Research presented today at the NRF Big Show in New York highlights 2016 holiday findings from popular retailers.
The grocer will synchronize its product data with its suppliers’ data through the WorldWide Retail Exchange’s interoperability project, joining other retailers in working toward a global network designed for more accurate supply chain transactions.
Safeway Inc. plans to synchronize its product data with its suppliers’s data through the WorldWide Retail Exchange’s interoperability project, joining other retailers in working toward a worldwide network of synchronized trading partner data, the Global Data Synchronization Network. "Achieving global data synchronization will speed international adoption and lower costs across the entire supply chain," said Howard Befort, Safeway’s senior vice president, supply chain. "It will bring a new level of efficiency to Safeway, to our trading partners and the entire retail/CPG industry, and will ultimately benefit the consumer."
David Ching, Safeway’s CIO, said leading retailers and manufacturers have begun to reach a consensus on data synchronization. "We’re migrating quickly toward a seamless trading environment," he said.
Safeway will work with UCCnet, a unit of the non-profit Uniform Code Council that promotes data standards, to assure that its product data are properly synchronized. Data synchronization is designed to assure that retailers and their suppliers are using the same product codes and definitions, promoting accuracy in business documents and sales transactions.
"Inaccurate product information passed between trading partners not only results in costly invoice discrepancies and deductions, but also time-to-shelf delays, returned shipments and reduced sales force productivity," said Glenn DuBois, executive vice president and chief operating officer of UCCnet. "UCCnet’s global registry service will ensure accuracy of product, location, and trading partner information with participating retail customers. And together with data pools like the WWRE, we can improve trading relationships between partners and significantly reduce both supply-chain and selling costs."