day to day business operations so as to reduce the complexity of trade between organizations both locally and internationally. To this end, it is essential that business maintain a set of universal standards, which makes for easier deci sion making in terms of which hardware, software or services need to be purchased or used. Furthermore, universal standards ensure collaboration between traders throughout the supply chain such that identification and sharing of items as well as calculations of quantities across the board can be smoothened. In the long run, this benefit all the stakeholders since goods become easily available and accessible and service provision is more efficient; for instance, in the medical field, errors are reduced and patient safety enhanced. GS1 also plays a key role in combating counterfeit products since it facilitates global traceability and authentication. Relative to the principle of Global Standard, GS1 keeps four global trading products namely; Barcodes, Electronic Business Messaging (eCom), Global Data Synchronization Network (GDSN) and EPC global. They also provide services such as; Customer Service, Education and Training and Barcode Testing (Moore 2009). In lieu with the new technolo gical development that have been integrated into the business environment, information supply and authentication of data is made easier through the Go scan app that allow users to scan a products barcode and access the product data online. The Shoe Size