The Use Of EDI In The Business World
EDI, in a nutshell, is a way to communicate facts and figures between computer applications electronically, with little to no input from a real person. It is the backbone of most, if not all eCommerce, and all manner of software exists that can facilitate it, be it via the Internet, email, or even special connections between locations. There is a lot more to EDI than simple transactions and business practices. With the help of EDI, a company is able to learn everything it needs to know about its business, from order statuses to financial transactions, invoice creation, and even inventory between the warehouses of its suppliers and customers. Back before EDI you had to do a much more involved process in order to buy something. You filled out a purchase order, mailed it, and then it gets to the supplier several days later. They manually enter the data into their computers, and the inventory person packs it up and ships it. The invoice is them typed up and printed, and later sent to the customer. It can be extremely cumbersome and time consuming, which is why EDI can really help you cut down the turnaround time. You only have to wait a matter of minutes to get an invoice or a purchase order, allowing for same day shipment of the item you want. What’s more, you do not have to manually enter the order once you get it. EDI can help with these things and more, decreasing labor time and eliminating errors in manual data entry that can lead to inaccurate orders and shipping, not to mention charging. You can work through an order more quickly, allowing you to work on another order right afterward, thus increasing productivity. Processing an order has never been quicker, and there is no backlog in data entry. With the right system, you can put through an order in a single day. According to studies, turnaround time decreases 40% when you implement an automatic system for this type of work. EDI can give you the leg up you need when offering goods to sell, or services to render. Each segment of the transaction can be sped along with the help of EDI, making the customer, the distributor, the seller and the supplier all much happier. Most Fortune 1000 companies have EDI in their systems, and that is not going to change as the years go on.
May 11, 2011 12:12 am | 
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