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GS1 UK, a not-for-profit supply chain and solutions organisation, has released a major new report, outlining the potential for a £1bn saving across the British retail sector through improved data practises. The 'Data Crunch' report, released this week, outlines areas of inconsistency to be improved, in order for retailers to recognise significant cost savings. These can then be passed on to consumers in the form of an improved shopping experience and more informed choices.
Mike Coupe, Trading Director at Sainsbury's, commented: "It's in everyone's interests for the industry to work together towards building smarter supply chains. From a retailer's perspective, we're constantly exploring ways to provide greater business insight to help drive improved decision making and operational efficiencies. We must all work with our suppliers to ensure a reliable flow of information and product data to make this happen. We'll be closely examining the report's findings to see how GS1 standards can enhance our processes."
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