All suppliers, including the ones who communicate in a clear and timely fashion, and who consistently deliver on time, need to be monitored. Compliance optimization, which includes tracking and identifying performance issues and communicating issues to suppliers, pays off for both parties. When supply chain problems are identified at a detailed level, addressed, and fixed, the retailer-supplier partnership benefits. It becomes more efficient and more profitable.
EDI is the standard format for order processing and tracking in the retail industry. While every major retailer has adopted its use there are plenty of smaller and midsized retailers who haven’t yet got onboard. Fortunately for these companies it isn’t too late to start.
According to eMarketer, the number of smartphone users worldwide will surpass two billion in 2016. Moreover, the company says not only will tablet users number more than one billion in 2015, it projects that figure will reach 1.48 billion by the year 2018.
You already know that IoT (Internet of Things) is a term that identifies items that have enough intelligence and communication abilities to send messages across the internet. Kevin Ashton supposedly coined the phrase "Internet of Things" while working for Procter & Gamble in 1999.
British poet once said, “To err is human; to forgive, divine.” However, when a mistake is made involving a multi-million dollar transaction, even a slight error could transform the most forgiving boss into an angry ogre.
Purchase orders and a cacophony of other documents and forms that comprise your supply chain are the lifeblood of transporting your goods from suppliers to your customers. Fortunately, those documents are relatively simple and straightforward. They usually follow a standardized format and include information that has already been defined and collected. In fact, most retailers create the purchase order sent to a supplier as an EDI document via an automated function completed by the company’s ERP system.
EDI is, by just about any definition, a “mature” information technology. It has a long history, with origins in the planning in the Berlin Airlift, and was used in civilian businesses since as early as 1971, when London’s Heathrow airport started to use it for cargo management.
While “outlier” is normally thought of as a statistical term, it perfectly represents an element of the supply chain that could be (1) physically separate from other elements of the supply chain; (2) culturally different from the rest of the supply chain. “Culturally” might include: language or work methods. Running an outlier tends to cause difficulties to the Supply Chain Management. Let's look at outsourcing as a solution.
Implementing EDI, and subsequently ensuring that a company’s EDI remains compliant, almost always falls upon a company’s IT department, because all of the surface elements of EDI are directly tied to the company’s computer network. Making sure EDI actually streamlines order processing and delivery, however, requires a lot more than installing software and ensuring the network is running smoothly.