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Whenever we see/purchase a product in the market, we generally don’t pay
attention, as consumers, to the barcode’s black & white lines printed on product
packaging. However, these lines of barcodes play critical roles for trading partners
involved in the supply chain including retailers, manufacturers, transport suppliers,
distributors, wholesalers, and at times for the end consumers, to effortlessly and
accurately identify products as they move through the supply chain network, and
fetch more information on them.
Also, as opposed to manual data entry, barcodes enable automatic data capture
with 100% accuracy.
Barcodes capture a 13-digital code called Global Trade Item Numbers (GTIN),
which is unique across the world. It is the most widely used ISO endorsed key,
maintained by a global supply chain standards organization – GS1, which is
headquartered in Brussels, Belgium and overseas operations in 114 countries.
With 2 million companies across the world using it, GS1 barcode numbers (GTINs)
have become a defacto retail standard for product identification.
GTINs are embedded in product barcodes by brand owners to list and sell them
with retailers and online marketplaces. Also, when used on product pages, GTINs
are known for getting the better visibility in Google searches.
Since GS1 barcode numbers (GTINs) are accepted by buyers all across the world,
on using brand owners comply with the requirements of internal buyers (in case of
exports), and regulatory requirements.
When it comes to retail, barcode numbers have various benefits attached to it. Its
use has brought speed and efficiency to retailers across the globe. Barcodes are
scanned at the retail point of sale to fetch information related to the product, which
is stored in the retailer’s system for billing, such as price, etc. With this, sale /
checkouts at retail outlets has become faster & quicker with the use of barcode
numbers.