In today’s globalized economy, access to reliable and up-to-date product information is becoming increasingly crucial. GS1 helps to make this product data reliable. It provides global standards and systems that ensure the accuracy, consistency and transparency of data. These systems include barcodes, the Global Data Synchronization Network (GDSN) and the Real Time Data Exchange with Verified by GS1. The latter is also available to our customers in the mytracekey software.

With the Real Time Data Exchange, GS1 offers an innovative solution for verifying and exchanging product, company, and location information quickly and accurately. We explain how it works and what advantages it has.

What is GS1?

GS1 is an international non-profit organization. It develops and manages global standards for the identification, collection, and sharing of data. These standards improve efficiency, security, and transparency in the supply chains of many industries. GS1’s best-known standards include the Global Trade Item Number (GTIN), the Global Location Number (GLN), and the GS1-128 barcode.

The non-profit organization works with companies and organizations worldwide to promote the implementation of these standards. The aim is to ensure interoperability between different systems. They include ERP and point of sale systems as well as e-commerce platforms. By using GS1 standards, companies can optimize their processes, reduce costs and thus increase customer satisfaction.

How does the Real Time Data Exchange with Verified by GS1 work?

The Real Time Data Exchange uses a central, cloud-based database, the GS1 Registry. At the time of the query, the stored information is retrieved from it. Here are the main steps of the process:

1. Data provision: Manufacturers record their product, company and location data in the GS1 Registry. This data includes important attributes such as the Global Trade Item Number (GTIN), product description, and product name.
2. Data verification: The data provided is checked to ensure it is correct and up to date. This is done by comparing it with the official GS1 databases.
3. Data query: Business partners, retailers and other authorized users can query this data in real time. Web services enable this fast and efficient data transfer.
4. Use of the data: The queried data can be integrated into users’ own systems to optimize processes such as orders, deliveries and invoicing.

Advantages of Verified by GS1

The Real Time Data Exchange also brings benefits:

• Accurate product information: Improve the customer experience and reduce counterfeiting. This is achieved by providing a reliable source of product information.
• Accurate company information: Ensure that company details are accurate, increasing trust across the ecosystem.
• Accurate location information: Contributes to supply chain transparency and supports traceability and compliance. Inventory items, orders, and deliveries are managed more efficiently. This can save costs.

Verification of data creates additional opportunities. With Verified by GS1, companies can meet legal requirements and industry standards. The accurate and up-to-date recording of product data facilitates traceability and helps to comply with the regulations of numerous industries.

Advantages of the mytracekey software

Thanks to our long-standing partnership with GS1, we were able to implement the Real Time Data Exchange in our mytracekey software. With Verified by GS1, users can enter company information in no time at all. Instead of time-consuming searching for the missing information, all they need to do is enter the company name. All other important details are filled in automatically and without errors. Business partner onboarding is also greatly simplified in our software, thanks to the Real Time Data Exchange. As GS1 and tracekey are constantly evolving, we will continue to use their services in the future to increase the user-friendliness of our solutions.