The concept behind retail is quite basic. People want goods or services, so you sell them to people for a profit. In such a straightforward business, it’s all the small details and logistics that determine success and failure.
As EDI, or Electronic Data Interchange has emerged, this new technology has let retailers make sure their transactions go as smoothly as possible. Instead of having to pass documents back and forth and correspond with your supplier to make sure everyone is on the same page, EDI allows you to see invoices, orders, shipping schedules, and other information instantaneously. This is because EDI software automatically translates your company’s information into your business partners’ systems and sends it electronically, eliminating the need for inputting all that data yourself after you get it by fax or mail.
EDI also works closely with ASN software to create ASNs, or Advance Shipping Notices. ASNs are electronic documents that let you know all the shipping details after your supplier has shipped a product, such as when it was sent, what type of packaging was used, who is carrying the package, and what the product should look like. From a logistical perspective, this allows retailers to be better prepared for receiving packages and providing customer service to buyers who are waiting for their products.
In addition to increasing efficiency and data accuracy, EDI will help retailers cut down on the time and money that is needed for cataloguing orders and information from suppliers.