What is VMI?

Inventory or stock refers to the goods and materials that a business holds for the ultimate goal of resale. Whilst keeping abreast of shop floor replenishment can often represent a significant challenge to retailers, with too much or too little stock causing serious financial burden, Vendor Managed Inventory (VMI) places the responsibility of replenishment and stock restoration … Continued

Topics: Retail, Trading

What is EDI?

EDI (Electronic Data Interchange) refers to the standardised communication method companies use to transact electronic documents to one another. Whilst EDI has been around for decades, recently, with the emergence of Fully Managed Service providers, its effectiveness has reached new heights. Whereas order to invoice lifecycles used to take days and included various steps, such … Continued

Topics: EDI, Retail

The perils of non-compliance

Non-compliance refers to the failure to act in accordance with a wish or demand. Although this doesn’t infer a repercussion, in business terms, failure to comply with customers EDI requirements can often result in loss of business, damaged relationships and chargebacks. In stark contrast to the saying ‘ignorance is bliss,’ companies who trade electronically without … Continued

Topics: EDI, Retail

Don’t lose sight of your suppliers

In meteorology, visibility refers to the distance at which an object can be easily discerned. However, businesses dealing with vast supplier bases within competitive markets need to go beyond just distinguishing who their suppliers are and gain real time visibility into their service, standards and performance. In today’s fast paced retail environment, having control of … Continued