Retailing in the western world today is already a complex business, so it follows that when the specific requirements of communities such as Halal are taken into consideration, it becomes all the more challenging.
However, due to the increasing importance of the Halal community nowadays, it would be mistaken to see it as niche market.
If 23% of the world population that represents around USD2.3 trillion (excluding Islamic finance) does not impress you, perhaps the estimated annual growth rate of 20% might do so. To put it plainly, this is today a huge market and the impact that it has on the global supply chain at all levels and sectors (including retail, F&B, healthcare and banking, among others) represents an enormous opportunity. Globalization and multi-cultural factors are transferred to business relationships and it is very interesting to watch how the supply chain behaves as it is being reformed by this cultural melting pot.
So buzz words as simplicity, trustable or time-to-market reflect a direction of change which is critical to keep up the pace. GS1 standards and GS1 global initiatives underpin these changes. GS1 codes such as global trade item number (GTIN) and global localization number (GLN) are standards laid down assure its smooth operation but today’s role of technology compliance with the global digital standard network (GDSN) provided by GS1 is indeed a critical mechanism answering to the demands of global operations. And here at Saphety we are proud to have been chosen to provide the technology for the Halal compliance trade item master data alignment (data pool) and digital asset management (DAM) services, following the lead of a visionary company, Serunai Malaysia who have pioneered a suite of services. This has been a journey of encouragement for organizations concerned with the needs of the Halal community supply chain, who have made the strategic choice of embracing GDSN Standards. This will mark out the end of 2015 as a defining moment, not only for the Halal community but also globally for all stakeholders.
2015 GS1 Europe regional forum
During the 2015 GS1 Europe regional forum that will be hosted in Lisbon I am confident that this breakthrough will be great news for all the 400 GS1 decision makers that are attending. GS1 community members have from now on a new mechanism to support their operations. So the forum theme “Serving the value chain of the future” could not be more apt, and you can be sure that we are working towards this end.
Original article published on LinkedIn on 28th october 2015.