This technology is significant in hastening a speedy transfer of information from the manufacturer to the retailer. In addition, this technology is important in terms of improving accuracy and security of data (Gopal & McMillan 2005, p.58).
This technology is enhanced by the existence of a global network termed as the Global Data Synchronisation Network which is under the management of GS1. This organisation (GS1) is responsible globally in matters dealing with the design and implementing the global standards and solutions necessary to enhance the efficiency and also visibility with regard to supply and demand chains existing across verticals. On another note, this technology is necessary in the sense that, it enables trading partners to have access to product information in real time. In addition, this technology is necessary in a globalized market where obtaining latest information is critical for businesses. For instance, any change made in a firm’s database automatically reflects on other business partner’s database. This is made possible through the GS1 system that relies on the Global Trade Identification Number (Gopal & McMillan 2005, p.62).
2.1 The industries engaging in retail and consumer products recognizes the urgency to change and adopt a technology that would ensure system-system synchronisation with regard to products, price, the location, services and sharing of other information between business partners. In order to achieve this milestone of data synchronisation that involves many systems, standards, businesses data management and electronic synchronisation have emerged as solutions to problems related to data sharing among business partners. Further, this technology is seen as a means to enhance efficiency and hastening responsiveness within the supply chain. With regard to this technology, trading partners can share two forms of data. The first is neutral data that can be shared among many parties and is considered to