The ‘India Data Crunch Report’ compiled by GS1 India captures the status on product data quality in the Indian Retail sector and its impact on consumer service and top line and bottom line of retailers and their suppliers.
The results show over 80 percent inconsistency and inaccuracy and the lack of data alignment and synchronisation between retailers and their suppliers. Major Indian retailers and key FMCG companies participated in this study which is just the third such study undertaken in the world.
The report calls for urgent and strong action by the Retail community in working collectively to address issues related to product data quality and its alignment and synchronisation using global GS1 standards.
This is expected to substantially enhancing business performance of retailers and suppliers in terms of out of stocks, replenishment, shelf space, logistics management with corresponding benefits to Indian consumers.
The report was released at the National Retail Summit organised by CII on 16 February 2012 at Mumbai.