Financial Daily from THE HINDU group of publications
Tuesday, Apr 25, 2006
Financial Daily from THE HINDU group of publications Tuesday, Apr 25, 2006 |
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Marketing
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Retailing Industry & Economy - Standards & Benchmarks Top retailers gearing up to meet barcode deadline Our Bureau
New Delhi , April 24 Come July 1 this year, the country would witness top retailers to announce compliance to the GS1 barcode standards. This is a deadline for their suppliers to conform to the norms or face suspension of their services. Although a large segment of the organised players are already barcoding their products, a section of the suppliers are yet to adhere to the norms. Earlier this year, Retailers Association of India (RAI) members had passed a mandate titled Win-Win 2006, under which no supplies in the FMCG sector will be accepted without GS1 barcodes. According to Mr Ravi Mathur, Chief Executive Officer of GS1 India, "Already 75 per cent compliance level has been achieved on adoption of global GS1 barcodes by the FMCG sector. However, the industry is seeking hundred per cent compliance." The Government, on its end, has made available financial assistance to all categories of Small Scale Industries (SSI) units who have adopted the barcode norms. Such SSI units are eligible to get financial aid of Rs 15,000, which is 75 per cent of the registration fee of Rs 20,000 paid to GS1-India. Such initiatives, Mr Mathur said, "would provide SSI units a level playing field". Benefits of GS1 compliance include unambiguous and universal identification of products, consignments and entities, increased productivity through more efficient processes and faster response and lower cost though elimination of errors and savings in administrative and personnel costs among others. Mr K. Radhakrishnan, Vice-President - Merchandising of Spencer's, said: "Mandating of GS1 coding by retailers is a step towards taking Indian supply chain standards to international levels. We believe that we can reach around 80 per cent compliance level till we approach the deadline. We will also be undertaking initiatives such as road shows and other publicity measures to ensure great awareness and education to the suppliers of the benefits of GS1 coding." Meanwhile, GS1 is also extending its norms to other sectors including pharma, transport and logistics and defence commercial items.
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