GS1 Connect 2022 is right around the corner! Brands and thought leaders from around the globe will gather to share supply chain best practices and exchange ideas on how to stay ahead of consumer expectations, optimize business efficiency, and enable end-to-end supply chain visibility.
Have your trading partners mandated that your organization achieve EDI (Electronic Data Interchange) compliance? Or are you considering EDI, but remain unsure if the benefits will outweigh the cost of implementation?
Let’s start by examining the time and cost savings delivered by EDI. Did you know that traditional paper transactions that used to take days can be completed electronically in less than an hour? This is why major retailers such as Neiman Marcus, Nordstrom and Dillard’s require suppliers to become EDI compliant and use an electronic catalogue, resulting in reduced order cycle times. For suppliers and distributors, this means that a small investment can generate more sales.
With real-time communication between trading partners and global data sharing provided by EDI, all parties benefit from increased speed and accuracy during transactions. Improved data accuracy helps the entire supply chain become more efficient. Buyers can order goods faster and more easily from suppliers, benefit from quicker delivery times, and take full advantage of higher discounts and better terms of payment. Sellers can benefit from improved cash flow, faster order-to-cash cycles and lower inventory levels, all of which translate into real cost savings.
In addition, the automating of paper-based tasks improves order accuracy and saves time by requiring fewer manual entries. Employees can thereby concentrate on higher-value tasks and be more productive. The real-time processing of important business documents on a secure network leads to less re-working of orders, fewer out-of-stock situations, and fewer cancelled orders.
At the strategic level, InterTrade's Software-as-a-Service (SaaS) solution gives suppliers real-time visibility into transaction statuses. From purchase order receipt to delivery and payment, having complete visibility of each order provides valuable insight and control for buyers. Electronic product catalogues make it simple for suppliers to share their product data with retailers, whether they have one or one million items to sell. This enables faster decision-making and improved responsiveness to market demands. EDI is in fact a vehicle that empowers buyers to standardize and simplify communications between trading partners around the world.
What Makes InterTrade the Best EDI Partner?
- InterTrade’s secure Tier-1 EDI Network (VAN) provides direct access to all partners in the supply chain;
- InterTrade offers dependable B2B expertise in multiple industries;
- InterTrade is fully and securely interconnected to all other major VANs;
- InterTrade enables business partners to quickly connect for efficient, real-time EDI exchanges integrated with their IT systems;
- InterTrade solutions help suppliers achieve compliance with trading partner requirements without investing in specialized EDI hardware, software or staffing;
- InterTrade offers solutions that range from turnkey Web EDI tools to fully managed EDI services;
- InterTrade provides personal client service.