GS1 Cost and savings calculators for EDI Implementation
Cost and savings calculators are important tools to help companies implementing EDI to determine the investment and return from the implementation. Some GS1 Member Organisations have developed cost
and savings calculators that demonstrate that using GS1 EDI in Healthcare brings competitive advantages.
Manual, paper based processing of business transactions exchanged between trading partners (such as product master data, purchase orders, delivery advices and invoices) leaves much room for human error. It can be very costly and time-consuming. Adopting a standards based approach to paperless trading across all these processes will create business value for your company, your business partners and ultimately the end consumer or end user.
The impact of automated order-to-cash processes in the supply chain is particularly tangible: more fluid stock movements, greater flexibility and accuracy in stock management, improved traceability and better product availability.
To help companies measure the potential savings, GS1 Australia has created the Savings Calculator. The Savings Calculator is a decision-making tool which allows each company to assess the benefits of using GS1 standards based on their own supply chain processes and variables.
Why use the Calculator?
By inputting your own supply chain metrics and allowing the tool to calculate and analyse your probable savings, the Savings Calculator can help you develop a more accurate business case for the further automation of order-to-cash processes in your supply chain. GS1 provides global standards for unique identification, data capture and data sharing that enables the automation of supply chain processes. This automation ensures that business transactions are exchanged and executed in a rapid, efficient and accurate manner.
To learn more about EDI and become a CEDIAP® (Certified EDI Academy Professional), please visit our course schedule page.