How EPCIS and CBV Support the Sharing Economy

In recent years, we've seen the rise of the sharing economy: businesses and consumers who are willing to share resources and utilize collaborative consumption in order to save time and money, reduce waste, and build more sustainable communities. From Airbnb to Zipcar, from Lyft to TaskRabbit, the sharing economy is changing the way we live, work, and interact with each other.

One of the key technologies that makes the sharing economy possible is Electronic Product Code Information Services (EPCIS), an open standard for sharing supply chain data between trading partners. EPCIS provides a standardized way to represent and share product and event data in real time, which is essential for tracking and tracing goods as they move through the supply chain.

Another technology that's critical to the sharing economy is Collaborative Business Visibility (CBV), a platform that enables parties to view and exchange data related to the management and movement of goods. CBV provides a secure way to exchange information between trading partners, and allows parties to collaborate in real time to track shipments, manage inventory, and optimize logistics.

In this article, we'll explore how EPCIS and CBV support the sharing economy, and how they're being used to drive innovation and transformation across a wide range of industries.

EPCIS: Enabling Real-Time Visibility and Efficiency

At its core, the sharing economy is about making more efficient use of existing resources. Instead of owning everything we need, we're starting to share resources like vehicles, homes, and tools. This has been made possible in part by the rise of EPCIS, which enables real-time visibility into the movement and location of goods.

EPCIS is a standardized way to share information about the movement and disposition of products as they move through the supply chain. This enables organizations to track goods in real time, monitor inventory levels, and respond quickly to changes in demand. By adopting EPCIS, companies can achieve significant efficiencies in their supply chains, reducing waste, and optimizing their operations.

One company that's using EPCIS to support the sharing economy is B-Stock Solutions, a provider of liquidation, reselling, and consignment services for retailers and manufacturers. B-Stock's platform enables retailers to dispose of excess or returned inventory quickly and efficiently, while buyers can purchase these goods at a discount. EPCIS enables B-Stock to track the movement of goods through the supply chain and ensure that they're properly cataloged and sold, increasing efficiency and transparency for all parties involved.

Another example of how EPCIS is supporting the sharing economy is in the trucking industry. By using RFID tags and GPS technology to track shipments in real time, trucking companies can optimize their routes, reduce idle time, and improve delivery times. This results in lower costs for shippers and a more efficient supply chain overall.

CBV: Collaboration and Transparency for the Sharing Economy

Another important technology that supports the sharing economy is CBV, which enables parties to collaborate and exchange information related to the management and movement of goods. CBV provides a secure way to exchange data between trading partners, enabling real-time collaboration and improving overall visibility into the supply chain.

One example of how CBV is being used is in the fashion industry. By using CBV, fashion brands can collaborate with their suppliers and distributors to manage their inventory levels and optimize their supply chain. In the past, fashion brands often had little visibility into the movement of their goods once they left the factory. But with CBV, brands can track their products in real time and respond quickly to changes in demand.

Another way CBV is supporting the sharing economy is in the food industry. By using CBV, food distributors can optimize their logistics and reduce waste, resulting in lower costs for themselves and for consumers. CBV also enables consumers to track their food from farm to table, increasing transparency and trust in the food supply chain.

Conclusion

The sharing economy is transforming the way we live and work. By embracing technologies like EPCIS and CBV, businesses and consumers can collaborate to use resources more efficiently, reduce waste, and build more sustainable communities.

EPCIS enables real-time visibility and efficiency in the movement of goods, while CBV enables collaboration and transparency between trading partners. Both technologies are critical to the success of the sharing economy, and will continue to play a key role in driving innovation and transformation across a wide range of industries.