SpecPage is a 2024 Representative Vendor in latest Gartner® research. Download the Report
Resource conservation and sustainability are key issues in the food industry. The targeted use of specification data reduces waste, cuts costs, and promotes sustainable production and distribution processes.
Resource conservation and sustainability are pressing concerns for all companies, particularly in the food industry, driving an urgent need for innovative solutions to minimize waste. For example, a lot of food is discarded by farmers or retailers because it fails to meet standards, even though it is still fit for consumption. Another typical problem is when goods that are not yet sold either shortly before or on their best-before date end up being discarded. Long transport routes can also increase the amount of waste.
One effective method is to make targeted use of specification data to ensure precise and efficient processes along the entire supply chain. The GDSN Guide from SpecPage is a tried-and-tested tool for that: It provides the market with standardized product data via the Global Data Synchronization Network (GDSN).
The global network is connected to over 30 certified data pools and 35,000 companies. It enables standardized article master data to be exchanged and synchronized between trading partners within the supply chain. The data complies with the globally applicable GS1 standards.
The targeted use of specification data has numerous advantages that can help reduce waste in various areas. One of the biggest advantages is the precise inventory management. Companies can better predict demand and reduce excess stock thanks to accurate and up-to-date product data. Optimizing inventory management through accurate data enables efficient stock management and minimizes the risk of spoilage and waste. That leads to considerable cost savings and contributes to sustainability.
Efficient supply chains are another advantage of using specification data. Accurate and synchronized data shortens product lead times, thus reducing storage times and the risk of expired products. That enables improved logistics planning, which optimizes transport routes and times, hence leading to more efficient and sustainable logistics. As a result of these improvements, companies can cut costs and reduce their ecological footprint.
Another important aspect is the traceability of products. The GDSN enables accurate and fast tracking of products in the event of safety issues, in order to reduce unnecessary recalls and waste. Thanks to complete and transparent data, all the parties in the supply chain can work together efficiently to maintain standards and boost consumer confidence.
Reducing packaging material is another area in which specification data can play an important role. More accurate product data enables optimized packaging to minimize material consumption and the ecological footprint. Companies can use data to identify and use more sustainable packaging materials. That benefits the environment and meets consumer demands for more sustainable products.
Avoiding food waste is a key concern in the food industry and retail sector. The precise management of expiry dates helps sell products in good time, also thanks to the 30 percent discounts now established in retail shortly before the best-before date. Timely donations to food banks are also one of the strategies for avoiding waste. In addition, manufacturers can better adapt their production to actual demand thanks to accurate demand forecasts.
Using GDSN also promotes better collaboration and communication within the supply chain. The network provides a unified platform for exchanging data, which improves collaboration and communication between the players in the supply chain, and it reduces inefficient practices. Companies can participate more easily in joint sustainability initiatives and share data to promote greener practices.
The targeted use of specification data and standardized product information via the GDSN offers considerable advantages for the food industry. Thanks to precise inventory management and efficient supply chains, companies reduce waste, cut costs, and achieve their sustainability goals. The improved traceability of products strengthens consumer confidence and improves food safety.
Food companies can significantly improve their business processes through the use of such solutions – from accurate inventory management to reducing packaging materials and minimising food waste.
The GDSN and SpecPage’s Spec GDSN Guide will enable these companies to improve data exchange and their sustainability initiatives within the supply chain, promoting more efficient and environmentally friendly practices.
