Buy custom how IT aids in vendor relationship in the retail industry
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| Topic: |
Technology
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| Number of pages / Number of words: |
12 / 3297 |
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Some systems may be too costly for small time retailers with low volumes, while some may be inadequate for a multi-billion global conglomerate. Retailers have to work out the benefits and costs of these systems and evaluate the added value IT can bring to their business.
ELECTRONIC DATA INTERCHANGE
Electronic Data Interchange enhances interaction between vendors and retailers, establishing a platform for vendors and retailers to interact so that supply chain management concepts like Just-in-time (JIT), Vendor Managed Inventory (VMI), and Collaborative Planning, Replenishment and Forecasting (CPRF) can be employed...
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EDI structures a set of standards for information to be exchanged electronically from one computer to another or from one firm to another automatically without any human intervention.
CONSIDERATIONS FOR EDI
Traditional EDI can be transmitted in 2 ways: Closed networks using Direct Link Networks and Private/Proprietary Networks and open networks using Value Added Networks (VAN)...
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