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Why is a Global Trade Item Number (GTIN) important for retailers?

It manages supplier contracts

It uniquely identifies products in the market

A Global Trade Item Number (GTIN) is crucial for retailers because it serves as a unique identifier for products in the marketplace. This unique number helps in precise identification of items, allowing retailers to manage inventory effectively, streamline the supply chain, and ensure accurate sales tracking. When every product has a distinct GTIN, it reduces the possibility of confusion between similar items and facilitates easier barcode scanning at points of sale.

The uniqueness of the GTIN enables various stakeholders, such as manufacturers, wholesalers, and retailers, to communicate about the specific product across different systems and platforms, enhancing operational efficiency. Additionally, utilizing GTINs contributes to better data management and improves the overall shopping experience for customers by ensuring that the correct items are identified and processed quickly.

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It regulates financial reporting

It guarantees patient safety in treatments

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