Increasing research and development investment from current levels of below 2 per cent to 3 per cent of GDP throughout Europe could create 3.7 million jobs and increase annual GDP by up to €795 billion by 2025. This was the message delivered by Patricia Reilly, a cabinet member in the office of Máire Geoghegan-Quinn, European Commissioner for Research, Innovation and Science who was in Dublin this week to meet with the Board of GS1 in Europe, part of the global supply chain standards body.

At the briefing, the Commission’s representative also presented the European Commission’s recently launched ‘Innovation Union’ initiative, which sets out a strategic approach to transform Europe into an Innovation Economy and in doing so, respond to the challenges of global competition.

The Commission’s ‘Innovation Union’ approach is to use public sector intervention to stimulate the private sector and to remove bottlenecks which currently stop ideas reaching the market. These obstacles include lack of finance, fragmented research systems and markets, under-use of public procurement of innovative products and services and slow standard setting.

In relation to the role of standard setting, Patricia Reilly said: “In early 2011, the Commission will make a legislative proposal to speed up and modernise standard-setting to foster innovation and enable greater interoperability between various technology based systems. Organisations such as GS1, which promote the implementation and operation of global supply chain standards, are critical players needed in the successful roll out of standards based systems.

“We very much welcome the work that GS1 is already doing and are really excited about the possibilities of a number of pilot projects they are working on, which look likely to bring about real innovation and efficiencies in the way we all conduct our business across the supply chain.”

In response, Jim Bracken, chief executive, GS1 Ireland, who was hosting the GS1 in Europe Forum in Dublin said: “The European Commission clearly recognises the value that global standards will bring to the economy and society in general. GS1 standards enable accurate information and visibility of products in the supply chain, and as such, their deployment can play a critical role in increasing competitiveness levels in the EU. We look forward to working more closely with the European Commission in its efforts to forge stronger European Innovation Partnerships.”

At the forum, Bracken also revealed some initial details of an innovative pilot project in the healthcare sector that was recently completed in The Galway Clinic in Ireland. Supported by GS1 Ireland, Georgia Tech Ireland and the Western Vascular Institute, the CLASS project (Clinical Laboratory Automated Stockroom System) has developed a model solution for more effectively managing medical device inventory throughout the hospital.

Taking a global standards-based approach across the entire supply chain and using Automatic Identification and Data Capture (AIDC) and Electronic Data Exchange technologies, CLASS aims to deliver real-time visibility of medical devices across the supply chain, from manufacture to point-of use.

According to Bracken: “This leading edge solution for managing healthcare inventory will ensure that the right quantity of stock items are in the right locations at the right time and are within their expiry date and not subject to recall. The CLASS model solution is a real working example of how technology innovation and the adoption of global supply chain standards can be used to address the numerous challenges, including costs, regulation and patient safety being faced by the healthcare sector today.”
Watch videos of the keynote presentations from Senator Feargal Quinn and Feargal McGroarty from the NCHCD St. James' Hospital.