New standard will help companies further reduce supply chain costs

London 23 July 2007: GS1, the global standardisation body, today announced a new standard that will make it possible for trading partners to further reduce supply chain costs by synchronising price information through there Global Data Synchronisation Network (GDSN).

The Business Message Standard (BMS) for Price Synchronisation in the GDSN will help companies reduce, non-quality orders and invoice deductions which result from inaccurate pricing information. A significant number of retailers and suppliers with global reach such as Tesco, SuperValu, Carrefour, Lavazzo, Procter & Gamble, L’Oréal and MasterFoods participated in testing and validating the requirements for this standard.

Industry studies have indicated that greater financial return is achieved as companies expand the scope of data synchronisation and collaboration. The price synchronisation standard is a continuation of GS1 standards that have been developed to help companies across the global supply chain to:

• provide standardised, reliable data for effective business transactions in both local and global markets
• ensures that trading partners work in a standardised way, reducing duplicate systems and processes
• ensures that item data is consistent between trading partners
• validates accuracy of data against standards and business rules
• ensures that trading partners classify their products in a unique, standardised way (Global Product Classification)

“Over 10,000 of the world’s leading retailers and suppliers have already made the Global Data Synchronisation Network a cornerstone of their successful electronic business practice. The GDSN and data synchronisation standards ensure that trade item information about a product – such as dimensions, descriptions, GTIN, and now also price – are accurate across trading partner systems at any given point in time. “, says Robert Besford, GDSN manager at GS1 UK.

About GS1 UK and GS1 GDSN Inc.

GS1 UK has driven innovation in the supply chain for over thirty years. It is part of the global GS1 organisation, dedicated to the development and implementation of global data standards and solutions for the supply chain. GS1 standards are the most widely used in the world.

GS1 UK aims to make it faster, more cost effective and safer for our members to serve their customers through the industry wide adoption of global GS1 standards and locally delivered services. GS1 UK helps industry to implement these data standards through the use of bar codes, RFID, Global Data Synchronisation (GDS) and electronic business messaging. www.gs1uk.org

GS1 GDSN, Inc. is a subsidiary of GS1 managing the Global Data Synchronisation Network™ (GDSN). The GDSN is an internet-based, interconnected network of interoperable data pools and a global registry (the GS1 Global Registry™) that enable companies around the globe to exchange standardised and synchronised supply chain data with their trading partners. For more information, please visit: http://www.gs1.org/gdsn

For more information contact:

Lisa Henshaw or Kirsty Sewter
Fourth Day PR
+44 (0)20 7403 4411

Tom Beston
GS1 UK
+44 (0)20 7655 9000

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