New efficiencies in the agribusiness sector
Agreement reached to drive sector efficiencies between rural merchants and suppliers through high quality product data
The major agribusiness retailers (Farm Source, Farmlands, Rural Co and PGG Wrightson) are working with suppliers to pursue pro-competitive collaboration to align on the use of global data standards to create a 'common language' for the sharing of key product data. Agreeing to work collaboratively in the master data arena to standardise the product attributes required from a supplier will increase supply chain visibility and efficiency and reduce costs for all participants.
Farmers and their other customers are expecting to have online good quality information about products and associated technical information available on demand.
Likewise, the agribusiness merchants need an expanded variety of information from suppliers on their products so that they can manage and sell the products effectively. This expanded range of standardised product attributes will support:
- Customer expectations for product information
- Regulatory compliance (e.g. dangerous goods)
- Traceability and to power a robust and efficient online recall processes (using GS1 NZ’s ProductRecallNZ service)
- ‘Direct-to-screen’ online process for information (e.g. features/benefits/images/product data sheets/instructional videos delivered direct to an ecommerce website)
Recent rural supplier seminars hosted by GS1 and attended by ~100 suppliers highlighted that each of the merchants requesting different product information in different formats and via different routes (email, file upload etc) was inefficient, risky and not seen as a source of competitive differentiation.
The seminar was recorded, watch the video to the left.