A new Retail Grocery Initiative facilitated by GS1 US aims to address industry challenges with broad adoption and implementation of GS1 Standards, the most widely used supply chain standards in the world. Uniting suppliers, manufacturers, distributors, wholesalers, retailers, solution providers and industry associations, the GS1 US Retail Grocery Initiative gathered industry stakeholders for its inaugural meeting during the GS1 Connect 2014 conference.
The GS1 US Retail Grocery Initiative serves to facilitate collaboration across industry to address high-priority supply chain and regulatory challenges impacting the entire industry. During the initial meeting, more than 150 industry stakeholders gathered and identified high priority topics impacting their businesses that could be addressed by the Initiative, including alignment on product information for business and consumer use, standardized usage of images and adherence to regulations from the Food Safety Modernization Act (FSMA), among others. Industry stakeholders will continue to finalize Initiative goals and objectives in the coming months, say GS1 US officials.
“The GS1 US Retail Grocery Initiative helps industry address the issues impacting their businesses now and for many years ahead,” says Angela Fernandez, vice president of retail grocery and foodservice, GS1 US. “Through a formal Initiative, members have the opportunity to provide their thought leadership and expertise to shape the future of the industry and to address a few critical industry issues to drive solutions faster, better and more efficiently, enabling broad industry adoption.”
Collaboration has taken center stage as companies realize that profitable growth can result by effectively leveraging the combined strength of their trading partner network, industry observers say. A study by the Boston Consulting Group and the Grocery Manufacturers Association says business-to-business collaboration is a major source of untapped value in the food industry, worth up to $21 billion industry-wide. The GS1 US Retail Grocery Initiative will identify emerging industry challenges and facilitate collaboration to develop best practices for utilizing GS1 Standards to address key issues and drive supply chain efficiencies, creating a more powerful, singular approach by the industry.