APEC pilots demonstrate that GS1 standards enhance traceability and reduce costs in cross-border trade.
GS1, the global supply chain standards organisation, welcomes the recent publication by the Asia-Pacific Economic Cooperation’s Committee on Trade and Investment of Phase 2 of their Study on the Application of Global Data Standards for Supply Chain Connectivity.
The two-phased study was based on five real-world pilot projects. It examined whether the application of GS1 standards could improve the visibility and efficiency of the supply chain in-cross border trade. The results were clear. The study found that:
- the use of GS1 standards is relevant for all major actors across the supply chain: exporters, third party logistics providers, customs and border agencies and importers;
- the use of GS1 standards can improve visibility, traceability, risk management, responsiveness, collaboration and innovation.
Results included noticeably expediting the port clearance process for wine exports from Australia to Hong Kong; increasing visibility from 43% to 93% for beef exports from Australia to the US; reducing by 98% the time spent tracking durian exports from Malaysia to China; saving 30% in border processing time for tequila exports from Mexico to the US; and achieving 100% visibility into the asparagus supply chain from Peru to the US.
GS1 standards helped pilot participants achieve these results by providing a common language to identify, capture and share supply chain data with all stakeholders along the supply chain, via the use of GS1 barcodes and GS1 EPC/RFID (radio frequency identification) data capture standards, as well as the GS1 EPCIS data sharing standard. GS1 standards act as a common platform to ensure smooth information exchange—which is especially important today, as border processes and transactions are becoming increasingly electronic.
Miguel Lopera, President and Chief Executive Officer of GS1, stated: “This report reveals tangible examples of how APEC’s important work to promote more efficient cross-border supply chains can be enhanced by the use of GS1 standards. With GS1 Member Organisations present and active in 20 of the 21 APEC member economies, we are well placed to contribute to APEC’s efforts to support sustainable economic growth and prosperity in the Asia-Pacific region.”
Download the complete Study on the Application of Global Data Standards for Supply Chain Connectivity (Phase 2).
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GS1 is a neutral, not-for-profit organisation that develops and maintains the most widely used global standards for efficient business communication. We are best known for the barcode, named by the BBC as one of “the 50 things that made the world economy”. GS1 standards improve the efficiency, safety and visibility of supply chains across physical and digital channels in 25 sectors. Our scale and reach – local Member Organisations in 112 countries, 1.5 million user companies and 6 billion transactions every day – help ensure that GS1 standards create a common language that supports systems and processes across the globe.