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| Thought Paper |
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Global Data Synchronization: A Foundation Block for Realizing RFID Potential |
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| Abstract |
Markets have become increasingly global, fast-paced, and consumers are more
selective than ever. For retailers and consumer packaged goods manufacturers in particular, one result of this reality is that there is tremendous pressure to operate as efficiently and responsively as possible, while minimizing inventory and operational costs. Incorrect or outdated data used in invoice pricing or purchase orders can result in product delivery errors and lost sales-problems that have been estimated to cost the industry more than $50 billion annually.
The synchronization of master data-the information that uniquely describes a product or service to be exchanged- among trading partners is fundamental to building collaborative commercial relationships among retailers, manufacturers, and other supply chain participants.
This Paper seeks to underline the importance of a global standards-based data synchronization model, for successful strategic initiatives like EPC/RFID, thus enabling the vision of seamless, highly responsive supply chain. It is targeted to CIOs and Business and IT Managers of retail and consumer packaged goods organizations that are weighing the benefits, costs, and risks associated with strategic collaborative initiatives like RFID.
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