Instabill - GST Invoice, Payment & Inventory Software
Barcode Numbers for Retail Products
Barcode is a unique number represented by a combination of black & white stripes, printed on all the products as characterized by the GS1 norms applicable all over the globe. This simple-looking numerical notation has today made a huge difference in the retail industry, e-commerce, food business, and healthcare. It has indeed made the retail trade faster & efficient than ever, something which has made the world a safer & more reliable place to live in.
A barcode registration can really enable an average retailer to upscale his business seamlessly. The objective of getting a barcode registration is to adopt standardized GS1 barcodes that usually takes into account the following aspects:
- Prominent welfare of the customers,
- Unwavering quality,
- Speed & proficiency in inventory chain.
1. When was the barcode introduced first?
The GS1 had presented its first-ever barcode in 1974. This was printed on a pack of Wrigley's Juicy Fruit gum at a grocery store in Ohio. Since that time onwards, GS1 has contributed altogether to the overall development of the retail sector by facilitating free market activity. Not to mention, the supply chains have increasingly become proficient and receptive to the buyer's needs.
2. How has GS1 Barcode improved the retail sector?
GS1 barcode has a pivotal role in today’s retail business. It has made the global retail trade all the more efficient and cost-effective. Here are some of the evident advantages of using GS1 barcodes in the retail industry:
- Improvised stock management and conveyance.
- Quicker checkout due to faster inventory management, as compared to the long queues seen earlier.
- More opportunities for e-commerce retail on a global scale. The unique barcode number can be scanned electronically, which makes it easier for the items to be followed, prepared, and dispatched.
- Saving of funds. As per the recent study, in the UK alone, the usage of the GS1 barcode has brought about colossal savings of around £10.5 billion in a year to the UK retail business.
Hence, we see that a barcode registration is indeed a lucrative investment for a retailer.
3. What is the role of a barcode in FMCG retail?
In the FMCG (Fast Moving Consumer Goods) sector, the Barcodes are more than just a barcode. They are designed as per the standards for RFID detection. This unique identification and seamless exchange of product data help in the following ways:
- It helps in developing more standardized ways to exchange critical business data.
- It helps in tracing merchandise units by improvised keys such as GTIN, GLN, and SSCC for various products, locations, and shipment units. This improves product visibility and thus operational efficiency.
- The barcode POS scanning system enables faster retail checkout.
- In B2B retail, this helps in efficient electronic ordering, e-invoicing, and timely delivery.
- Enhanced inventory management through RFID detection further facilitates a solid omnichannel strategy and this helps in analyzing shopper behaviour.
- It improves the data quality of the product catalogues.
Thus, we can notice that a GS1 barcode can do wonder in an average-going retail business. However, in order to get the aforesaid actual benefits for retail business, you need to get a barcode registration.
For any sort of guidance or assistance with regard to the entire process of obtaining Barcode Registration in India, please feel free to contact our business advisors at 8881-069-069.
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