Management Today - Spring 2016 - 4


mt // PROCESS IMPROVEMENT
Spring 2016

ACHIEVING

PROGRESS
TOGETHER

How industry collaboration drives cross-industry evolution.
- By Siobhan O'Bara
With a renewed emphasis on creating consumer-centric supply chains,
industry collaboration has become
essential to effectively move businesses
forward. Now is an exciting, yet tumultuous time across multiple industries,
where disruption is the new normal.
In the retail industry, for example, the
consumer now demands access to information and to make purchases whenever and wherever they want. The food
industry is focusing on the newfound
empowerment of consumers, who need
to know more about how their food is
processed, where it comes from and its
ingredients. In healthcare, patient safety
is increasingly bolstered by new regulations for identification and tracking of
drugs and medical devices.
Regardless of industry, companies
across all sectors share similar core
challenges. These challenges - ensuring
safety, access to information, efficiency - are non-differentiating topics
that represent major opportunities to
collaborate, so that companies can then
focus on what makes them competitively unique. To help them move forward in
achieving these goals, industry leaders
regularly join together through industry
initiatives, in collaboration with GS1
US, to agree upon best practices and

4

MANAGEMENTTODAY-MAGAZINE.COM SPRING 2016

standards. This work has been shown
to reduce supply chain redundancy,
streamline operations and improve
consumer experiences.
Another common thread among these
initiatives is data quality - more specifically, how to improve the state and governance of data to effectively harness it
for the increasing points of data use and
greater reliance on electronic data. The
most forward-thinking companies today
are viewing data as a strategic asset and
a powerful tool in today's marketplace.
Using a standardized approach, each
supply chain partner has the opportunity to efficiently bring their data to the
basic level of usability, clearing the way
for an improved focus on each company's "secret sauce." Let's take a look at
how standards work, and some examples of the way data is being leveraged
through standards-based collaboration.
Collaborating on Standards
Collaboration between stakeholders
is possible when a common language
of standards can enable supply chain
participants to understand and act on
information with agility and precision.
Organizations across more than 25 industries leverage the common language
of GS1 Standards - including various

types of barcodes and Electronic Product Code (EPC)-enabled radio frequency identification (RFID) technology.
The cornerstone of this system is the
Global Trade Item Number (or GTIN),
also known as a Universal Product
Code (U.P.C.). A GTIN uniquely identifies a trade item and can be encoded
into a barcode or an EPC-enabled
RFID tag to track individual items as
they move through the supply chain. It
is increasingly required for products
listed on popular e-commerce marketplaces, too.
Creating unique identification that does
not leverage interoperability can mean inconsistent data exchanges between trading partners. This can result in incorrect
and out-of-date product information in a
time when the consumer expects trustworthy information. Additionally, data
consistency is growing in importance, as a
product's lifecycle is almost never-ending
when you consider the ability to constantly buy and sell goods through e-commerce
marketplaces. Industry collaboration
through GS1 Standards helps trading
partners agree on scalable, repeatable
processes - leading to the complete and
accurate data needed to respond to growing consumer demands.
To gain a full picture of standards in
action, here are two examples in radically different industries that illustrate the
power of collaboration via standards.
Bridging the Gap
In retail, one of the biggest challenges for
trading partners has become effectively
bridging the gap between what customers can expect in a brick-and-mortar
setting, with what they can find online.
A unified sales approach, referred to
as omni-channel strategy, can include
innovative product fulfillment options
such as buy online/pick-up in store and
buy in store and ship to home - all of
which require consistent, accurate and


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Table of Contents for the Digital Edition of Management Today - Spring 2016

Contents
Management Today - Spring 2016 - Cover1
Management Today - Spring 2016 - Cover2
Management Today - Spring 2016 - 1
Management Today - Spring 2016 - Contents
Management Today - Spring 2016 - 3
Management Today - Spring 2016 - 4
Management Today - Spring 2016 - 5
Management Today - Spring 2016 - 6
Management Today - Spring 2016 - 7
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Management Today - Spring 2016 - Cover3
Management Today - Spring 2016 - Cover4
http://www.nxtbook.com/nxtbooks/knighthouse/mgt_2016spring
http://www.nxtbook.com/nxtbooks/phoenix/mgt_2016winter
http://www.nxtbook.com/nxtbooks/phoenix/mgt_2014fall
http://www.nxtbook.com/nxtbooks/phoenix/mgt_2012fall
http://www.nxtbook.com/nxtbooks/phoenix/mgt_2012summer
http://www.nxtbook.com/nxtbooks/phoenix/mgt_2012spring
http://www.nxtbook.com/nxtbooks/phoenix/mgt_2012winter
http://www.nxtbook.com/nxtbooks/phoenix/mgt_2011fall
http://www.nxtbook.com/nxtbooks/businessmedia/mgt_20110607
http://www.nxtbook.com/nxtbooks/businessmedia/mgt_2011summer
http://www.nxtbook.com/nxtbooks/businessmedia/mgt_2011spring
http://www.nxtbook.com/nxtbooks/businessmedia/mgt_2011winter
http://www.nxtbook.com/nxtbooks/businessmedia/mgt_2010fall
http://www.nxtbook.com/nxtbooks/businessmedia/mgt_2010summer
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