Inconsistencies in data and inefficiencies in the supply chain can be huge problems for any company. The costs of these errors can build up to a point of disaster. It’s important to have safeguards and quality technology to prevent such issues.
Data synchronization is one of those safeguards. It’s essential to streamlining your business and ensuring the quality of your goods. The Global Data Synchronization Network (GDSN) provides you with access to real-time information on your merchandise.
This is a huge advancement in the shipment industry, and we’ll explain why it could be valuable to you.
The Value of Data Synchronization
The GDSN is an end-to-end system that keeps accurate product data. This description makes the process seem simple, but a lot of work has gone into ensuring the success of the GDSN.
It all starts with trading partners using a consistent system of classifying their product. All descriptions and measurements must be common to one another, and in that way, they become standardized. Data on all product is recorded and uploaded into the system.
Every time the product reaches a new stop, data is updated and put into the system. Even if the information hasn’t changed, you will know the real-time status of your product. You are also ensured that the relationship between your items (how they fit into the case or pallet) will be well known to you.
All data is run against industry standards and business regulations to ensure that everything is in check. This is a safeguard against malpractice along the supply chain, ensuring that your product is safe.
How Can the GDSN Help You?
There are a number of collaborative supply systems that allow you to track your product. While most of these systems work well and provide a great service, the GDSN is different. Information about your product’s whereabouts is just as important as information about your product’s quality.
The GDSN gives you both of those things. You’re able to know where the item is as well as how it is.
This knowledge is essential in the modern age. Not only do shipping methods need to be streamlined and improved, but products have more attributes than they did before. This means new product introduction and the increased importance of little details.
Little shipping errors or damages had less of an effect when there were fewer attributes to the product. The small differences in many products are the reason why they’re desirable. The importance of product attributes varies among industries, but it generally holds that markets are getting more specific.
It’s essential to document all of these differences and have a grasp of how they are doing in real-time. If the package of modifications is lost, the whole shipment may be irrelevant to you.
The most important benefit of the system is the reliability it brings to the supply chain. When all information is in check, people are more likely to adhere to standards and regulations. It’s also an incentive for the supply chain to work at a quicker rate.
The GDSN provides the peace of mind that comes from seeing real-time product information. You are ensured of the product’s adherence to health regulations and business standards, and there’s no guessing game as to where it is at any given time.
The Financial Advantage
Say you’re having a pallet of footballs shipped to you from across the globe. You have your finances mapped out and are depending on this shipment to come in. You’ve got the expectation that the footballs will be on time and in good shape.
Your finances depend on the data that you have – that your shipment is on time and in shape. But what happens if half of the balls pop or have some kind of damage? Additionally, what if the supply chain presents you with an unusual fee or tax that will travel down the line?
Any misstep in the chain will become clear to you when the product arrives. With a typical system, you would only see that your shipment was on the right track to get to you. You wouldn’t see the specifics about the product and how that information will affect your finances.
Real-time data will allow you to make fast changes and alert suppliers that you’ll need more products.
A Few Key Elements
The nice thing about the GDSN is the scope and consistency of the system. All information is thrown into a global pool of data. All data must be consistent with the standards of the system so that everyone can understand it.
The system operates through the GS1 Global Registry, which acts as a data hub. This is the area where you can locate any item or product that you need to. The data that is gathered in the supply chain is entered and sent to the relevant data pool in the GS1.
Before the data enters the GS1, it ‘s validated and run against the industry standards and regulations. This step in the chain makes sure that businesses are acting ethically. It provides a fantastic safeguard against internal criminal activity.
It also ensures that every company that inputs data is using the same standards and units of measurement. It’s vital that there is consistency throughout the entire process.
Control Your Data Management
Keeping a handle on your data is the key to running a tight ship. This means that you have to place more emphasis on data synchronization if you feel out of control.
It’s understandable to make mistakes because the market is changing as fast as the technology is, but there are things you can do to ensure that you’re in the know. The first thing to do is get informed on modern data management.
If that doesn’t seem to work, you might consider talking to a professional about improving your business’ data management. Contact us today to find out more!