After the New York Herald reported that Mark Twain was "grievously ill and possibly dying" in 1897, Twain issued his famous response (which is often misquoted):
"The report of my death was an exaggeration."
Mark Twain could have been talking about EDI 20 years ago. Many thought the Electronic Data Interchange, the standard format used by trading partners to electronically exchange information, would have disappeared by now, replaced by something more "cutting edge."
Obviously, predictions of EDI's demise have been greatly exaggerated.
EDI is still alive and well, but it has become somewhat of a lost art. A number of folks in the retail industry, particularly the younger generation, don't fully understand EDI. Many companies lack in-house EDI expertise and are using very old software that can't be updated to the latest and greatest version of EDI.
That's why the RVCF Fall Conference will take a deep dive into EDI communication in a number of sessions.
Michael Kotoyan, Founder and Instructor at the EDI Academy, will lead six workshops, each focused on a different type of EDI. Michael has more than 15 years of experience in EDI and vendor compliance and has provided training in EDI fundamentals and best practices for more than 600 companies worldwide. His workshops at the Fall Conference will include:
EDI for Finance. This workshop will show you how to implement EDI transactions such as the 820 RA/Payment and the 823 Lockbox. Finance EDI can help you improve productivity and reduce costs and errors in your treasury and accounts receivable departments.
EDI for Inventory. An inventory management system is incomplete without EDI. Learn best practices for EDI transactions such as the 846 Inventory Inquiry/Advice, 947 Warehouse Inventory Adjustment Advice, and the 852 Product Activity Data. This will enable you to provide inventory visibility to your partners and optimize inventory to meet goals for product availability and ROI.
EDI for Sales. Studies show that the data input for about one quarter of Business Intelligence and Decision Support comes from EDI transactions. Learn best practices for implementing the 852 and other EDI-related transactions and watch your sales department reap the rewards.
EDI for E-Commerce. E-commerce EDI usage is exploding. This workshop will show you how to avoid common pitfalls and master transactions such as the 855 PO Acknowledgement, 869 Order Status Inquiry, 870 Order Status Report, and 846 Inventory Inquiry/Advice. Successful e-commerce EDI will help you boost productivity, reduce errors and improve trading partner relationships.
EDI for Transportation. Transportation EDI is very powerful but underutilized. 3PL's, freight carriers, suppliers and retailers can benefit from learning how to manage transactions such as 110 Air Freight Details and Invoice, 204 Load Tender, 210 Invoice, 214 Transportation Carrier Ship. This workshop will show you how to use this information to track shipments and optimize your transportation management system.
Kelvin Takhar, General Manager of Edisoft, will also lead a two-part session entitled 5 Key Principles for Managing EDI Costs. Edisoft is a provider of EDI solutions that are engineered to work seamlessly with the native databases of the most popular accounting systems. Kelvin will share best practices that will help retail suppliers maximize the performance of their omni-channel initiatives.
Part 1 of this session will cover the five principles and how to align them with an effective omni-channel strategy. Kelvin will also discuss tactics used by leading suppliers to manage EDI transaction costs, and how these tactics have delivered measurable results in food and beverage, apparel, electronics, consumer goods and other verticals. Part 2 of this session will be an open forum that will feature discussions about the best way to apply the five key principles for managing EDI costs, and how to overcome three common supply chain challenges.
Another highly anticipated session will show attendees how to maintain accurate data flow when doing business with two of the world's largest online retailers, Walmart.com and Amazon. Suppliers wishing to work with or improve their performance with Walmart.com and Amazon are strongly encouraged to attend this session and understand the complexities of their requirements.
Using glue, string and Band-Aids to squeeze every last drop of usage out of old EDI software won't cut it anymore. To operate more efficiently and effectively, retailers, suppliers and service providers need to understand how data flows work and how to map them.
The great part about these sessions at the RVCF Fall Conference is that we have no hidden agenda. Our only goal is to bring all trading partners to the table to collaborate and share ideas so everyone can take full advantage of EDI. To learn more about these and other sessions at the Fall Conference, please contact Susan Haupt at email@example.com or 646-442-3433.
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