A real benefit that’s often forgotten when it comes to electronic data interchange (EDI) is improved reporting. We all know that EDI reduces the amount of data entry errors, but not as many people leverage that data for reporting. EDI allows you to get accurate insights to make informed, data-driven business decisions.
From tracking the performance of your suppliers to seeing how many orders you’ve sent, we’ve picked three reports all retailers should be using.
Purchase orders with outstanding invoices
EDI feeds invoices directly into your software so you can easily identify which ones are yet to be paid. This data’s important to keep track of a business’ liabilities and financial position. Keeping on top of outstanding invoices will improve your business liquidity and help maintain positive relationships with suppliers.
Order to shipment lag and order fulfillment rate
Advanced shipping notices (ASNs) are sent through EDI when goods are shipped. They let the buyer know what’s sent, when and how. It’s easy to grab this data from EDI messages to measure the amount of time between a purchase order being issued and the goods being shipped, as well as how much of the order has been fulfilled. This data can be used by retailers to measure supplier fulfillment rates, so you know your in-stock position. It’ll also make it easier for you to identify trends in a company’s ability to supply goods.
Purchase order date to receipt of goods date
Having an understanding how long it takes between placing an order and goods being received is imperative for retailers. The good news is retailers can easily track this metric from the data in EDI messages (like receiving an ASN and scanning SSCC labels as goods come in) to monitor supplier delivery in full on time (DIFOT) performance and optimise order management and stock levels.
If you’re interested in improving visibility and gaining valuable insights, request a call from one of our EDI experts.