RFID versus código de barras da produção à grande distribuição

   L 

)DFXOGDGHGH(QJHQKDULDGD8QLYHUVLGDGHGR3RUWR



5),'9HUVXV&yGLJRGH%DUUDV

GD

3URGXomRj*UDQGH'LVWULEXLomR

-RUJH5HL





'LVVHUWDomRUHDOL]DGDQRkPELWRGR

0HVWUDGR,QWHJUDGRHP(QJHQKDULD(OHFWURWpFQLFDHGH&RPSXWDGRUHV

0DMRU7HOHFRPXQLFDo}HV

2ULHQWDGRU 3URI'U-RmR%DUURV)(83

&RRULHQWDGRU'U7LDJR9LQKR]D,QVWLWXWRGH7HOHFRPXQLFDo}HV





-XOKR

LL                                   





















‹$QWyQLR-RUJH/DUDQMHLUD5HL

LLL

5HVXPR

$VWHFQRORJLDVGHLGHQWLILFDomRDXWRPiWLFDVmRXPDUHDOLGDGHRPQLSUHVHQWHQRPXQGRHP TXHYLYHPRV 'HHQWUHDVWHFQRORJLDVGHLGHQWLILFDomRDXWRPiWLFDRFyGLJRGHEDUUDVpD PDLVXVDGD HPWRGRRPXQGRHDVXDXWLOL]DomRQmROHYDQWDTXDOTXHUSROpPLFD 2VLVWHPDGHLGHQWLILFDomRSRUUDGLRIUHTXrQFLDDVSLUDDVXEVWLWXLUDWHFQRORJLDGHFyGLJR GHEDUUDVDFUHVFHQWDQGRQRYDVIXQFLRQDOLGDGHVHIDFLOLGDGHVPDVDVXDDFHLWDomRQmRpSDFt ILFDMiTXHSRGHWHUVXEMDFHQWHXPDLQYDVmRGDSULYDFLGDGH

1HVWH WUDEDOKR SUHWHQGHVH DQDOLVDU RV UHTXLVLWRV GH LPSOHPHQWDomR GD WHFQRORJLD 5),' QXPDHPSUHVDGRVHFWRUDJURLQGXVWULDORVJDQKRVHVSHUDGRVLQWHUQDPHQWHHQDPHOKRULDGR UHODFLRQDPHQWRFRPWRGRVRVLQWHUYHQLHQWHVQDFDGHLDGHYDORUGHVGHDSURGXomRDWpjJUDQ GHGLVWULEXLomR

6HUmRWDPEpPDQDOLVDGRVRVSUREOHPDVGHVHJXUDQoDHSULYDFLGDGHOHYDQWDGRVSHODLQWUR GXomRGHVWDWHFQRORJLD

LY        

Y

$EVWUDFW

7KHDXWRPDWLFLGHQWLILFDWLRQWHFKQRORJLHVDUHDSHUYDVLYHUHDOLW\LQWKHZRUOGZHOLYH $PRQJWKHWHFKQRORJLHVRIDXWRPDWLFLGHQWLILFDWLRQEDUFRGHLVWKHPRVWXVHGDURXQGWKH ZRUOGDQGWKHLUXVHGRHVQRWUDLVHDQ\FRQWURYHUV\

7KH V\VWHP RI UDGLR IUHTXHQF\ LGHQWLILFDWLRQ DLPV WR UHSODFH WKH EDU FRGH WHFKQRORJ\ DGGLQJQHZIHDWXUHVDQGIDFLOLWLHVEXWLWVDFFHSWDQFHLVQRWSHDFHIXOEHFDXVHLWPD\KDYHDQ XQGHUO\LQJLQYDVLRQRISULYDF\

7KLVSDSHUDLPVWRDVVHVVWKHUHTXLUHPHQWVIRULPSOHPHQWDWLRQRI5),'WHFKQRORJ\LQWKH DJURLQGXVWULDO VHFWRU WKH LQWHUQDO EHQHILWV DQG LPSURYLQJ WKH UHODWLRQVKLS ZLWK DOO VWDNH KROGHUVLQWKHYDOXHFKDLQIURPSURGXFWLRQWRVXSHUPDUNHWV

YL        

YLL

$JUDGHFLPHQWRV

$R3URI'U-RmR%DUURVTXHDFROKHXDLGHLDGHVWHWUDEDOKRHLQGLFRXR'U

7LDJR9LQKR]DSDUDRRULHQWDU

$R'U7LDJR9LQKR]DTXHDFHLWRXRULHQWDUHVWHWUDEDOKR

$R(QJ6LOYpULR1HYHVSHORVSUHoRVTXHPHIRUQHFHX

$RPHXILOKRSHORGHVDILR



$WRGRVHOHVH[SUHVVRDPLQKDJUDWLGmR

 

&RPRVPHXVPHOKRUHVFXPSULPHQWRV



-RUJH5HL

    

YLLL          

L[

ÌQGLFH

5HVXPRLLL

$EVWUDFWY

$JUDGHFLPHQWRVYLL

ÌQGLFHL[

/LVWDGHILJXUDV[LL

/LVWDGHWDEHODV[LY

$EUHYLDWXUDVH6tPERORV[Y

&DStWXOR ,QWURGXomR 0RWLYDomR 2EMHFWLYRV (QTXDGUDPHQWR 2UJDQL]DomR &DStWXOR &yGLJRGH%DUUDV 6LVWHPDVGH,GHQWLILFDomR$XWRPiWLFD +LVWyULDGR&yGLJRGHEDUUDV ,GHQWLILFDGRUHV*6&yGLJRGH%DUUDV *7,1 */1 66&& *5$, *,$, &KHFN'tJLWR ($1²RX*6 2&yGLJRGH%DUUDVQD&DGHLDGH$EDVWHFLPHQWR 9DQWDJHQVGR&yGLJRGH%DUUDV 9XOQHUDELOLGDGHVH/LPLWDo}HV &DStWXOR 5),'²5DGLR)UHTXHQF\,GHQWLILFDWLRQ $+LVWyULD 20HUFDGRGH5),' 3ULQFLSDLVÉUHDVGH$SOLFDomR

[ 6WDQGDUGV5),' $LU,QWHUIDFH3URWRFRO²,62,(& 2XWURVVWDQGDUV5),' &RPSRQHQWHVGHXP6LVWHPDGH5),' /HLWRUHVGH5),' ,QWHUIHUrQFLDHQWUH/HLWRUHV 6LQJXODUL]DomRGDV7DJV %DVHDGRVHP$ORKD %DVHDGRVHPÉUYRUH%LQiULD ,GHQWLILFDomR6LPXOWkQHDGHXPD7DJSRU9iULRV/HLWRUHV 0LGGOHZDUH &DStWXOR 7DJV5),' &ODVVLILFDomRGDV7DJVIXQomRGRWLSRGH$OLPHQWDomR &ODVVLILFDomR(3&JOREDOGDV7DJV )UHTXrQFLDVGH)XQFLRQDPHQWR 2ULJHPGD(QHUJLDGDV7DJV 6PDUW/DEHOV &DStWXOR (3&JOREDO1HWZRUN (3&JOREDOD+LVWyULD 'HVHQYROYLPHQWRGH6WDQGDUGV(3&JOREDO 6WDQGDUGV(3&JOREDO 8+)&ODVV*HQHUDWLRQ 8+)&ODVV*HQHUDWLRQ²(XURSD 8+)&ODVV*HQHUDWLRQ²(8$ 'HQVH5HDGHU0RGH'50 7$*8+)&ODVV*HQ0HPRU\ 7DJ'DWD6WDQGDUGV *HQHUDO,GHQWLILHU 6HULDOL]HG*OREDO7UDGH,WHP1XPEHU 6HULDO6KLSSLQJ&RQWDLQHU&RGH 6HULDOL]HG*OREDO/RFDWLRQ1XPEHU *OREDO5HWXUQDEOH$VVHW,GHQWLILHU *OREDO,QGXYLGXDO$VVHW,GHQWLILHU (VSHFLILFDomR'R' &DStWXOR 3ULYDFLGDGHH6HJXUDQoD 3UHRFXSDo}HVFRPRXVRGH5),' 5HFRPHQGDo}HVVREUHRXVRGH5),' 0HGLGDVGH6HJXUDQoD $WDTXHVPDLV)UHTXHQWHVH5HVSHFWLYDV&RQWUDPHGLGDV (DYHVGURSSLQJ $QiOLVHGHWUiIHJR 6SRRILQJ 5HOD\DWWDFNRX0DQLQWKHPLGOHDWWDFN &ORQDJHPGD7DJ 5HSOD\DWWDFN $OWHUDomRGHFRQWH~GR 'HVWUXLomRGD7DJ 'HQLDORI6HUYLFHDWWDFN 2XWUDV9XOQHUDELOLGDGHV ÉUHDVGH,QYHVWLJDomR 1RYDVWHQGrQFLDVGRV0HFDQLVPRVGH'HIHVD 1RYDVWHQGrQFLDVGRV0HFDQLVPRVGH$WDTXH

[L &DStWXOR ,PSOHPHQWDomRGHXPD,QIUDHVWUXWXUDGH5),' 6HOHFomRGH)RUQHFHGRUHV 6HOHFomRGD)UHTXrQFLD 6HOHFomRGH7DJV 6HOHFomRGH/HLWRUHV 6HOHFomRGH$QWHQDV 6LWH6XUYH\ 2XWURV(OHPHQWRV ,QWHJUDomRGD5),'QD2UJDQL]DomR &DStWXOR 5),'GD3URGXomRj([SHGLomR %UHYH&DUDFWHUL]DomRGR6HFWRU 0HWRGRORJLDGH,GHQWLILFDomR 0RGRGH)XQFLRQDPHQWR ([SHGLomRGD0HUFDGRULD 3ULQFLSDLV9XOQHUDELOLGDGHVGR6LVWHPD$FWXDO 3URSRVWDGH6ROXomR (QWUDGDHP6WRFNGD3URGXomR 6DtGDGH6WRFN([SHGLomR 2XWURVPRYLPHQWRVQR6WRFN $QiOLVHGH/RJV 3RUWDO5),' -XVWLILFDomRGD6ROXomR3URSRVWD &XVWRVGD6ROXomR3URSRVWD &DStWXOR &RQFOXV}HVH7UDEDOKR)XWXUR &RQFOXV}HV 7UDEDOKR)XWXUR $,QTXpULWR(QYLDGR

5HIHUrQFLDV



[LL

/LVWDGHILJXUDV

)LJXUD6LVWHPDVGH,GHQWLILFDomR$XWRPiWLFD )LJXUD([HPSORVGH3') )LJXUDÉUHDVGHLPSOHPHQWDomRGHQRUPDV*6 )LJXUD

(VWUXWXUDGHGDGRV*7,1

 )LJXUD

(VWUXWXUDGHGDGRV*/1

 )LJXUD

(VWUXWXUDGHGDGRV66&&@

 )LJXUD

(VWUXWXUDGHGDGRV*5$,

 )LJXUD

(VWUXWXUDGHGDGRV*,$,

 )LJXUD&iOFXORGRFKHFNGtJLWR )LJXUD([HPSORGH&yGLJR($1 )LJXUD([HPSORGH(WLTXHWD/RJtVWLFD*6 )LJXUD$OJXQVGRV$,VPDLVXWLOL]DGRV )LJXUD1~PHURGH/HLWRUHV5),'&RPHUFLDOL]DGRVH3UHYLV}HV )LJXUD3HUVSHFWLYDVGHHYROXomRGRPHUFDGRGH5),'²+DUGZDUH )LJXUD3ULQFLSDLVUD]}HVSDUDDGRSomRGDWHFQRORJLD5),'HPQRV(8$ )LJXUD-HDQV5LFD/HZLVFRPVPDUWODEHO )LJXUD&RPSRQHQWHVGHXPVLVWHPDGH5),' )LJXUD)UDPHG6ORWWHG$ORKD )LJXUD,GHQWLILFDomRGHWDJVD%LQDU\7UHHE4XHU\7UHH )LJXUD3ULQFLSDLVFRPSRQHQWHVGHVRIWZDUHQXPVLVWHPDGH5),' )LJXUD)XQo}HVGR0LGGOHZDUH )LJXUD&RPSRQHQWHVGHXPD7DJ3DVVLYD )LJXUD&ODVVLILFDomRGDVWDJVVHJXQGRRVWDQGDUG(3&JOREDO

[LLL

)LJXUD$FRSODPHQWR,QGXWLYR )LJXUD%DFNVFDWWHU )LJXUD

Constituição de uma Smart Label

 )LJXUDStandars EPCglobal )LJXUD)UHTXrQFLDVDWULEXtGDVSRUYiULRVSDtVHVQDEDQGD8+) )LJXUD&DQDLVH5HVSHFWLYDV3RWrQFLDVPi[LPDVGHHPLVVmR )LJXUD&DQDLVH5HVSHFWLYDV3RWrQFLDVPi[LPDVGHHPLVVmRPRGR'50 )LJXUD(VWUXWXUD/yJLFDGD0HPyULDGHXPDWDJ )LJXUD/D\RXWGDPHPyULD(3&GHXPDWDJ&ODVV*HQELWV )LJXUD&RQYHUVmRGH($18&&*7,1PDLVQ~PHURGHVpULHHP6*7,1(3&JOREDO )LJXUD&RQYHUVmRGR66&&GH($18&&SDUD66&&(3&JOREDO )LJXUD&RQYHUVmRGR*/1GH($18&&PDLVH[WHQVmRSDUD6*/1(3&JOREDO )LJXUD&RQYHUVmRGR*5$,GH($18&&HQ~PHURGHVpULHSDUD*5$,(3&JOREDO )LJXUD&RQYHUVmRGR*,$,GH($18&&HQ~PHURGHVpULHSDUD*,$,(3&JOREDO )LJXUD(VSHFLILFDomR'R'² )LJXUD$PHDoDVjSULYDFLGDGHGRFRQVXPLGRU )LJXUD'LIHUHQWHVGHVHQKRVGHDQWHQDVGHWDJVVHPHVFDOD )LJXUD&RORFDomRGDVHWLTXHWDV*6QDSDOHWH )LJXUD66&&QDFDGHLDGHDEDVWHFLPHQWR )LJXUD/D\RXWHVWLOL]DGRGHXPDXQLGDGHSURGXWLYD )LJXUD(PSLOKDGRUFRPWDJ*,$,GRODGRGLUHLWR²3HUPLWHLGHQWLILFDURVHQWLGR )LJXUD3RUWDLVHVHXV&RPSRQHQWHV )LJXUD/HLWRU)L[R0RWRUROD); )LJXUD$QWHQD0RWRUROD$1 )LJXUD,PSUHVVRUD=HEUD5= 

[LY

/LVWDGHWDEHODV

 7DEHOD³9DORUGRPHUFDGRGH5),' 7DEHOD³1~PHURHPPLOK}HVGHWDJVSDVVLYDVSRUiUHDGHDFWLYLGDGH 7DEHOD³9DORUHPPLOK}HVGH86GHWDJVSDVVLYDVSRUiUHDGHDFWLYLGDGH 7DEHOD³9DORUGDV7DJVHPSRUUDPRGHDFWLYLGDGH 7DEHOD³,PSDFWRGHDOJXQVPDWHULDLVQDSURSDJDomRGRVLQDOGH5) 7DEHOD³,PSDFWRGHDOJXQVPDWHULDLVQDSURSDJDomRGRVLQDOGH5) 7DEHOD³$PHDoDVHHOHPHQWRVGRVLVWHPD5),'DWDFDGR 7DEHOD³$PHDoDVDXPVLVWHPDGH5),'HSRWHQFLDLVFRQVHTXrQFLDV 7DEHOD³(YHQWRVQR3RUWDO 7DEHOD³/RJGH(YHQWRV 7DEHOD³&XVWRVGD6ROXomR  

[Y

$EUHYLDWXUDVH6tPERORV

$,  $SSOLFDWLRQ,GHQWLILHU $,'&  $XWRPDWLF,GHQWLILFDWLRQDQG'DWD&DSWXUH $3,  $SSOLFDWLRQ3URJUDPPLQJ,QWHUIDFH %,  %LOKHWHGH,GHQWLGDGH %5,'*( %XLOGLQJ5DGLRIUHTXHQF\,GHQWLILFDWLRQ6ROXWLRQVIRUWKH*OREDO(QYLURQPHQW &$63,$1 &RQVXPHUV$JDLQVW6XSHUPDUNHW3ULYDF\,QYDVLRQDQG1XPEHULQJ 'R'  'HSDUWPHQWRI'HIHQVHGRV(VWDGRV8QLGRVGD$PpULFD '16  'RPDLQ1DPH6\VWHP 'R6  'HQLDORI6HUYLFH '50  'HQVH5HDGHU0RGH ($1  (XURSHDQ$UWLFO1XPEHU (',  (OHFWURQLF'DWD,QWHUFKDQJH (,53  (TXLYDOHQW,VRWURSLFDOO\5DGLDWHG3RZHU (0($  (XURSH0LGGOH(DVWDQG$IULFD (3&  (OHFWURQLF3URGXFW&RGH (53  (IIHFWLYH5DGLDWHG3RZHU (53  (QWHUSULVH5HVRXUFH3ODQQLQJ (76,  (XURSHDQ7HOHFRPPXQLFDWLRQ6WDQGDUGV,QVWLWXWH (8$  (VWDGRV8QLGRVGD$PpULFD )&&  )HGHUDO&RPPXQLFDWLRQV&RPPLVVLRQ *'61  *OREDO'DWD6\QFURQL]DWLRQ1HWZRUN *,$,  *OREDO,QGLYLGXDO$VVHW,GHQWLILHU */1  *OREDO/RFDWLRQ1XPEHU *5$,  *OREDO5HWXUQDEOH$VVHW,GHQWLILHU *7,1  *OREDO7UDGH,GHQWLILHU1XPEHU *36  *OREDO3RVLWLRQLQJ6\VWHP +)  +LJKIUHTXHQF\ ,(&  ,QWHUQDWLRQDO(OHFWURWHFKHQLFDO&RPPLVVLRQ ,))  ,GHQWLILFDWLRQ)ULHQGRU)RH ,6%1  ,QWHUQDWLRQDO6WDQGDUG%RRN1XPEHU ,60  ,QGXVWULDO6FLHQWLILFDQG0HGLFDO

[YL ,62  ,QWHUQDWLRQDO2UJDQL]DWLRQIRU6WDQGDUGL]DWLRQ ,7)  ,QWHUURJDWRU7DONV)LUVW ,78  ,QWHUQDWLRQDO7HOHFRPPXQLFDWLRQ8QLRQ /%7  /LVWHQ%HIRUH7DON /)  /RZIUHTXHQF\ 0,%  0DQDJHPHQW,QIRUPDWLRQ%DVH 0,7  0DVVDFKXVHWWV,QVWLWXWHRI7HFKQRORJ\ 2&5  2SWLFDOFKDUDFWHUUHFRJQLWLRQ 216  2EMHFW1DPH6HUYLFH 30(  3HTXHQDH0pGLD(PSUHVD 5)&  5HTXHVWIRU&RPPHQWV 5),'  5DGLR)UHTXHQF\,GHQWLILFDWLRQ 57/6  5HDO7LPH/RFDWLRQ6\VWHP 6103  6LPSOH1HWZRUN0DQDJHPHQW3URWRFRO 66&&  6HULDO6KLSSLQJ&RQWDLQHU&RGH 77)  7DJ7DONV)LUVW 8&&  8QLIRUP&RPPHUFLDO&RGH (8  8QLmR(XURSHLD 8+)  8OWUD+LJK)UHTXHQF\ 8,'  8QLTXH,GHQWLILFDWLRQ 83&  8QLYHUVDO3RVW&RGH 83&&  8QLIRUP3URGXFW&RGH&RXQFLO :06  :DUHKRXVH0DQDJHPHQW6\VWHP  /LVWDGHVtPERORV  Ũ &RPSULPHQWRGHRQGD F 9HORFLGDGHGDOX]QRYiFXR I )UHTXrQFLDGDRQGD  

   

&DStWXOR 



,QWURGXomR

 0RWLYDomR

$RORQJRGRV~OWLPRVDQRVDVHPSUHVDVGDViUHDVGHSURGXomRGLVWULEXLo}HVHFRPHUFLDOL ]DomR GH EHELGDV H SURGXWRV DOLPHQWDUHV WrP LPSOHPHQWDGR YiULDV VROXo}HV EDVHDGDV HP FyGLJR GH EDUUDV $ LQWURGXomR GHVWD WHFQRORJLD SURYRFRX JDQKRV GH SURGXWLYLGDGH DSUHFLi YHLVHTXHSRGLDPVHUIDFLOPHQWHPHQVXUiYHLVFRPRSRUH[HPSORGLPLQXLomRGHWHPSRVGH GLJLWDomR HOLPLQDomR GRV HUURV GH GLJLWDomR H D HOLPLQDomR GRV HIHLWRV QHIDVWRV TXH HVVHV HUURVLQWURGX]LDPQDVRSHUDo}HVHIHFWXDGDVDMXVDQWHHQWUHRXWURV

2PHUFDGRpXPDHQWLGDGHGLQkPLFDHPFRQVWDQWHHYROXomRHRVGHVDILRVTXHKRMHVmR FRORFDGRV QD IRUPD GH LQIRUPDU QDV UHODo}HV GH LQWHUGHSHQGrQFLD HQWUH WRGRV RV LQWHUYH QLHQWHVGDFDGHLDGHYDORUQDGLPLQXLomRGRVWHPSRVGHUHVSRVWDDGPLVVtYHLVjVVROLFLWDo}HV GRVLQWHUYHQLHQWHVQRSURFHVVRQRDWHQGLPHQWRFDGDYH]PDLVSHUVRQDOL]DGRHQDWHQGrQFLD JOREDOSDUDXPDJHVWmRGHVWRFNVMXVWLQWLPHH[LJHPQRYDVUHVSRVWDV $VSHUGDVTXHDVRUJDQL]Do}HVDVVXPHPTXHVmRFRPSURYDGDVSRUYiULRVHVWXGRVHLPSX WDGDVDXPDGHILFLHQWHJHVWmRGHVWRFNVVmRFDGDYH]PDLVXPDiUHDSULRULWiULDSDUDDJHV WmRUD]mRSHODTXDOTXDOTXHUVROXomRTXHPLQLPL]HHVVDVSHUGDVHTXHDSUHVHQWHXPUHWRUQR GHLQYHVWLPHQWRJDUDQWLGRVmRQRUPDOPHQWHDGRSWDGDV $VVROXo}HVEDVHDGDVHPFyGLJRGHEDUUDVQmRSHUPLWHPDLPSOHPHQWDomRGHVROXo}HVGH WUDFNDQGWUDFHHPWHPSRUHDOXPDLQWHUDFWLYLGDGHRQOLQHHQWUHRVLQWHUYHQLHQWHVQDFDGHLD GHDEDVWHFLPHQWRQHPDDOWHUDomRGDLQIRUPDomRFRQWLGDQRFyGLJRGHEDUUDVDOpPGHRXWUDV OLPLWDo}HV

$ UHVSRVWD D PXLWDV GDV OLPLWDo}HV DSUHVHQWDGDV SHOR FyGLJR GH EDUUDV p GDGD SRU XPD WHFQRORJLDUHODWLYDPHQWHUHFHQWHHTXHFDGDYH]JDQKDPDLVDGHSWRVDQtYHOJOREDO(VVDWHF QRORJLDpGHQRPLQDGD5),'5DGLR)UHTXHQF\,GHQWLILFDWLRQFXMDVSULQFLSDLVFDUDFWHUtVWLFDV SRWHQFLDOLGDGHVOLPLWDo}HVHLPSOHPHQWDomRVHUmRDERUGDGDVQHVWHWUDEDOKRSRUTXHDFUHGL



WDVHTXHDVXDXWLOL]DomRDEUHXPDQRYDYLVmRVREUHDIRUPDGHHQFDUDUDVRFLHGDGHHPTXH YLYHPRVHTXHVHUiXPDGDVFRPSRQHQWHVIXQGDPHQWDLVGHXPDQRYDYLVmRGDVWHFQRORJLDVGD LQIRUPDomRHFRPXQLFDomRTXHpGHVLJQDGDSRU¶,QWHUQHWRI7KLQJV·

 2EMHFWLYRV

8P GRV REMHFWLYRV GHVWH WUDEDOKR p DQDOLVDU DV SRVVLELOLGDGHV GD WHFQRORJLD GH 5),' 5DGLR)UHTXHQF\,GHQWLILFDWLRQVXEVWLWXLURXFRPSOHPHQWDUDFXUWRSUD]RDDQRVPXL WDVGDVLPSOHPHQWDo}HVEDVHDGDVQRFyGLJRGHEDUUDVDFWXDOPHQWHXVDGRQDWURFDGHLQIRU PDo}HVHQWUHDVHPSUHVDVGRVHFWRUDJURLQGXVWULDODVHPSUHVDVWUDQVSRUWDGRUDVDVSODWD IRUPDVORJtVWLFDVHDJUDQGHGLVWULEXLomR7DPEpPDQDOLVDPRVRVLPSDFWRVDRQtYHOGDVHJX UDQoDHSULYDFLGDGHUHVXOWDQWHVGDDGRSomRGDWHFQRORJLD5),'HDSUHVHQWDPRVXPPRGHOR TXHSUHWHQGHPLQLPL]DUDVLQHILFLrQFLDVHOLPLWDo}HVLQWUtQVHFDVDRPRGHORDFWXDOEDVHDGR HPFyGLJRGHEDUUDV)LQDOPHQWHDQDOLVDPRVRVFXVWRVHLPSDFWRVUHVXOWDQWHVGDDGRSomRGD WHFQRORJLD5),'SRUXPDHPSUHVDGRVHFWRUDJURDOLPHQWDU

 (QTXDGUDPHQWR

1HVWHWUDEDOKR SUHWHQGHPRVLQWHJUDURVFRQKHFLPHQWRVREWLGRVQDViUHDVGHIRUPDomR DFDGpPLFDHVSHFtILFDVGH3*5(3ODQHDPHQWRH*HVWmRGH5HGHV665(6HJXUDQoDHP6LV WHPDVH5HGHV7HOHFRPXQLFDo}HVHDPLQKDDFWLYLGDGHSURILVVLRQDO 23ODQHDPHQWRH*HVWmRGH5HGHVVHUiXVDGRQDDYDOLDomRGHWRGDDLQIUDHVWUXWXUDGD UHGHTXHVHUiQHFHVViULRSURMHFWDUDOWHUDURXLPSOHPHQWDUSDUDTXHXPDVROXomREDVHDGD HP5),'SRVVDVHULQWURGX]LGDPLQLPL]DQGRRVLPSDFWRVQHJDWLYRVQDRUJDQL]DomREHPFRPR QRGLPHQVLRQDPHQWRGRVPHLRVQHFHVViULRVSDUDJDUDQWLUXPDHOHYDGDTXDOLGDGHGRVVHUYL oRVRIHUHFLGRVDQtYHOGHWUDQVSRUWHGRVGDGRVHQYROYLGRV

8PD HVSHFLILFDomR GH UHTXLVLWRV GD HPSUHVD GHYH VHU HIHFWXDGD H R SURFHVVR GH LPSOHPHQWDomRGDLQIUDHVWUXWXUD SURMHFWDGD GHYHVHUWHVWDGDGHIRUPDDJDUDQWLUTXHDV VROXo}HVDGRSWDGDVFXPSUHPRVUHTXLVLWRVHVSHFLILFDGRV

$ 6HJXUDQoD HP 6LVWHPDV H 5HGHV VHUi XWLOL]DGD SDUD DYDOLDU D VHJXUDQoD GR VLVWHPD TXDQWRDSRWHQFLDLVDWDTXHVVHOHFomRGDVPHWRGRORJLDVDVXJHULULPSOHPHQWDUTXHJDUDQ WDPXPD HIHFWLYDFRQILGHQFLDOLGDGH HLQWHJULGDGHGRVGDGRVEHPFRPR GDVPHGLGDVWHQ GHQWHVDHYLWDUDFRQWUDIDFomRRXGHWHFomRGHDUWLJRVFRQWUDIHLWRV $V7HOHFRPXQLFDo}HVVmRDEDVHGHWRGDDLQIUDHVWUXWXUDDVHUXVDGDSDUDDTXLVLomRH WUDQVPLVVmRGHGDGRV8PDDQiOLVHLQGLYLGXDOWHUiTXHVHUHIHFWXDGDHPFDGDRUJDQL]DomR HPTXHVHSUHWHQGDLPSOHPHQWDUXPDVROXomRFRPWHFQRORJLD5),'8PHVWXGRDSURIXQGDGR GHYHVHUHIHFWXDGRSDUDHVFROKHURWLSRTXDQWLGDGHHORFDOL]DomRGRVOHLWRUHVHUHVSHFWL YDVDQWHQDVFRQWURODGRUHVHWLSRGHWDJVDXVDUGHIRUPDDJDUDQWLUXPDHIHFWLYDFREHUWXUD GHWRGDDiUHDDEUDQJLGD

 $DFWLYLGDGHSURILVVLRQDOSRUTXHRREMHFWLYRpLPSOHPHQWDUHIHFWLYDPHQWHRVFRQKH FLPHQWRVREWLGRVFRPHVWHWUDEDOKR6HHVWHREMHFWLYRIRUDOFDQoDGRVHUiPDLVXPSDVVR QDGLUHFomRGHXPDHIHFWLYDLQWHUOLJDomRHQWUHXPHVWXGRDFDGpPLFRHRPHUFDGRGHWUD EDOKRTXHpWDQWDVYH]HVGLVFXWLGDHQHPVHPSUHSHODVPHOKRUHVUD]}HV

 2UJDQL]DomR

(VWHWUDEDOKRHVWiGLYLGLGRHPQRYHFDStWXORVGHDFRUGRFRPRVYiULRVWHPDVDERUGDGRV GHXPDIRUPDVHTXHQFLDODWpDRREMHFWLYRILQDO 2FDStWXORVHUYHGHLQWURGXomRDRWUDEDOKRDGHVHQYROYHU 2FDStWXORDERUGDDWHFQRORJLDGHFyGLJRGHEDUUDVHDSUHVHQWDDVVXDVSULQFLSDLVYDQ WDJHQVOLPLWDo}HVHYXOQHUDELOLGDGHV 2FDStWXORDERUGDDWHFQRORJLDGH5),'HVHXVFRPSRQHQWHVIXQGDPHQWDLV 2FDStWXORDERUGDDVWDJVGH5),'VXDVFODVVLILFDo}HVFDUDFWHUtVWLFDVHDOLPHQWDomR 2FDStWXORDERUGDDUHGH(3&JOREDOVXDHVWUXWXUDFRPSRQHQWHVHLGHQWLILFDGRUHV 2FDStWXORDERUGDRVSUREOHPDVGHSULYDFLGDGHHVHJXUDQoDOHYDQWDGRVSHODWHFQRORJLD GH5),' 2FDStWXORDERUGDRVSRQWRVSULQFLSDLVDWHUHPFRQWDQDLPSOHPHQWDomRGHXPDLQIUD HVWUXWXUDGH5),'QXPDRUJDQL]DomR 2FDStWXORDSUHVHQWDXPPRGHORGHSRVVtYHOVROXomRSDUDDJHVWmRGHVWRFNVGHSURGX WRVDFDEDGRVGHXPDHPSUHVDGRVHFWRUDJURLQGXVWULDOHUHVSHFWLYDHVWLPDWLYDGHFXVWRV 2FDStWXORDSUHVHQWDDOJXPDVFRQFOXV}HVTXHVHSRGHPWLUDUGHVWDGLVVHUWDomRHRWUD EDOKRIXWXURTXHSUHWHQGRHIHFWXDU 

   

&DStWXOR 



&yGLJRGH%DUUDV

2FyGLJRGHEDUUDVpXPDUHSUHVHQWDomRJUiILFDGHGDGRVTXHSRGHPVHUQXPpULFRVRX DOIDQXPpULFRVGHSHQGHQGRGRWLSRGHFyGLJRGHEDUUDVXWLOL]DGR



6LVWHPDVGH,GHQWLILFDomR$XWRPiWLFD

$,'&$XWRPDWLF,GHQWLILFDWLRQDQG'DWD&DSWXUH(VWHFRQFHLWRHQJOREDXPFRQMXQWR GH PpWRGRV SDUD LGHQWLILFDU ¶REMHFWRV· UHFROKHU LQIRUPDomR DFHUFD GHOHV H IRUQHFHU HVVD LQIRUPDomRDVLVWHPDVGHWUDWDPHQWRGHGDGRVGHIRUPDDXWRPiWLFD (VWHFRQFHLWRHQJOREDDOpPGRFyGLJRGHEDUUDVRXWUDVWHFQRORJLDVFRPR • %LRPHWULD • 2&5²2SWLFDO&KDUDFWHU5HFRJQLWLRQ • 6PDUW&DUGVH&RQWDFW/HVV6PDUW&DUGV • 5),'5DGLR)UHTXHQF\,'HQWLILFDWLRQ

%LRPHWULD  $V FDUDFWHUtVWLFDV ELRPpWULFDV LQGLYLGXDLV VmR XWLOL]DGDV SDUD LGHQWLILFDU XP LQGLYtGXRHFRQFHGHUUHWLUDUSHUPLVV}HV$VDSOLFDo}HVPDLVFRQKHFLGDVGHVWDWHFQRORJLDVmR RUHOyJLRGHSRQWRFRQWURORGHDFHVVRVHDDFWLYDomRGHVHUYLoRVIXQFLRQDQGRDFDUDFWHUtVWL FD ELRPpWULFD VHOHFFLRQDGD FRPR SDVVZRUG $V FDUDFWHUtVWLFDV ELRPpWULFDV LQGLYLGXDLV PDLV XVDGDVVmRDLPSUHVVmRGLJLWDODYR]HDtULV

2&5  2 UHFRQKHFLPHQWR ySWLFR GH FDUDFWHUHV SHUPLWH DWUDYpV GD GLJLWDOL]DomR GH XP WH[WRLPSUHVVRREWHUXPILFKHLURTXHpSRVWHULRUPHQWHWUDWDGRQXPHGLWRUGHWH[WR

&RQWDFWOHVV 6PDUW &DUGV  6mR QRUPDOPHQWH FDUW}HV GH SOiVWLFR TXH LQFRUSRUDP XP PLFURSURFHVVDGRUHPHPyULDTXHSHUPLWHPLPSOHPHQWDUPHFDQLVPRVGHVHJXUDQoDSDUDSUR WHJHUDLQIRUPDomRTXHFRQWrPRXGLVSRQLELOL]DPHSHUPLWLURDFHVVRjVIXQFLRQDOLGDGHVTXH LPSOHPHQWDP DSyV YDOLGDomR (PERUD DV WHFQRORJLDV GH 6PDUW &DUGV H 5),' WHQKDP PXLWR



HP FRPXP VmR QRUPDO GLVWLQJXLODV FRP EDVH QR WLSR GH LQIRUPDomR TXH FRQWrP QtYHO GH VHJXUDQoDTXHLPSOHPHQWDPGLVWkQFLDGHOHLWXUDHiUHDVGHDSOLFDomR

5),'²$LGHQWLILFDomRSRUUiGLRIUHTXrQFLDpXPDWHFQRORJLD$,'&VHPILRVTXHXVDVLQDLV GH UiGLR SDUD UHPRWDPHQWH LGHQWLILFDU XP ¶REMHFWR· DUPD]HQDU RX UHFXSHUDU LQIRUPDomR DFHUFDGHOHJXDUGDGDQXPGLVSRVLWLYRFKDPDGRWDJTXHHVWiFRORFDGRQR¶REMHFWR·

$VWHFQRORJLDVGH$,'&HQFRQWUDPVHKRMHODUJDPHQWHLPSOHPHQWDGDVHPYDULDGDViUHDV GHDFWLYLGDGHHQWUHDVTXDLVVHGHVWDFDPSRQWRVGHYHQGDJHVWmRGHVWRFNVUDVWUHDELOLGD GHORJtVWLFDGLVWULEXLomRDQWLURXERFRQWURORGHDFHVVRVSDJDPHQWRGHWUDQVSRUWHVLGHQWL ILFDomR DQLPDO GRFXPHQWRV GH LGHQWLILFDomR FRQWUROR GH EDJDJHQV WUDFN DQG WUDFH GH REMHFWRVHWF

 )LJXUD²6LVWHPDVGH,GHQWLILFDomR$XWRPiWLFD

²+LVWyULDGR&yGLJRGHEDUUDV

2 FyGLJR GH EDUUDV H UHVSHFWLYR OHLWRU VmR XPD SDWHQWH DWULEXtGD HP  DRV QRUWH DPHULFDQRV-RVHSK:RRGODQGH%HUQDUG6LOYHUTXHDSUHVHQWDUDPXPDPDWUL]GHLGHQWLILFDomR EDVHDGD HP FtUFXORV FRQFrQWULFRV 3RVWHULRUPHQWH -RVHSK :RRGODQG LQVSLURXVH QR FyGLJR 0RUVHTXHXVDSRQWRVHWUDoRVHSURORQJDQGRRVQDYHUWLFDOFULRXRSULPHLURFyGLJRGHEDUUDV OLQHDU>@

$GH-XQKRGHXPSDFRWHGHSDVWLOKDVHOiVWLFDVIRLRSULPHLURSURGXWRLGHQWLIL FDGR QR FKHFNRXW GH XPD ORMD XVDQGR R FyGLJR 83& GDQGRVH DVVLP LQtFLR j DSOLFDomR FRPHUFLDOGHXPDWHFQRORJLDTXHpKRMHXPDUHDOLGDGHRPQLSUHVHQWHQRQRVVRGLDDGLD>@



2 FyGLJR GH EDUUDV p D WHFQRORJLD GH LGHQWLILFDomR DXWRPiWLFD PDLV XVDGD HP WRGR R PXQGRHDVXDSUHVHQoDSRGHVHUHQFRQWUDGDQDVPDLVGLYHUVDViUHDVGHDFWLYLGDGH

$FWXDOPHQWHVmRXVDGDVGXDVVLPERORJLDVGHFyGLJRVGHEDUUDV

• 6LPERORJLDOLQHDURX'TXHXVDEDUUDVYHUWLFDLVGHGLIHUHQWHVODUJXUDVVHSDUDGDV SRUHVSDoRVHPEUDQFRHFXMDUHSUHVHQWDomR*6VHUiDERUGDGDHPPDLRUSURIXQ GLGDGH

• 6LPERORJLD ELGLPHQVLRQDO RX ' TXH XVD DOpP GH EDUUDV SRQWRV TXDGUDGRV H RXWURV VtPERORV H FXMDV UHSUHVHQWDo}HV PDLV FRQKHFLGDV VmR 3') 3RUWDEOH 'DWD)RUPDWH'DWD0DWUL[   )LJXUD²([HPSORVGH3') (VWDWHFQRORJLDGHYHJUDQGHSDUWHGDVXDDFHLWDomRJOREDODRIDFWRGHQDVXDJpQHVHVH HQFRQWUDUHPDVVRFLDo}HVTXHVHSUHRFXSDUDPFRPDLPSOHPHQWDomRGHVWDQGDUGVTXHSXGHV VHP VHU XVDGRV JOREDOPHQWH H RULHQWDGRV D VHFWRUHV GH DFWLYLGDGH (QWUH DV HQWLGDGHV TXH PDLV FRQWULEXtUDP HQFRQWUDPVH D 83&& 8QLIRUP 3URGXFW &RGH &RXQFLO UHVSRQViYHO SHOR FyGLJR 83& 8QLYHUVDO 3RVW &RGH H TXH GDULD RULJHP j 8&& 8QLIRUP &RGH &RXQFLO D $,0 $VVRFLDWLRQIRU$XWRPDWLF,GHQWLILFDWLRQDQG0RELOLW\HD($1(XURSHDQ$UWLFOH1XPEHULQJ

(PDIXVmRHQWUHD8&&HD($1GHXRULJHPDXPDQRYDHQWLGDGHD*6TXHJHUHR XVRJOREDOGRVVLVWHPDVEDVHDGRVHPFyGLJRGHEDUUDV

µO Sistema GS1 é um conjunto de Normas integradas abertas e globais, reconhecidas internacio-nalmente, para a gestão eficiente das cadeias de valor multi-sectoriais, baseada numa identificação úni-ca e inequívoúni-ca de produtos, unidades de expedição, activos, loúni-calizações e serviços, que agiliza todos os processos comerciais, incluindo o comércio electrónico e a rastreabilidade.¶>@

 )D]HPSDUWHGD*6DVVHJXLQWHVHQWLGDGHV • *6%DU&RGHV²1RUPDVJOREDLVSDUDLGHQWLILFDomRDXWRPiWLFD • *6H&RP²1RUPDVJOREDLVSDUDPHQVDJHQVHOHFWUyQLFDVFRPHUFLDLV • *6*'61²$PELHQWHSDUDVLQFURQL]DomRJOREDOGHGDGRV • *6(3&JOREDO²1RUPDVJOREDLVSDUDLGHQWLILFDomRSRUUiGLRIUHTXrQFLD (P3RUWXJDODHQWLGDGHTXHUHSUHVHQWDYDD(XURSHDQ$UWLFOH1XPEHULQJ$VVRFLDWLRQHUDD &RGLSRUTXHFRPDFULDomRGD*6SDVVRXDVHUGHVLJQDGDSRU*63RUWXJDO&2',325

 $&RGLSRU²$VVRFLDVVmR3RUWXJHVDGH,GHQWLILFDomRH&RGLILFDomRGH3URGXWRVIRLIXQGDGD HPeXPDRUJDQL]DomRSULYDGDVHPILQVOXFUDWLYRVIRUPDGDSRULQGXVWULDLVGLVWULEXLGR UHVHSUHVWDGRUHVGHVHUYLoRV    )LJXUD²ÉUHDVGHLPSOHPHQWDomRGHQRUPDV*6>

@

$FDGDDVVRFLDGDGD*6pDWULEXtGRXPFyGLJRGHHQWLGDGH&RPSDQ\3UHIL[TXHDLGHQ WLILFDXQLYRFDPHQWHHPWRGRRPXQGR2VWUrVSULPHLURVGtJLWRVGRFyGLJRGHHQWLGDGHLQGL FDPRSDtVGHRULJHP6HJXHPVHTXDWURFLQFRRXVHLVGtJLWRVTXHLGHQWLILFDPDHPSUHVD$ DWULEXLomRGHTXDWURFLQFRRXVHLVGtJLWRVDRFyGLJRGDHPSUHVDGHSHQGHGRQ~PHURGHGtJL WRVGHTXHHODYDLQHFHVVLWDUSDUDDFRGLILFDomRGRVLWHQVTXHFRPHUFLDOL]D 



²,GHQWLILFDGRUHV*6&yGLJRGH%DUUDV

1D EDVH GR VLVWHPD HVWmR XP FRQMXQWR GH LGHQWLILFDGRUHVFKDYH H GDGRV DGLFLRQDLV TXH SHUPLWHPDLQWHUOLJDomRHQWUHRFyGLJRGHEDUUDVHDVEDVHVGHGDGRVTXHFRQWrPDLQIRUPD omRFRPSOHPHQWDU 2VLGHQWLILFDGRUHVFKDYHRXGDGRVSULPiULRVVmRDTXHOHVTXHLGHQWLILFDPDSHQDVRSURGX WRRXVHUYLoRHTXHVmRXVDGRVHPWUDQVDFo}HVFRPHUFLDLV

2V GDGRV DGLFLRQDLV RX LGHQWLILFDGRUHV DSOLFDFLRQDLV $,V VmR DTXHOHV TXH LQWHUYrP QRV SURFHVVRVGHSURGXomRDUPD]HQDPHQWRHGLVWULEXLomRGHPHUFDGRULDV 2VLGHQWLILFDGRUHVFKDYHVmR~QLFRVPXOWLVHFWRULDLVHLQWHUQDFLRQDLV ,GHQWLILFDGRUHVFKDYHPDLVXWLOL]DGRVQRFyGLJRGHEDUUDV • *7,1²*OREDO7UDGH,WHP1XPEHU • */1²*OREDO/RFDWLRQ1XPEHU • 66&&²6HULDO6KLSSLQJ&RQWDLQHU&RGH • *5$,²*OREDO5HWXUQDEOH$VVHW,GHQWLILHU • *,$,²*OREDO,QGLYLGXDO$VVHW,GHQWLILHU



*7,1

2*7,1LGHQWLILFDXPLWHPPHUFDGRULDRXVHUYLoRDFHUFDGRTXDOpQHFHVViULRREWHU LQIRUPDomRDGLFLRQDODUPD]HQDGDQDEDVHGHGDGRVGRVLVWHPDLQIRUPiWLFRSDUDSURFHGHUj WUDQVDFomRSUHWHQGLD 2*7,1WDQWRSRGHVHUDSOLFDGRDRQtYHOGRLWHP*7,1H*7,1FRPRDRQtYHOGD HPEDODJHP*7,1





)LJXUD²(VWUXWXUDGHGDGRV*7,1>@  (VWDHVWUXWXUDGHGDGRVVHUYHGHFKDYHGHDFHVVRjVEDVHVGHGDGRVGRVVLVWHPDVLQIRUPi WLFRVTXDQGRMXVWLILFDGDjGLUHLWDQXPFDPSRGHGtJLWRVQXPpULFRV

$R FRQWUiULR GR *7,1 H GR *7,1 TXH p GD UHVSRQVDELOLGDGH GD RUJDQL]DomR TXH LQWURGX]DVPHUFDGRULDVRXVHUYLoRVQRPHUFDGRR*7,1pDWULEXtGRSHOD*6RXVHXUHSUH VHQWDQWHOHJDO









*/1

2*/1pFRPSRVWRSRUGtJLWRVTXHLGHQWLILFDPXPDORFDOL]DomRGHQWURGHXPDHQWLGD GHDVVRFLDGDGD*6QRUPDOPHQWHXPDUPD]pPHpDWULEXtGDSHOD*6RXSHORVHXUHSUH VHQWDQWHOHJDO







)LJXUD²(VWUXWXUDGHGDGRV*/1>@

²66&&

(VWHLGHQWLILFDGRUpFRPSRVWRSRUGtJLWRVHSHUPLWHLGHQWLILFDUXQLYRFDPHQWHXPDXQL GDGHORJtVWLFDGHVWLQDGDDRWUDQVSRUWHRXDUPD]HQDPHQWRHSRGHVHUPRQRSURGXWRRXPXOWL SURGXWR$VXQLGDGHVORJtVWLFDVPDLVXVDGDVVmRDSDOHWHHRFRQWHQWRU   )LJXUD²(VWUXWXUDGHGDGRV66&&>@

²*5$,

(VWHLGHQWLILFDGRUpFRPSRVWRSRUXPPi[LPRGHFDUDFWHUHVTXHVHGHVWLQDPDLGHQWL ILFDU RV DFWLYRV UHWRUQiYHLV GH XPD HPSUHVD 2 WHUPR QRUPDOPHQWH XVDGR SDUD R DFWLYR UHWRUQiYHOpWDUDUHWRUQiYHOHUHIHUHVHDHPEDODJHQVRXXQLGDGHVXVDGDVQRWUDQVSRUWHGDV PHUFDGRULDVTXHVmRUHXWLOL]iYHLVHSRVVXHPYDORUFRPHUFLDO   )LJXUD²(VWUXWXUDGHGDGRV*5$,>@

*,$,

(VWHLGHQWLILFDGRUpFRPSRVWRSRUXPPi[LPRGHFDUDFWHUHVTXHVHGHVWLQDPDLGHQWL ILFDUXPDFWLYRIL[RGHXPDHPSUHVD8PDFWLYRLQGLYLGXDOpXPEHPFRPFDUiFWHUGXUDGRXUR TXHGHYHVHULGHQWLILFDGRLQGLYLGXDOPHQWHSDUDFRQWURORGRLPRELOL]DGRFRUSyUHR





)LJXUD²(VWUXWXUDGHGDGRV*,$,>@

²&KHFN'tJLWR

2 FKHFN GtJLWR RX GtJLWR GH FRQWUROR p XP GtJLWR FDOFXODGR IXQomR GRV GtJLWRV

DQWHULRUHVHGHVWLQDVHDGHWHFWDUSRVVtYHLVHUURVGHFRGLILFDomRRXGLJLWDomR

3DUDFDOFXODURFKHFNGtJLWRGHXPQ~PHUR

•

1XPHUiPRVRVGtJLWRVGHVVHQ~PHURGDGLUHLWDSDUDDHVTXHUGD

•

$WULEXtPRVDRVGtJLWRVtPSDUHVXPSHVR

•

$WULEXtPRVDRVGtJLWRVSDUHVXPSHVR

•

&DOFXOiPRVRVRPDWyULRGDVSDUFHODVLQGLYLGXDLVSHVDGDV

•

6XEWUDtPRV DR P~OWLSOR GH  PDLRU RX LJXDO DR VRPDWyULR R YDORU GR

VRPDWyULR

•

2UHVXOWDGRGDVXEWUDFomRpRFKHFNGtJLWR





)LJXUD²&iOFXORGRFKHFNGtJLWR    )LJXUD²([HPSORGH&yGLJR($1  $QDOLVDQGRRFyGLJR($1DSUHVHQWDGRSRGHPRVFRQFOXLUTXH • 2LWHPIRLSURGX]LGRHP3RUWXJDO

 • 2&RPSDQ\3UHIL[DWULEXtGRSHOD*6&RGLSRUp • 2FyGLJRGRLWHPp • 2FKHTXHGtJLWRp

($1²RX*6

2VLGHQWLILFDGRUHVFKDYHVmRQXPpULFRVHQHFHVVLWDPPXLWDVYH]HVGHVHUFRPSOHPHQ WDGRVFRPLQIRUPDo}HVFRQWLGDVQRXWURVLGHQWLILFDGRUHV $FRQFDWHQDomRHQWUHLGHQWLILFDGRUHVpLPSOHPHQWDGDQRFyGLJR*6²FRPUHFXUVR DRXVRGH$,V$SOLFDWLRQ,GHQWLIHLHUV 2*6²GHULYDGR&RGHTXHpXPFyGLJRDOIDQXPpULFR1XPFyGLJR*6²SRGH PRV WHU YiULDV OLQKDV GH FyGLJRV GH EDUUDV TXH VH FRPSOHPHQWDP &DGD OLQKD QmR GHYH WHU PDLVTXHFDUDFWHUHVHVHR66&&IRUXVDGRQXPFyGLJR*6²GHYHUiVHULQFRUSRUDGRLVR ODGDPHQWHQD~OWLPDOLQKDGRVFyGLJRVGHEDUUDV   )LJXUD([HPSORGH(WLTXHWD/RJtVWLFD*6



²2&yGLJRGH%DUUDVQD&DGHLDGH$EDVWHFLPHQWR

'DFDGHLDGHDEDVWHFLPHQWRID]HPSDUWHWRGDVDVHQWLGDGHVTXHGHVGHDSURGXomRDWp DRFRQVXPRFRRSHUDPQRSURFHVVDPHQWRGDVPHUFDGRULDV 2VLQWHUYHQLHQWHVQDFDGHLDGHDEDVWHFLPHQWRID]HPXPXVRLQWHQVLYRGRFyGLJRGHEDU UDVHDFRGLILFDomRXWLOL]DGDpQRUPDOPHQWHD*6(VWDFRGLILFDomRDWUDYpVGRXVRGH $,VSHUPLWHFRQFDWHQDUYiULDVLQIRUPDo}HVQXPD~QLFDHWLTXHWDFRPLQIRUPDo}HVUHIHUHQWHV DRFRQWH~GRHjHPEDODJHPHPTXHHVWiFRODGD



$R ORQJR GH XPD OLQKD GH SURGXomR p SRVVtYHO REVHUYDU D DSOLFDomR GH YiULRV WLSRV GH FyGLJRVGHEDUUDV

• 1R LWHP LQGLYLGXDO TXH YDL VHU YHQGLGR DR FRQVXPLGRU ILQDO p FRORFDGR QRUPDO PHQWHXPFyGLJRGHEDUUDV*6TXHLUiVHUOLGRQRSRQWRGHYHQGD • 8PFRQMXQWRGHLWHQVLQGLYLGXDLVpQRUPDOPHQWHDJUXSDGRQXPDHPEDODJHPSDUD IDFLOLWDURPDQXVHDPHQWRHDEDVWHFLPHQWRGRVUHWDOKLVWDV1DHPEDODJHPpFROR FDGRQRUPDOPHQWHXPFyGLJRGHEDUUDV*6RX,7)GHSHQGHQGRDHVFROKD GRFyGLJRGRPDWHULDOHPTXHpIHLWDDLPSUHVVmRHTXHYDLVHUOLGRQRFKHFNRXW GRJURVVLVWDTXDQGRHOHDYHQGHDRUHWDOKLVWD • 1RILPGDOLQKDGHSURGXomRXPFRQMXQWRGHHPEDODJHQVpQRUPDOPHQWHDJUXSD GR GDQGR RULJHP D XPD SDOHWH TXH UHFHEH XP FyGLJR GH EDUUDV *6 FRP R 66&& GD SDOHWH H RXWUDV LQIRUPDo}HV (VWH FyGLJR GH EDUUDV YDL DFRPSDQKDU H LGHQWLILFDUXQLYRFDPHQWHDSDOHWHGXUDQWHWRGRRVHXWHPSRGHYLGDSHUPLWLQGR D WRGRV RV LQWHUYHQLHQWHV QRV SURFHVVRV SRU RQGH YDL SDVVDQGR XPD IRUPD VLP SOHVUiSLGDHILiYHO GHLGHQWLILFDomRVH QLQJXpP IDOVLILFDURXGHVWUXLU HVVDHWL TXHWD

$SHVDUGHR66&&LGHQWLILFDUXQLYRFDPHQWHXPDSDOHWHQmRIRUQHFHTXDOTXHULQIRUPDomR DFHUFD GR VHX FRQWH~GR RX GHVWLQR R TXH p IXQGDPHQWDO SDUD RV YiULRV LQWHUYHQLHQWHV QD FDGHLDGHDEDVWHFLPHQWR3DUDIRUQHFHUHVVDLQIRUPDomRDGLFLRQDOpXVDGRRFyGLJRGHEDUUDV *6²FRPUHFXUVRD$,V ([LVWHPPDLVGH$,VTXHSRGHPVHULQFRUSRUDGRVQXPDHWLTXHWD2V$,VGHYHPVHUFUL WHULRVDPHQWHVHOHFFLRQDGRVSDUDIRUQHFHUDLQIRUPDomRQHFHVViULD   )LJXUD²$OJXQVGRV$,VPDLVXWLOL]DGRV>

@

  



9DQWDJHQVGR&yGLJRGH%DUUDV

$LQWURGXomRGHVWDWHFQRORJLDWHYHXPLPSDFWRHQRUPHQDVPDLVGLYHUVDViUHDVGHDFWLYL GDGHPDVIRLQRSRQWRGHYHQGDTXHHVVHLPSDFWRIRLPDLVVHQWLGR (VWDWHFQRORJLDGHYHRVHXHQRUPHVXFHVVRD • ([LVWrQFLDGHVWDQGDUGVDFHLWHVDQtYHOPXQGLDO • 7HFQRORJLDSHUIHLWDPHQWHHVWDELOL]DGD • 6LPSOLFLGDGHGDLQIUDHVWUXWXUDQHFHVViULDOHLWRULPSUHVVRUDFRPSXWDGRUHUHV SHFWLYRVRIWZDUH • %DL[RFXVWRGHLPSOHPHQWDomRHPDQXWHQomR

• $ VXD LPSOHPHQWDomR QmR WHP TXDOTXHU LPSDFWR QHJDWLYR QR QRUPDO IXQFLRQD PHQWRGDHPSUHVD • 1mRH[LJHTXDOTXHUIRUPDomRDGLFLRQDOGRVRSHUDGRUHV • (YLWDHUURVGHGLJLWDomR • *DQKRVGHSURGXWLYLGDGHLPHGLDWRVHIDFLOPHQWHPHQVXUiYHLV • )LDELOLGDGHGRVLVWHPD • $OWHUQDWLYDVLPSOHVHPFDVRGHDYDULDHPPXLWDVVLWXDo}HV • ,PXQHDRPDWHULDOHPTXHpFRORFDGD • ,PXQHDLQWHUIHUrQFLDHOHFWURPDJQpWLFD • ,VHQWDGHOHJLVODomRUHVWULWLYDDSOLFDGDSHORVGLYHUVRVSDtVHV • 7HFQRORJLDGHFULDomRGHHWLTXHWDVGHFyGLJRGHEDUUDVVLPSOHVHEDUDWD • ,VHQWDGHFRQWHVWDomR

9XOQHUDELOLGDGHVH/LPLWDo}HV

(VWD WHFQRORJLD DSHVDU GDV VXDV HQRUPHV YDQWDJHQV WHP DOJXPDV YXOQHUDELOLGD GHVOLPLWDo}HVTXHFRQGLFLRQDPDVXDXWLOL]DomR

• )DFLOPHQWHIDOVLILFiYHOSRLVQmRSRVVXLTXDOTXHUPHFDQLVPRGHVHJXUDQoD • $ JHQHUDOLGDGH GDV HWLTXHWDV GH FyGLJR GH EDUUDV VmR LPSUHVVDV VREUH SDSHO RX

FDUWmRTXHVmRPDWHULDLVGHVXSRUWHIUiJLORTXHID]FRPTXHDVHWLTXHWDVVHWRU QHPLQ~WHLVSRUGHWHULRUDomRGRPDWHULDOHPTXHVmRLPSUHVVDV • )DFLOPHQWHVXMHLWDVDDFWRVGHYDQGDOLVPRMiTXHHVWmRQRUPDOPHQWHDFHVVtYHLVH VmRIiFHLVGHLQXWLOL]DUEDVWDXVDUXPDHVIHURJUiILFDPDUFDGRUQDYDOKDHWF • 6HQVtYHOjFRUGRIXQGRVREUHTXHpLPSUHVVD • 6HQVtYHODRPDWHULDOVREUHTXHpLPSUHVVD • $LQIRUPDomRFRQWLGDQXPDHWLTXHWDGHFyGLJRGHEDUUDVpHVWiWLFDHDIRUPDGH DDFWXDOL]DUpFRODUXPDQRYDHWLTXHWD$TXDQWLGDGHGHHWLTXHWDVTXHVHFRODP QXPDHPEDODJHPpXPDIRQWHSRWHQFLDOGHHUURVHSHUGDGHWHPSRSDUDHVFROKHU DHWLTXHWDFRUUHFWD

 • 4XDQWLGDGHGHLQIRUPDomRTXHWUDQVSRUWDPpPXLWROLPLWDGDQDVLPERORJLD' • 1mRLGHQWLILFDXQLYRFDPHQWHXPLWHPQDVLPERORJLD'TXHpDXVDGDQDHVPDJD GRUDPDLRULDGDVVLWXDo}HV • 7UDFNLQJPDQXDO • 3DUDTXHXPFyGLJRGHEDUUDVSRVVDVHUOLGRWHPTXHHVWDUHPOLQKDGHYLVWDFRP ROHLWRU • $GLVWkQFLDHQWUHROHLWRUHRFyGLJRGHEDUUDVDVHUOLGRpPXLWRSHTXHQDP • 2V OHLWRUHV VHP ILRV SURSRUFLRQDP XPD PHOKRU PRELOLGDGH DR RSHUDGRU PDV

TXDQGRHQJOREDGRVQXPSURFHVVRRQOLQHRVHXUDLRGHDFomRYDULDQRUPDOPHQWH HQWUHRVWUrVHRVFLQFRPHWURVGHGLVWkQFLDjEDVHWrPFXVWRVPXLWRPDLVHOHYD GRVTXHRVOHLWRUHVFRPILRVHHVWmRVXMHLWRVDLQWHUIHUrQFLDV • $OXPLQRVLGDGHDPELHQWHSRGHDIHFWDUDFDSDFLGDGHGHOHLWXUD • (PWDSHWHVWUDQVSRUWDGRUHVpQHFHVViULRPDQWHURVLQFURQLVPRHQWUHRWHPSRGH GLVSDURGRIHL[HGHOHLWXUDRWHPSRHPTXHRIHL[HGHOHLWXUDVHPDQWpPDFWLYR HDYHORFLGDGHGRWDSHWHSDUDTXHDOHLWXUDVHMDHIHFWXDGD • 8POHLWRUVySRGHOHUXPFyGLJRGHEDUUDVGHFDGDYH]

• 2 WHPSR GH DFFLRQDPHQWR HQWUH OHLWXUDV FRQVHFXWLYDV SRGH LQWURGX]LU DWUDVRV QXPDOLQKDGHWUDQVSRUWH

• 2VFyGLJRVGHEDUUDVVmRPXLWDVYH]HVLPSUHVVRVQDOLQKDGHSURGXomRQmRH[LV WLQGR QRUPDOPHQWH TXDOTXHU VLVWHPD GH FRQILUPDomR GD YDOLGDGH GR FyGLJR LPSUHVVRUD]mRSHODTXDOTXDOTXHUHUURGHLPSUHVVmRVypGHWHFWDGRDSRVWHULRUL FRPWRGDVDVFRQVHTXrQFLDVUHVXOWDQWHV GDH[LVWrQFLDGH XPFyGLJRLQYiOLGRHP WRGRVRVSURFHVVRVDMXVDQWH • $DILQDomRGDVLPSUHVVRUDVpQRUPDOPHQWHXPIDFWRUFUtWLFRQXPDOLQKDGHSUR GXomRGDGDDHOHYDGDFDUJDGHWUDEDOKRDTXHHVWmR VXMHLWDVHDRDPELHQWH HP TXHRSHUDP

• $ OHLWXUD p QRUPDOPHQWH HIHFWXDGD PDQXDOPHQWH HVWDQGR SRUWDQWR GHSHQGHQWH GRRSHUDGRU

   

&DStWXOR 

5),'²5DGLR)UHTXHQF\,GHQWLILFDWLRQ

5),'5DGLR)UHTXHQF\,GHQWLILFDWLRQpXPDWHFQRORJLD$,'&VHPILRVTXHXVDVLQDLVGH UiGLRSDUDUHPRWDPHQWHLGHQWLILFDUXP¶REMHFWR·DUPD]HQDUHUHFXSHUDULQIRUPDomRDFHU FDGHOHJXDUGDGDQXPGLVSRVLWLYRFKDPDGRWDJTXHHVWiFRORFDGDQR¶REMHFWR· (VWDWHFQRORJLDWHPVXEMDFHQWHXPQRYRFRQFHLWRGHLQGLYLGXDOL]DomRQDLGHQWLILFDomR GRVREMHFWRVHPHVPRGRVVHXVFRQVWLWXLQWHV

$+LVWyULD

$WHFQRORJLD5),'WHPDVXDRULJHPQD,,*XHUUD0XQGLDO,QJOHVHV$OHPmHVH-DSRQHVHV XWLOL]DYDPRVVHXVUDGDUHVSDUDVDEHUHPFRPDQWHFHGrQFLDTXHDYL}HVVHDSUR[LPDYDPPDV QmRLGHQWLILFDYDPVHHUDPDPLJRVRXLQLPLJRV 2VDOHPmHVGHVFREULUDPTXHVHRSLORWRQDURWDGHDSUR[LPDomRJLUDVVHRVHXDYLmRR VLQDOGHUHWRUQRHUDDOWHUDGR(VWHVLPSOHVSURFHGLPHQWRDYLVDYDRVFRQWURODGRUHVGHTXHVH WUDWDYDGHXPDYLmRDOHPmR(VWHpFRQVLGHUDGRRSULPHLURVLVWHPDSDVVLYRGH5),'>@

6RE R FRPDQGR GH 6LU 5REHUW :DWVRQ:DWW TXH p FRQVLGHUDGR R LQYHQWRU GR UDGDU RV LQJOHVHV GHVHQYROYHUDP XP GLVSRVLWLYR TXH HUD FRORFDGR QRV VHXV DYL}HV $ HVVH GLVSRVLWLYR GHUDPRQRPHGH,))²,GHQWLILFDWLRQ)ULHQGRU)RH(VWHGLVSRVLWLYRHUDXPWUDQVSRQGHUTXH UHVSRQGLDDRVVLQDLVHQYLDGRVSHODHVWDomRGHUDVWUHLR6HRDYLmRUHVSRQGLDHUDFRQVLGHUDGR DPLJRVHQmRUHVSRQGLDHUDFRQVLGHUDGRLQLPLJR>@

$ KLVWyULD GD 5),' FRPHoD YHUGDGHLUDPHQWH HP  TXDQGR R DPHULFDQR 0DULR : &DGXOOR FRQVHJXH D SDWHQWH GH XP GLVSRVLWLYR DFWLYR GH 5),' FRP PHPyULD UHJUDYiYHO 1R VHXSHGLGRGHSDWHQWHDOpPGDGHVFULomRWpFQLFDHQJOREDYDWDPEpPiUHDVGHDSOLFDomRGR VHXLQYHQWRHXPDGHODVpPXLWRVHPHOKDQWHjQRVVDDFWXDOYLDYHUGH>@



20HUFDGRGH5),'

6HJXQGRRUHODWyULR5),')RUFDVWV3OD\HUV 2SSRUWXQLWLHVHODERUDGRSHOD ,'7HFK([DSUHVHQWDPVHDOJXQVYDORUHVHSUHYLV}HVTXHGmRXPDGLPHQVmRGRYDORUHGLQD PLVPRGRPHUFDGRPXQGLDOGH5),'  7DEHOD²9DORUGRPHUFDGRGH5),'>@  7DEHOD²1~PHURHPPLOK}HVGHWDJVSDVVLYDVSRUiUHDGHDFWLYLGDGH>

@

  7DEHOD²9DORUHPPLOK}HVGH86GHWDJVSDVVLYDVSRUiUHDGHDFWLYLGDGH>@



7DEHOD²9DORUGDV7DJVHPSRUUDPRGHDFWLYLGDGH>@

&RQVFLHQWHGDLPSRUWkQFLDGHVWHVHFWRUD8(ODQoRXRSURMHFWR%5,'*(%XLOGLQJ5DGLR IUHTXHQF\,GHQWLILFDWLRQ6ROXWLRQVIRUWKH*OREDO (QYLURQPHQWTXHWHYHLQtFLRHP-XOKRGH  FRP XPD GXUDomR GH WUrV DQRV HQYROYHX  SDUFHLURV WHYH XP LQYHVWLPHQWR GH  PLOK}HVGHHXURVHXPFRILQDQFLDPHQWRFRPXQLWiULRGHPLOK}HVGHHXURV>@   7DEHOD²9DORUGRPHUFDGRGH5),'SRUUHJLmR>@   )LJXUD1~PHURGH/HLWRUHV5),'&RPHUFLDOL]DGRVH3UHYLV}HV>@

    )LJXUD²3HUVSHFWLYDVGHHYROXomRGRPHUFDGRGH5),'²+DUGZDUH>@ 

(VWDV WDEHODV H JUiILFRV LQGLFLDP VHP TXDOTXHU G~YLGD TXH H[LVWH XPD WHQGrQFLD GH DFHLWDomR GHVWD WHFQRORJLD SHOR PHUFDGR HP TXH XP FUHVFLPHQWR DQXDO VXSHULRU D  p HVSHUDGR SDUD RV SUy[LPRV  DQRV SHOD JHQHUDOLGDGH GRV DQDOLVWDV 4XDQWR j UHDOLGDGH QDFLRQDOQmRIRLSRVVtYHOHQFRQWUDUYDORUHVILiYHLV

$DQiOLVHGDVYHQGDVGH3ULQWHU(QFRGHUVLQGLFD TXHDVVPDUWODEHOVYmRVHUXPDRSomR PXLWRLPSRUWDQWHQRWLSRGHWDJDDGRSWDUHXPDDQiOLVHGRVVHFWRUHVTXHHVWmRSUHGLVSRVWRV D DGHULU D HVWD WHFQRORJLD IRUQHFHP LQGLFDo}HV PXLWR LPSRUWDQWHV VREUH DV iUHDV GH PDLRU FUHVFLPHQWRGDWHFQRORJLD5),' $FRPSOHPHQWDULGDGHTXHDVHPSUHVDVSUHWHQGHPDGRSWDUHQWUHDVWHFQRORJLDVGHFyGLJR GHEDUUDVH5),'pXPLQGLFDGRUPXLWRLPSRUWDQWHGDVLQFHUWH]DVTXHKRMHVmRDSUHVHQWDGDVH GDSHQHWUDomRHVSHUDGDSDUDHVWDWHFQRORJLD

3ULQFLSDLVÉUHDVGH$SOLFDomR

$FKHJDGDGDWHFQRORJLDGH5),'DRJUDQGHS~EOLFRpUHODWLYDPHQWHUHFHQWHPDVHODHVWi KRMHSUHVHQWHHPPXLWDViUHDVGHDFWLYLGDGHFRPXPDTXRWDGHPHUFDGRTXHQmRFHVVDGH FUHVFHU

$SHVDU GDV HQRUPHV SRWHQFLDOLGDGHV GHVWD WHFQRORJLD D SULQFLSDO UD]mR GD VXD DGRSomR QmR GHULYD GH XPD DWLWXGH YROXQWiULD GD JHQHUDOLGDGH GDV HPSUHVDV PDV GD GHFLVmR GH



DOJXQVJUDQGHVSOD\HUVGRPHUFDGRTXHDLPSXVHUDPDRVVHXVIRUQHFHGRUHVFRPRpGHPRQV WUDGR SHOR JUiILFR GD ILJXUD  (VWmR QHVWH FDVR HPSUHVDVRUJDQL]Do}HV TXH SHOR SHVR HVSHFtILFRTXHSRVVXHPQRPHUFDGRWrPXPJUDQGHSRGHUGHDUUDVWR'HHQWUHHVVDVHPSUH VDVRUJDQL]Do}HVGHVWDFDPVH

• :DO0DUW2DQ~QFLRIRLHIHFWXDGRHPSHORJUXSRQRUWHDPHULFDQRXPGRV

PDLRUHVUHWDOKLVWDVPXQGLDLVTXHGHXLQVWUXo}HVDRVVHXVIRUQHFHGRUHVSDUDTXH XVDVVHP WDJV GH 5),' HP WRGDV DV SDOHWHV FDL[DV H RXWUDV HPEDODJHQV XVDGDV SDUD IRUQHFHU DV UHVSHFWLYDV PHUFDGRULDV (VWD p XPD IDVH LQWHUPpGLD Mi TXH R REMHFWLYRILQDOpDLGHQWLILFDomRGRVDUWLJRVQRSRQWRGHYHQGD

• 'R'8PDJUDQGHFRQWULEXLomRSDUDDFUHGLELOLGDGHYLVLELOLGDGHHSRWHQFLDOLGD

GHVGDWHFQRORJLD5),'IRLDVXDDGRSomRSHOR'R''HVGHHQDVHTXrQFLD GD2SHUDomR7HPSHVWDGHQR'HVHUWRDVIRUoDVDUPDGDVGRV(8$WrPHPIXQFLR QDPHQWR XPD GDV PDLRUHV UHGHV GH 5),' D QtYHO PXQGLDO_{2 VLVWHPD 5),' ,Q}

7UDQVLW 9LVLELOLW\ 5),79 SURSRUFLRQD XP DFHVVR LPHGLDWR D LQIRUPDo}HV VREUH WRGD D VXD FDGHLD ORJtVWLFD WDQWR GH HTXLSDPHQWRV FRPR GH DEDVWHFLPHQWRV PHOKRUDQGRGHVWDIRUPDDVHJXUDQoDHDFDSDFLGDGHGHUHVSRVWD'HVGH-DQHLUR GH  WRGRV RV IRUQHFLPHQWRV HQWUHJXHV QRV GRLV JUDQGHV FHQWURV ORJtVWLFRV 6DQ -RDTXLQ &DOLIRUQLD H 6XVTXHKDQQD 3HQQV\OYDQLD GDV IRUoDV DUPDGDV GRV (8$WrPTXHVHULGHQWLILFDGRVDWUDYpVGHXPDWDJ5),'>@   )LJXUD²²3ULQFLSDLVUD]}HVSDUDDGRSomRGDWHFQRORJLD5),'HPQRV(8$>

@

 $SUHVHQWDPRVDJRUDDOJXPDVHPSUHVDVGHGLIHUHQWHViUHDVGHDFWLYLGDGHTXHDGRSWDUDP VROXo}HVGH5),'

 • $HURQiXWLFD²$LUEXVFRPHoRXSRUXVDUDWHFQRORJLDSDUDLGHQWLILFDUIHUUDPHQ WDVQDOLQKDGHPRQWDJHPHPXLWRUHFHQWHPHQWHH[SDQGLXDDRKLVWyULFRGDV SHoDVVXMHLWDVDPDQXWHQomR>@ • 9HVWXiULR²5LFD/HZLVXVDXPDVPDUWODEHOHPWRGDVDVMHDQVTXHLQWURGX]QR PHUFDGRSDUDHYLWDUDFRQWUDIDFomRJHULURVVWRFNVQDVORMDVREWHUGDGRVVREUH DVYHQGDVHSRGHUSURJUDPDUDSURGXomR>@ • $XWRPyYHO²,YHFRXVDDWHFQRORJLD5),'SDUDJHULUHDXWHQWLFDUDVSHoDVVREUHV VDOHQWHVTXHLQWURGX]QRPHUFDGRGHVWLQDGDVjPDQXWHQomRGRVFDPL}HVTXH IDEULFD>@ • 4XtPLFD²%$6)XVDDWHFQRORJLDSDUDORFDOL]DUHFRQWURODUDVFRQGLo}HVGH WUDQVSRUWHGHSURGXWRVTXtPLFRVSHULJRVRV>@ • $OLPHQWDU²/DYD]DXVDVPDUWODEHOVHPWRGDVDVSDOHWHVGHFDIpTXHLQWURGX] QRPHUFDGR$WDJpXVDGDHVVHQFLDOPHQWHSDUDFRQWURORLQWHUQRGHVWRFNVHD PHVPDLQIRUPDomRpWDPEpPIRUQHFLGDHPFyGLJRGHEDUUDVGHIRUPDDHVWDU GLVSRQtYHOHPTXDOTXHUGRVIRUPDWRVDWRGRVRVLQWHUYHQLHQWHVQDFDGHLDGH DEDVWHFLPHQWR>@ • 6D~GH0LVVLVVtSL%ORRG6HUYLFHQREDQFRGHVDQJXHHVHXVGHULYDGRVGRHVWDGR GR0LVVLVVtSLpFRORFDGDXPDWDJHPWRGDVDVHPEDODJHQVGHVDQJXHTXHVmRUHFR OKLGDVGRVGDGRUHVFRPDLQIRUPDomRQHFHVViULDSDUDFRQWURODURVVHXVVWRFNVH SRGHUVDWLVID]HURVSHGLGRVGHPDLVGHFLQTXHQWDKRVSLWDLVGHTXHpUHVSRQViYHO SHORDEDVWHFLPHQWRGHVDQJXHHVHXVGHULYDGRVHHYLWDUHUURVQRPDQXVHDPHQWR >@ • )DUPDFrXWLFD²3IL]HUXVDXPDWDJFRQMXQWDPHQWHFRPHSHGLJUHHSDUDFRPED WHUDFRQWUDIDFomRGRVHXSURGXWR9LDJUDHFRQWURODUWRGDDFDGHLDGHDEDVWHFL PHQWR>@ • 3URGXomR²0LFKHOLQXVDGHVGHXPDWDJHPEHELGDHPPXLWRVGRVSQHXV TXHIDEULFD(VWDWDJDOpPGHFRQWHUWRGDDLQIRUPDomRWpFQLFDVREUHRSQHX SRGHVHUDFWXDOL]DGDQDVRILFLQDVSHUPLWLQGRDVVLPVDEHUDPDWUtFXODHRXWURV GDGRVGDYLDWXUDHPTXHIRLPRQWDGRHIRUQHFHUDRIDEULFDQWHGDGRVLPSRUWDQWHV VREUHDYLGDGRSQHXHFRQWURODUDUHFLFODJHPGRPHVPR>@ • 'HVSRUWR²1DVJUDQGHVPDUDWRQDVDQtYHOPXQGLDOpQRUPDOTXHRVDWOHWDVVHMDP FRQWURODGRVDWUDYpVGHXPDWDJTXHpFRORFDGDQRGRUVDORXQDVDSDWLOKD$WDJ VHUYHSDUDFRQWURODURSHUFXUVRGRDWOHWDWHPSRVSDUFLDLVHWHPSRILQDO>

@

 • $JUR3HFXiULD²QDLQG~VWULDDJURSHFXiULDYiULDVHVSpFLHVVmRFRQWURODGDVDWUD YpVGHXPDWDJ5),'TXHUHJLVWDXPFRQMXQWRGHGDGRVVREUHRDQLPDOHYDLVHQ GRDFWXDOL]DGDVHPSUHTXHRDQLPDOPXGDGHSURSULHWiULRpYDFLQDGRRXVXMHLWR DRXWURVWUDWDPHQWRVYHWHULQiULRV$WDJDFRPSDQKDRDQLPDODRORQJRGRVHX FLFORGHYLGDDWpDRDEDWHVHQGRDVXDLGHQWLGDGHFRQILUPDGDHPWRGRVRVFRQ

 WURORVDTXHpVXMHLWR,GrQWLFRSURFHGLPHQWRpDGRSWDGRHPUHODomRDDQLPDLV GRPpVWLFRVFRPRFmHVHJDWRVSHUPLWLGRDWDJDOpPGRFRQWURORVDQLWiULRLGHQWL ILFDURVHXSURSULHWiULRHPFDVRGHH[WUDYLR • 0RELOLiULR²$HPSUHVDSRUWXJXHVD9LFDLPDXVDXPDWDJ8+)(3&&ODVV*HQ SDUDFRQWURODURSURFHVVRGHIDEULFRHRVWRFNGDVSRUWDVTXHSURGX]>@ • %LOKpWLFD²(VWDiUHDGHDFWLYLGDGHID]XPJUDQGHXVRGHVROXo}HVGH5),'2 $QGDQWHpXPDVROXomRGHPRELOLGDGHEDVHDGDHP5),'XVDGDQDÉUHD0HWURSROL WDQDGR3RUWRSDUDDVXDUHGHGHWUDQVSRUWHVS~EOLFRV 



)LJXUD²-HDQV5LFD/HZLVFRPVPDUWODEHO>@ 

$V H[LJrQFLDV DFWXDLV GR PHUFDGR LPSOLFDP TXH WRGRV RV LQWHUYHQLHQWHV QXP SURFHVVR WHQKDP DFHVVR RQOLQH j LQIRUPDomR QHFHVViULD jV UHVSHFWLYDV DFWLYLGDGHV TXH VmR FRPSOH PHQWDUHVSRGHQGRGHVWHPRGRLQWHUYLUVREUHRSURFHVVRRXDFWLYDUSODQRVDOWHUQDWLYRVFDVR VHYHULILTXHTXDOTXHUDQRPDOLDQRSODQHDPHQWRHVWDEHOHFLGR

2PRGHORGHJHVWmRGHVWRFNVDGRSWDGRSRUPXLWDVHPSUHVDVLPSOLFDTXHXPDWUDVRQmR SUHYLVWRHPTXDOTXHUSRQWRGDFDGHLDGHDEDVWHFLPHQWRSRVVDWHUFRQVHTXrQFLDVJUDYHVSDUD WRGRV RV LQWHUYHQLHQWHV QR SURFHVVR SRGHQGR PHVPR OHYDU j VXVSHQVmR GD ODERUDomR GH DOJXPDVXQLGDGHV(VWDVLWXDomRPRVWUDRYDORUFDGDYH]PDLRUTXHDLQIRUPDomRWHPSDUDD VRFLHGDGHHPTXHYLYHPRVHDQHFHVVLGDGHGHLPSOHPHQWDUPHFDQLVPRVWHQGHQWHVDPLQLPL ]DU RV LPSDFWRV QHJDWLYRV GH VLWXDo}HV LPSUHYLVWDV $ LPSOHPHQWDomR GH SURFHGLPHQWRV GH WUDFNDQGWUDFHpMiXPDSUiWLFDFRUUHQWHHPPXLWDVHPSUHVDVGDFDGHLDGHDEDVWHFLPHQWR



6WDQGDUGV5),'

'HYLGRjVXDUHODWLYDMXYHQWXGHjIRUPDFRPRIRLLQWURGX]LGDQRPHUFDGRHjVFDUDFWH UtVWLFDVLQWUtQVHFDVjSUySULDWHFQRORJLDDTXDQWLGDGHGHVWDQGDUGVH[LVWHQWHVHDOHJLVODomR GHFDGDSDtVJHUDPPXLWDFRQIXVmRQDDGRSomRGHVWDWHFQRORJLD3RGHPRVGLYLGLURVSURWR FRORVHPWUrVOD\HUV>@

• 'DWD /LQN /D\HU ² 'HVFUHYHP RV PHFDQLVPRV GH DQWLFROLVmR LQLFLDOL]DomR FRQ WH~GRHHQGHUHoDPHQWRGDVWDJV • 3K\VLFDO/D\HU²'HVFUHYHPDVFRPXQLFDo}HVHQWUHDVWDJVHRVOHLWRUHVGH5),' • $SSOLFDWLRQ/D\HU²'HVFUHYHPFRPRRVVWDQGDUGVVmRDSOLFDGRVQDVWDJVTXHVmR LQWURGX]LGDVQRPHUFDGRHDVUHVSHFWLYDVFRQIRUPLGDGHV

$LU,QWHUIDFH3URWRFRO²,62,(&

>@



$IDPtOLDGHVWDQGDUGV,62,(&GHILQHRVSDUkPHWURVGDVFRPXQLFDo}HVOHLWRUїWDJ HWDJїOHLWRUTXHVmRDSOLFDGRVDFDGDIUHTXrQFLDSDUDDLGHQWLILFDomRGHLWHQV

• ,62,(&  ² 'HILQH JHQHULFDPHQWH D DUTXLWHFWXUD FRQFHLWRV H SDUkPHWURV QHFHVViULRVSDUDDWURFDGHGDGRVYLDLQWHUIDFHDpUHR

• ,62,(&²'HILQHRLQWHUIDFHDpUHRSDUDGLVSRVLWLYRVGH5),'TXHIXQFLR QDP DEDL[R GRV  .+] H SRGH WHU GRLV WLSRV GH IXQFLRQDPHQWR 1R WLSR $ DV FRPXQLFDo}HVHQWUHOHLWRUHWDJVmRIXOOGXSOH[HIXQFLRQDPD.+]1RWLSR% DVFRPXQLFDo}HVVmRKDOIGXSOH[HSRGHPIXQFLRQDUDRX.+]

• ,62,(&²²'HILQHRLQWHUIDFHDpUHRSDUDDIUHTXrQFLDGH0+]HGHV FUHYH GRLVPRGRVGHIXQFLRQDPHQWR TXHQmRLQWHUIHUHP QHPVmRLQWHUPXWiYHLV 1R PRGR  H[LVWH D SRVVLELOLGDGH GH EORTXHDU SHUPDQHQWHPHQWH D PHPyULD GD WDJVHPTXHRFRPDQGRGHORFNVHMDSURWHJLGRSRUSDVVZRUG1RPRGRDH[HFX omRGRFRPDQGRORFNpSURWHJLGDSRUSDVVZRUG

• ,62,(&²²'HILQHRLQWHUIDFHDpUHRSDUDDIUHTXrQFLDVGH*+]HGHV FUHYH GRLV PRGRV GH IXQFLRQDPHQWR 2 PRGR  GHVFUHYH R IXQFLRQDPHQWR ,7) ,QWHUURJDWRU7DONV)LUVWSDUDWDJVSDVVLYDV2PRGRGHVFUHYHRIXQFLRQDPHQWR 77)7DJ7DONV)LUVWSDUDWDJVDFWLYDV

• ,62,(& ² ² (VWH VWDQGDUG GHILQLD R LQWHUIDFH DpUHR SDUD D IUHTXrQFLD GH *+]PDVIRLGHVFRQWLQXDGR

• ,62,(&²²'HILQHRLQWHUIDFHDpUHRXVDGRQDEDQGD8+)HQWUHRVHRV  0+] 'HVFUHYH WUrV PRGRV GH IXQFLRQDPHQWR H UHVSHFWLYRV SURFHGLPHQWRV DQWLFROLVmRXVDGRVSDUDDVLQJXODUL]DomRGDVWDJV2PRGR&pDDSURYDomRSHOR ,62GDHVSHFLILFDomR(3&JOREDO*HQHGHVFUHYHRDOJRULWPR3UREDELOLVWLF6ORWWHG $ORKDSDUDVLQJXODUL]DomRGDVWDJV2PRGR$GHVFUHYHRDOJRULWPR)UDPHG6ORW WHG$/2+$SDUDVLQJXODUL]DomRGDVWDJV2PRGR%GHVFUHYHRDOJRULWPR'HWHUPL QLVWLF%LQDU\7UHHSDUDVLQJXODUL]DomRGDVWDJV

 • ,62,(&²(VWHLQWHUIDFHGHVFUHYHRLQWHUIDFHDpUHRSDUDDIUHTXrQFLDGH 0+] 

2XWURVVWDQGDUV5),'

>@



$OpPGDIDPtOLDGHVWDQGDUGV,662,(&RXWURVVWDQGDUGVVmRDSOLFDGRVHP5),' • ,62²3UR[LPLW\FDUGVTXHXVDPDIUHTXrQFLDGH0+]HWrPXPDOFDQ FHPXLWRSHTXHQRDOJXQVFPHVmRXVDGRVSHORVLVWHPDILQDQFHLURSDUDRVVHXV FDUW}HV • ,62²&RQWDFWOHVVFDUGVRX9LFLQLW\FDUGVTXHXVDPDIUHTXrQFLDGH 0+]HWrPXPDOFDQFHLQIHULRUDXPPHWUR • ,62XVDGRVSDUDLGHQWLILFDomRDQLPDO • ,62GHVFUHYHDVFDUDFWHUtVWLFDVGDVWDJVTXHVHUYHPGHVHORSDUDFRQWURORH ORFDOL]DomRHOHFWUyQLFDGRVFRQWHQWRUHVXVDGRVQDFDGHLDGHDEDVWHFLPHQWR 4XDOTXHUYLRODomRGRVHORGHYHVHUJXDUGDGDHWUDQVPLWLGD • ,62,(&GHVFUHYHRGHVHPSHQKRTXHRVOHLWRUHVHWDJVGHYHPDSUHVHQWDUH RVWHVWHVDHIHFWXDUSDUDPHGLUHVVHGHVHPSHQKR • ,62,(&GHVFUHYHDFRQIRUPLGDGHSDUDXPDIUHTXrQFLDHVSHFtILFD • ,62,(&HGHVFUHYHPRVWHVWHVGHFRQIRUPLGDGHSDUDGLVSRVLWLYRV 57/6 • ,62GHILQHDVHVSHFLILFDo}HVGHXPVLVWHPDGH5),'SDUDRVHFWRUOLYUHLUR • ,62,(&GHVFUHYHRVFRPDQGRVUHVSRVWDVHGDGRVGDDSOLFDomRXVDGRVQR SURFHVVRGHFRPXQLFDomRHQWUHOHLWRUHWDJ • ,62,(&GHVFUHYHRSURFHVVRGHFRGLILFDomRHGHVFRGLILFDomRGRVGDGRV JUDYDGRVQDWDJ 'DHQXPHUDomRGHDOJXQVGRVVWDQGDUGVH[LVWHQWHVSDUD5),'FRQFOXLVHTXHH[LVWHXP JUDQGHGLQDPLVPRPDVDSUROLIHUDomRGHVWDQGDUGVVHFWRULDLVHSRVWXUDVQDFLRQDLVVmRXP HQWUDYHDXPDYHUGDGHLUDDFHLWDomRJOREDOGHVWDWHFQRORJLD

&RPSRQHQWHVGHXP6LVWHPDGH5),'

2VSULQFLSDLVFRPSRQHQWHVGHXPVLVWHPD5),'VmRWDJV5),'OHLWRUHV5),'DQWHQDVH (QWHUSULVH6XEV\VWHPTXHHVWmRUHSUHVHQWDGRVQD)LJXUD

7DJ 5),' 7UDQVSRQGHU ² 'LVSRVLWLYR GH LGHQWLILFDomR FRQVWLWXtGR SRU XP FKLS H XPD DQWHQDTXHpDSOLFDGRQXP¶REMHFWR·HXVDXPVLQDOGHUiGLRIUHTXrQFLD5)SDUDFRPXQLFDU

/HLWRU 5),' WUDQVFHLYHU ² 'LVSRVLWLYR XWLOL]DGR SDUD FRPXQLFDU FRP D WDJ IRUQHFHU LQIRUPDomR j WDJ UHFXSHUDU D LQIRUPDomR DUPD]HQDGD QD WDJ H HVWDEHOHFHU FRPXQLFDo}HV FRPRPLGGOHZDUHGRHQWHUSULVHVXEV\VWHP



(QWHUSULVH6XEV\VWHP²,QWHUOLJDRVGLYHUVRVFRPSRQHQWHVGRVLVWHPDGHJHVWmRGDLQIRU PDomRGDHPSUHVDUHFHEHDLQIRUPDomRTXHYDLVHUSURFHVVDGDHGLVSRQLELOL]DGDDRVUHVSHF WLYRVSURFHVVRVXWLOL]DGRUHV

20LGGOHZDUHpUHVSRQViYHOSHORLQWHUIDFHHQWUHRVLVWHPDHVSHFtILFRGH5),'FRPSRVWR SRU OHLWRUHV WDJV H UHVSHFWLYD LQIUDHVWUXWXUD GH FRPXQLFDo}HV H R VLVWHPD GH JHVWmR GD HPSUHVDeHOHTXHLQFRUSRUDRVRIWZDUHTXHSHUPLWHRUHJLVWRGDVFRPXQLFDo}HVHQWUHWDJH OHLWRU VROLFLWD DV LQIRUPDo}HV QHFHVViULDV j EDVH GH GDGRV H IRUQHFH HVVDV LQIRUPDo}HV DR OHLWRUSDUDTXHHOHSRVVDGLDORJDUFRPDWDJUHFHEHDVLQIRUPDo}HVGROHLWRUTXHGHYHJXDU GDUHDFWXDOL]DDVEDVHVGHGDGRVPDQWHQGRRVLQFURQLVPRHQWUHWRGRVRVLQWHUYHQLHQWHVQR SURFHVVR

2$QDO\WLF6\VWHPVpUHVSRQViYHOSHODVDOYDJXDUGDGDLQIRUPDomRTXHOKHpIRUQHFLGD SHOR 0LGOZDUH SURFHVVDU HVVD LQIRUPDomR H GLVSRQLELOL]iOD DRV GLYHUVRV XWLOL]DGRUHV TXH GHODQHFHVVLWDPeWDPEpPRUHVSRQViYHOSRUIRUQHFHUDRPLGGOHZDUHDLQIRUPDomRQHFHV ViULDjFRPXQLFDomRHQWUHOHLWRUHWDJ  )LJXUD&RPSRQHQWHVGHXPVLVWHPDGH5),'>@ 

/HLWRUHVGH5),'

2VOHLWRUHVGH5),'VHUYHPSDUDREWHUDLQIRUPDomRFRQWLGDQDWDJRXDOWHUDUHVVDLQIRU PDomR$LQIRUPDomRREWLGDGDWDJpHQYLDGDDRPLGGOHZDUHSDUDVHUSURFHVVDGD$LQIRUPD omRUHFHELGDGRPLGGOHZDUHVHUYHSDUDWHUPLQDUFRQWLQXDURSURFHVVRGHLQTXpULWRjWDJRX JUDYDULQIRUPDomRQDWDJ



3DUDTXHROHLWRUHDWDJSRVVDPFRPXQLFDUGHYHPVXSRUWDURPHVPRSURWRFRORGHFRPX QLFDo}HV

([LVWHPWUrVWLSRVGHOHLWRUHVTXDQWRjPRELOLGDGH

• )L[RV ² 1RUPDOPHQWH PRQWDGRV QRV FDLV GH FDUJDGHVFDUJD SyUWLFRV H RXWUDV HVWUXWXUDVIL[DV

• 0yYHLV²1RUPDOPHQWHPRQWDGRVHPHTXLSDPHQWRVXVDGRVQRWUDQVSRUWHGDVPHU FDGRULDVFRPRSRUWDSDOHWHVHHPSLOKDGRUHV

• +DQGKHOG²8WLOL]DGRVSHORVRSHUDGRUHVTXHID]HPDOHLWXUDGHWDJVHVHGHVORFDP GH XPD IRUPD PDLV RX PHQRV DOHDWyULD RX VmR XWLOL]DGRV HP VLWXDo}HV GH IDOKD GRVRXWURVOHLWRUHV

'HHQWUHDVFDUDFWHUtVWLFDVTXHXPOHLWRUGHYHSRVVXLUGHVWDFDPVH

• 8VR GH YiULRV PpWRGRV GH PRGXODomR WDQWR QD HPLVVmR FRPR QD UHFHSomR VHP TXDOTXHUDOWHUDomRDRKDUGZDUH

• 3RVVLELOLGDGH GH DOWHUDUDFWXDOL]DU DV IXQFLRQDOLGDGHV GR OHLWRU SRU DFWXDOL]DomR GRUHVSHFWLYRVRIWZDUH • 3RVVLELOLGDGHGHVHOHFFLRQDUDIUHTXrQFLDHPRGRGHIXQFLRQDPHQWRPDLVDGHTXD GRVjVFRQGLo}HVGHWUDEDOKR • &DSDFLGDGHGHGHWHFWDUHHYLWDULQWHUIHUrQFLDVSURYRFDGDVSRUOHLWRUHVRXRXWURV HTXLSDPHQWRVGHFRPXQLFDo}HVDRSHUDUQRPHVPRPHLRDPELHQWH • )OH[LELOLGDGHQDVHOHFomRHJHVWmRGDIUHTXrQFLDGHIXQFLRQDPHQWR • (PVLWXDo}HVGHFROLVmRFRPRXWURVOHLWRUHVGHYHGLPLQXLUGHXPDIRUPDDXWRPi WLFDDVXDSRWrQFLDGHHPLVVmRGHXPGHWHUPLQDGRIDFWRUSDUDHYLWDUDRFRUUrQFLD GHFROLV}HV 1RSURFHVVRGHGLiORJRHQWUHOHLWRUHVHWDJVWUrVVLWXDo}HVSUREOHPiWLFDVSRGHPRFRUUHU • ,QWHUIHUrQFLDHQWUHOHLWRUHVLPSHGLQGRTXHXPDWDJVHMDLGHQWLILFDGD • $UHVSRVWDVLPXOWkQHDGHYiULDVWDJVDXPOHLWRULPSHGLQGRDLGHQWLILFDomRGDWDJ • $LGHQWLILFDomRVLPXOWkQHDGHXPDWDJSRUYiULRVOHLWRUHV 

,QWHUIHUrQFLDHQWUH/HLWRUHV



$ H[LVWrQFLD GH YiULRV OHLWRUHV QR PHVPR DPELHQWH H D FDSDFLGDGH GH PRELOLGDGH GH DOJXQVWLSRVGHOHLWRUHVSRGHPSURYRFDULQWHUIHUrQFLDHQWUHRVOHLWRUHVGHXPDUHGHSHORTXH pQHFHVViULRFRRUGHQDUDVUHVSHFWLYDVFRPXQLFDo}HVGHIRUPDDHYLWDULQWHUIHUrQFLDVP~WXDV ([LVWHP GLYHUVRV SURFHGLPHQWRV SDUD WHQWDU UHVROYHU HVWH SUREOHPD H D PDLRU SDUWH p LPSOHPHQWDGD SRU VRIWZDUH R TXH SHUPLWH R XVR GH GLYHUVRV VWDQGDUGV QR PHVPR HTXLSD PHQWRLQWHURSHUDELOLGDGHHIDFLOLGDGHGHDFWXDOL]DomR

$JHQHUDOLGDGHGDVVROXo}HVEDVHLDPVHHPPHFDQLVPRVVWDQGDUGGHPXOWLSOH[DJHPHRV IDEULFDQWHVGHOHLWRUHVLPSOHPHQWDPDVVROXo}HVTXHFRQVLGHUDPPDLVYDQWDMRVDV



• )'0$ ² )UHTXHQF\ 'LYLVLRQ 0XOWLSOH $FFHVV ² $ ODUJXUD GH EDQGD p GLYLGLGD HP YiULRVFDQDLVHROHLWRUDOWHUDGHFDQDOHPLQWHUYDORVGHWHPSRIL[RV • 7'0$²7LPH'LYLVRQ0XOWLSOH$FFHVV²8PHVSDoRWHPSRUDOpGLYLGLGRHPYiULRV LQWHUYDORVHFDGDOHLWRUXVDXPGHVVHVLQWHUYDORVSDUDWUDQVPLWLU • &60$²&DUULHU6HQVH0XOWLSOH$FFHVV²2FDQDOpHVFXWDGRDQWHVGDWUDQVPLVVmR 6HRFDQDOHVWLYHUOLYUHpHIHFWXDGDDWUDQVPLVVmRVHRFDQDOHVWLYHURFXSDGRVHUi QRYDPHQWHHVFXWDGRDSyVXPFHUWRLQWHUYDORGHWHPSR 2VOHLWRUHVQXPGHWHUPLQDGRHVSDoRSRUH[HPSORXPDUPD]pPSRGHPHVWDULQWHUOLJD GRVDWUDYpVGHXPFRQWURODGRUFHQWUDOJHULGRVHPFRQMXQWRHH[HFXWDURVPHVPRVFRPDQGRV VLPXOWDQHDPHQWH 3RGHP DVVLP VHU SRVWRV HP HVFXWD H WHUPLQDU R HVWDGR GH HVFXWD DR PHVPRWHPSR$JHVWmRFHQWUDOL]DGDSHUPLWHWDPEpPDWULEXLUGLQDPLFDPHQWHFDQDLVDRVOHL WRUHVRSWLPL]DQGRGHVWDIRUPDRXVRGDEDQGDGHIUHTXrQFLDVGLVSRQtYHOHPLQLPL]DQGRDV FROLV}HV

2UDLRGHDFomRQRUPDOGHXPOHLWRUpGHFHUFDGHPQRHQWDQWRDJHQHUDOLGDGHGDV DSOLFDo}HV QmR QHFHVVLWDP GHVWD GLVWkQFLD GH OHLWXUD 8P FDLV GH FDUJDGHVFDUJD WHP QRU PDOPHQWHPGHODUJXUDSHORTXHVHGLPLQXLUPRVDSRWrQFLDGHHPLVVmRGLPLQXtPRVRVHX UDLRGHDFomRHDVSUREDELOLGDGHVGHLQWHUIHUrQFLDVHQWUHRVOHLWRUHVGLPLQXHP

6LQJXODUL]DomRGDV7DJV



1RUDLRGHDFomRGHXPOHLWRUSRGHPFRH[LVWLUYiULDVWDJVHTXDQGRXPOHLWRUHIHFWXDXP LQYHQWiULR VH YiULDV WDJV UHVSRQGHP DR OHLWRU RFRUUHP FROLV}HV 2V OHLWRUHV LPSOHPHQWDP DOJRULWPRV SDUD LQGLYLGXDOL]DU DV WDJV H DOJXQV VWDQGDUGV LQGLFDP PHVPR R SURWRFROR DQWL FROLVmRDDGRSWDU([LVWHPGRLVSURWRFRORVHPTXHVHEDVHLDPDJHQHUDOLGDGHGDVLPSOHPHQ WDo}HV$ORKDHÉUYRUH%LQiULD

%DVHDGRVHP$ORKD



>@



2 SURWRFROR $ORKD IRL GHVHQYROYLGR QD GpFDGD GH  QD 8QLYHUVLGDGH GR +DYDL SDUD UHGHVUiGLRHWHPFRPRSULQFtSLRDWUDQVPLVVmRGDLQIRUPDomRSRUXPDHVWDomRVHPSUHTXH WHPDOJRSDUDHQYLDU6HPSUHTXHpGHWHFWDGDXPDFROLVmRDHVWDomRUHWUDQVPLWHDLQIRUPD omRDSyVHVSHUDUGXUDQWHXPSHUtRGRGHWHPSRDOHDWyULR 'HYLGRDRHOHYDGRQ~PHURGHFROLV}HVUHJLVWDGDVQDUHGHIRUDPDSDUHFHQGRRXWURVSURWR FRORVEDVHDGRVQR$ORKDFRPRREMHFWLYRGHDXPHQWDUDVXDHILFLrQFLD • 6ORWWHG$ORKD • )UDPHG6ORWWHG$ORKD • '\QDPLF)UDPHG6ORWWHG$ORKD • (QKDQFHG'\QDPLF)UDPHG6ORWHG$ORKD 

 1RSURWRFROR)UDPHG6ORWWHG$ORKDRWHPSRpGLYLGLGRHPIUDPHVHFDGDIUDPHHPVORWV 1RLQtFLRGHFDGDIUDPHROHLWRUSHGHDLGHQWLILFDomRGDVWDJVHLQGLFDRQ~PHURGHVORWVGLV SRQtYHLVSDUDUHVSRVWDGDVWDJV&DGDWDJVHOHFFLRQDDOHDWRULDPHQWHXPVORWHUHVSRQGHQHVVH VORW6HPDLVTXHXPDWDJUHVSRQGHQRPHVPRVORWRFRUUHXPDFROLVmRHDVWDJVQmRSRGHP VHULGHQWLILFDGDVHWrPTXHVHOHFFLRQDUXPQRYRVORWQRIUDPHVHJXLQWHHYROWDUDUHVSRQGHU 1RVVORWVHPTXHUHVSRQGHDSHQDVXPDWDJHVVDWDJpLGHQWLILFDGD$VWDJVMiLGHQWLILFDGDV QmRUHVSRQGHPQDVIUDPHVVHJXLQWHV2SURFHVVRUHSHWHVHDWpTXHWRGDVDVWDJVVHMDPLGHQ WLILFDGDV 2GHVFRQKHFLPHQWRGDSRSXODomRGHWDJVDLGHQWLILFDUHDPRURVLGDGHGRSURFHVVRUHSUH VHQWDPXPDJUDQGHOLPLWDomRjSHUIRUPDQFHGHVWHSURWRFRORSHORTXHYiULDVDOWHUDo}HVWrP VLGR LQWURGX]LGDV SDUD DXPHQWDU D YHORFLGDGH GH OHLWXUD Mi TXH QD SUHVHQoD GH XP JUDQGH Q~PHURGHWDJVDOJXPDVSRGHPQmRVHULGHQWLILFDGDVHHVWDVLWXDomRSRGHWHUFRQVHTXrQFLDV JUDYHV +iOHLWRUHVTXHSHUPLWHPSDUDPHWUL]DURQ~PHURGHVORWVDXVDUQ~PHURPi[LPRPtQL PRHPpGLRGHWDJVQRUDLRGHDFomRGROHLWRUHRXWURVSDUkPHWURVGHIRUPDDRSWLPL]DUR FLFORGHLGHQWLILFDomRGDVWDJVSHUPLWLQGRDVVLPTXHDYHORFLGDGHGHLGHQWLILFDomRDXPHQWH HTXHXPPDLRUQ~PHURGHWDJVSRVVDPVHULGHQWLILFDGDV   )LJXUD)UDPHG6ORWWHG$ORKD>@

%DVHDGRVHPÉUYRUH%LQiULD

>@



1RVSURWRFRORVEDVHDGRVQHVWHDOJRULWPRROHLWRULQWHUURJDLWHUDWLYDPHQWHXPVXEJUXSR GHWDJVTXHSRVVXHPXPDGHWHUPLQDGDFDUDFWHUtVWLFDDWpTXHWRGDVDVWDJVVHMDPLGHQWLILFD GDV