DECEMBER 2017CIOAPPLICATIONS.COM8COLLABORATION IS THE NEW COMPETITIVE ADVANTAGEMELANIE NUCE, SENIOR VICE PRESIDENT, CORPORATE DEVELOPMENT, GS1 USusiness is moving faster than ever before, and companies are strategizing on how to stay relevant among emerging generations of digital natives. Today's consumers want memorable shopping experiences, personalization, convenience, and speed. It simply no longer benefits any business to stay comfortably within their own silos. To gain valuable fresh perspectives on new trends, and streamline outdated or manual business processes, it is becoming essential for organizations to collaborate with industry partners and peers. One of the most powerful illustrations of collaboration lies in the development of the information standards that have made modern commerce possible. For example, more than 40 years ago, the U.P.C. barcode revolutionized the retail checkout process--as trading partners universally agreed to use a common symbol or language to facilitate a specific business function. That milestone set the foundation for several cross-industry GS1 US initiatives focused on developing solutions for supply chain and business process challenges. Initiative members collaborate on the industry-wide adoption of standards, as well as through the development of guidelines, readiness programs and educational tools that foster innovation and evolution.Today, industry collaboration helps companies achieve agility and efficiency, creating a springboard for new technological advances, such as the Internet of Things (IoT), machine learning, and blockchain. Let's examine the way collaboration can help companies innovate in these three areas. IoT Though IoT is still in its infancy, we are not too far off from a mechanized world, where internet connected machines inherently anticipate our every need. While BMelanie NuceIN MYVIEW
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