Despite investments in IT systems, erroneous data in manufacturers' and retailers' systems, such as obsolete items, incorrect pricing or product definitions can adversely affect supply chain efficiency, e-centre said.
To overcome these problems, e.centre is launching a UK-wide "data pool", to enable trading partners to share and synchronise common product data.
The data pool, due for launch later this year, will be the first in the UK to be based entirely on global supply chain standards and will link to other national data pools through an industry-operated global registry.
Steve Coussins, chief executive of e.centre, said, "The data pool will cut out manual tasks that often result in errors and will combat the ever-present problem of data mismatches, stripping out inefficiency and cost."
The system will allow UK-based manufacturers to upload their product and company information before it is captured and distributed automatically to their retail customers all over the world in a standardised format.