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LAWRENCEVILLE, N.J. - UCCnet announced on Monday that leading CPG manufacturer General Mills has implemented 1,500 of their top selling products to the organization's GLOBALregistry and is utilizing UCCnet data synchronization services to exchange item information with Wal-Mart Stores and Wegmans.
The company, which subscribed to UCCnet in April, has partnered with Integrated
Software Systems, a UCCnet certified alliance partner, to translate and upload product information to the UCCnet GLOBALregistry. General Mills expects to utilize UCCnet to communicate product information for its entire line of manufactured goods with its retail partners.
"UCCnet is an important business standard for our company, as well as the entire industry," said Steve Demeritt, vice chairman of General Mills. "The organization's services represent an opportunity to address the industry's challenges and deliver on the promise of e-Collaboration."
A study recently completed by A.T. Kearney estimated that $40 billion, or 3.5 percent, of total sales in the retail industry are lost each year due to supply chain information inefficiencies. Specifically, the study showed that 30 percent of item data in retail catalogs have errors, which cost between $60 and $80 each and consume 25 minutes of manual cleansing per SKU. Other findings revealed that due to incorrect data, 60 percent of all invoices generated errors and 43 percent of all invoices resulted in deductions.
UCCnet aspires to alleviate these costly errors by enabling registration and synchronization of item information.