The importance of product data accuracy and completeness
A key component of the Product Data Coalition of Action are our member driven projects. By collaborating on digital connectivity, our projects will enable the industry to grow consumer trust at a time when societal trends and digital media are fuelling demand for greater transparency. It will also simplify product listing processes and reduce time-to market.
Our members are at the core of these efforts, and, as a member, your role can be integral in helping to define the future of our industry. Would you like to say in 10 years’ time that your company had a say in how the business requirements for a new product identifier were identified? Would you be proud if your company was behind the reason consumers now trust companies more than ever? If yes, our projects are the place to be.
This project aims to ensure that all physical products have a unique digital identifier. While the penetration of valid GTINs is high for branded Consumers Packaged Goods (CPG) and most core grocery categories in store, it is much lower in more peripheral categories, across SME suppliers and in online marketplaces. Some of the activities that increase GTIN penetration include:
This project involves uploading seven data attributes for each product to a central repository to ensure that every product in the world (past, present and future) has a unique GTIN, allocated per the rules and guidelines of GS1, that can be authenticated and validated by trading partners. The uploads are being executed via GS1 in a coordinated geographical sequence of target markets and categories and monitored via a regularly updated Dashboard allowing each participating company to track progress compared to others and against the main targets set.
This project defines a globally consistent set of mandatory product attributes that are needed by all retailers to list, order, store, move and sell products. This will reduce misunderstandings over what data are exchanged via which field – a significant cause of data quality issues and inefficiencies today.
More than 50% of CGF Data Coalition members are planning to implement the Global Data Model across 8 countries in 2020. GDM for Food & Near Food (incl. Pet food, alc.bev. and tobacco) have been submitted into GSMP for ratification.
This project aims to build a related catalogue of global business validation rules.
Managing and sharing product information across the entire value chain is still a fundamental challenge for the consumer goods and retail industry. The Board of The Consumer Good Forum (CGF) acknowledges the need to move urgently and at scale beyond current industry and organisational paradigms to drive a step-change forward via the Product Data Coalition of Action.
The potential value of data-sharing via DataPorts goes well beyond just the use-cases of product master-data sharing. For example, DataPorts are envisioned to enable a whole spectrum of data to be shared directly between large numbers of value chain partners, like forecasting data, transactional data, event data and sensor data.