Cloud computing and Big Data technologies have created new options for retailers to get their suppliers involved sharing inventory and sales information (POS or Point-Of-Sale) with their vendors. Everyone can get on the same page regarding the business initiative and bring benefits to both the retailer and to its vendors.
Boston and much of the nation’s East Coast might have been buried under piles of snow during the winter of 2015, but the retail industry itself did not get buried. How can that be, considering roads were impassable for days in many areas, freezing temperatures were ideal for snowman survival and people were just plain miserable?
Software analytics let retailers track usage, monitor changes, determine reorders and calculate when and how much to reorder, and check inventory levels on an item-by-item basis. Control of inventory begins right at the cash register: the point-of-sale (POS). Now, inventory records are always up-to-date. This allows better decisions about ordering and merchandising.
It used to be tough to talk EDI with a retailer: “Why should I replace a convenient FAX P/O that goes directly to the keypunch operator with a 'rip and read' document that must go through the data processing department before we ever get it?" The introduction of the electronic invoice caught their attention with faster payments. Now a host of new capabilities are available to help the retailer.
Once we talk about a World class EDI system and couple it with risk and complexity, aren't we thinking of a Supply Chain Control Tower? The SCM control tower is the single point of contact to reduce complexity and risk. And guess what?, EDI is the glue that holds all the participants together.
Build the greatest supplier collaboration system yet, but if your suppliers don't show up and endorse it, you are nowhere. The answer is three steps to bring the suppliers onboard. Plan, Prioritize and be Proactive: the “Three P's”.
Despite the cacophony of technology available today, not all industries have embraced or responded to it as steadily as it has proliferated our lives. Healthcare is one of those industries, although now it’s on the fast track.
Today’s CIO has more on their mind than merely keeping their company’s data safe from hackers, which isn’t easy in light of the lightning speed technology is advancing. Matters such as BYOD, shadow IT, cloud migration and virtualization also tug for attention, but even that’s not everything a CIO has to master.
The onboarding process is not your “core competence” Mr or Ms Retailer. You need to be putting your efforts into sourcing stock and improving your marketing presence and dozens of other projects. Think about outsourcing to experts where ever possible.
EDI is a secure environment. At least that’s the premise that most supply chain professionals work by. And the truth is that for the most part the EDI transaction chain is very secure. But that doesn’t mean there aren’t areas to monitor and steps to take to make certain your assumptions about security are correct… and that your transactions are not going to be compromised.