Product Identifiers

The Product Identifiers feature enables the storage and management of known product identifiers that may be assigned by third-party organizations or standards bodies. These identifiers serve as unique references for products and are crucial for identification, tracking, and interoperability in various industries.

Examples of such product identifiers include NSIN, CUSIP, ISIN in the financial services sector, and GTIN, barcodes, UPC in the retail industry. By storing and associating these identifiers with products, organizations can ensure accurate identification and compatibility with external systems and standards.

Use Cases for Product Identifiers:

• Financial Services: Banks, investment firms, and financial institutions can utilize product identifiers like ISIN (International Securities Identification Number) to uniquely identify financial instruments such as stocks, bonds, and mutual funds. This facilitates efficient trading and regulatory compliance.
• Retail and Supply Chain: Retailers can store GTIN (Global Trade Item Number) and UPC (Universal Product Code) identifiers for their products, enabling streamlined inventory management, point-of-sale transactions, and supply chain operations.
• Healthcare and Pharmaceuticals: Pharmaceutical companies can use identifiers like NDC (National Drug Code) to track and manage medications, ensuring accurate prescription filling and regulatory adherence.
• Manufacturing and Production: Manufacturers can assign unique part numbers and barcodes to components and products, simplifying quality control, assembly, and distribution processes.

Cross-Industry Standards: Organizations can align with global standards such as GS1 and UNSPSC by storing standardized product identifiers, promoting consistency and interoperability across industries.