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How EDI and eCommerce Work With 3PL Partners

Advances in online technology over the last decade have dramatically improved the logistical and operational capabilities of eCommerce businesses in both the B2B and B2C realm. Cloud and mobile computing technologies have further streamlined business processes, including inventory and distribution management. In this regard, let’s…

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How EDI and eCommerce Work With 3PL Partners

Advances in online technology over the last decade have dramatically improved the logistical and operational capabilities of eCommerce businesses in both the B2B and B2C realm. Cloud and mobile computing technologies have further streamlined business processes, including inventory and distribution management. In this regard, let’s examine how EDI and eCommerce work with 3PL partners.

What is EDI and How is it Used?

Electronic Data Interchange (EDI) technology is used to streamline transactions between disparate enterprise systems. EDI Basics defines it this way:

“Electronic Data Interchange is the computer-to-computer exchange of business documents in a standard electronic format between business partners.”

Mainly, EDI solutions are used for B2B transactions, in order to eliminate labor-intensive manual processes that include paper, the postal service, fax machines, and email. EDI is used for sharing documents such as:

    • Purchase orders
    • Invoices
    • Payment documents
    • Shipment notifications
    • Bills of lading
    • Inventory

EDI technology is much older than the cloud ( has been around since the 1970s); EDI solutions have helped businesses streamline their B2B transactions ever since on-premises ERP (without cloud functionality) solutions were the norm.

Today, EDI is still used either as a stand-alone product or as part of a distribution management ERP solution. Stand-alone EDI products can be integrated with accounting software and ERP solutions that don’t have distribution management solutions.

Although eCommerce involves electronic transactions, this isn’t the same as EDI technology. The difference lies in the functionality; EDI automates PO transactions between eCommerce customers, trading partners, dropshipping partners, and 3PL partners for one-time and repeat orders, while eCommerce provides the shopping experience and has limited PO automation functionality.

Basically, most eCommerce businesses use both EDI and eCommerce together to give their customers the option of streamlining their transactions through automation. B2B buyers use EDI solutions to fulfill repeat orders, see inventory levels, and complete the entire procurement process.

eCommerce businesses can also use EDI through their 3PL partner’s solutions. Basically, this means ordering, fulfillment, invoicing, and inventory management are automated and processed by the 3PL partner’s fulfillment software with EDI capabilities.

What Type of eCommerce Businesses Need EDI Solutions?

Medium to large B2B eCommerce businesses selling physical goods need EDI solutions. This usually comes in the form of a distribution management ERP solution, yet can also come as a stand-alone software that’s integrated into ERP or accounting software (with no EDI functionality), or through a 3PL partner’s fulfillment and inventory management solution.

Also, B2B and B2C eCommerce businesses using dropshipping methods or who have trading partners will need EDI solutions to streamline and coordinate the PO process electronically between each party. For instance, an eCommerce business may be selling their products on multiple online platforms, including Amazon, Shopify, and Walmart, and then shipping them through a 3PL partner; EDI is needed to automate ordering and fulfillment processes directly between trading partners, 3PL partners, and customers.

Remember, EDI solutions are needed to translate and process electronic communications between different enterprise systems. When two or more different systems are being used to fulfill PO processes, EDI solutions are needed to translate and process transactions through automation, rather than having the eCommerce business manually process orders and invoices at every stage.

EDI solutions are also used by B2C and B2B eCommerce businesses using a 3PL partner to fulfill and ship orders without using trading partners. If 3PL partners have a software solution with EDI functionality, then eCommerce businesses can offer EDI methods to their direct customers.

Essentially, the only time EDI solutions are not needed is when eCommerce businesses serve only a B2C base and fulfill the orders themselves. In this case, there’s no need for different enterprise systems to communicate electronically with each other, yet the eCommerce business will still need some form of ERP and inventory management software to facilitate and automate their day-to-day business.

An article on MultiChannel Merchant called: “EDI or B2B E-commerce: That is the Question”, written on June 13th, 2016 by Bill Onion, explains the differences between EDI and eCommerce:

“EDI is primarily used to place large recurring orders from the customer side to the vendor side. EDI automates these tasks by removing human intervention and thus increases ordering accuracy and decreases the cost of transactions.

…B2B e-commerce is more than simply capturing customer orders. B2B e-commerce provides you with the opportunity to exhibit your full product or parts range in an attractive and interactive manner.

…Both of these options help to automate the ordering process but deciding the best approach can be a challenge. Overall corporate goals should be considered when making the decision, and remember, sometimes the correct answer is both.”

Young warehouse worker businessman and businesswoman working and looking at tablet and desk computer in a large warehouse

Streamlining Ordering, Fulfillment, and Invoicing Processes

Understanding how EDI and eCommerce work with 3PL partners isn’t as complicated as it may seem. Essentially, eCommerce businesses can have EDI functionality through ERP solutions, 3PL partner solutions, or a stand-alone solution integrated into their accounting or ERP software. Mainly, EDI functionality is needed to streamline ordering, fulfillment, and invoicing processes for larger repeat orders with B2B eCommerce businesses using 3PL and trading partners.

Cloud technology has expanded the functionality of EDI solutions by bringing real-time updates and remote management capabilities. This brings real-time visibility with inventory levels and end-to-end procurement processes, as well as expanding the capabilities of eCommerce businesses to manage and automate ordering, fulfillment, and invoicing processes.

Conclusion

EDI solutions are still needed in our advanced cloud and mobile computing world, especially when 3PL partners and dropshipping options are more readily available to eCommerce businesses. EDI technology still helps disparate enterprise systems communicate through automated controls to complete end-to-end procurement processes.

The main difference now is EDI solutions have integrated with cloud-based SaaS-type solutions to bring the power of the cloud and mobile computing technologies to the electronic data interchange. This gives eCommerce customers the ability to streamline ordering with real-time automation while eliminating manual processes for eCommerce businesses.

EDI technology also coordinates transactions between 3PL partners, trading partners, and dropshipping partners through real-time automation. Both B2B and B2C eCommerce businesses can benefit from this automation and collaboration when their 3PL partners offer EDI functionality within their order and fulfillment software solutions.

Ottawa Logistics utilizes EDI technology within our cloud-based order fulfillment solution. Popular eCommerce platforms can easily be integrated into our solution; daily orders can then be transferred from eCommerce shopping carts to our warehouse to be fulfilled. With our help, the entire procurement process for B2B or B2C customers can be automated and streamlined for optimal results. If interested in learning more please contact us today.

Source: https://www.ottawalogistics.com/ecommerce/edi-ecommerce-3pl-partners/

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SEC Puts $7.6 Million Fine on Crypto Invention Database

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Source: https://cryptobriefing.com/sec-puts-7-6-million-fine-on-crypto-invention-database/

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How Archer Swap Has Helped End Ethereum’s Bidding War

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Most DeFi users have heard of Ethereum’s high congestion issues, but few are aware of the controlling forces operating behind the scenes, and how badly they can be impacted by this single problem. When traders send a regular transaction via the Ethereum network, it is susceptible to attacks from bots or front-running software run by entities seeking to profit from trader activity.

Ethereum’s ecosystem is perhaps amongst the fastest growing in the crypto space. Thus, there are already many solutions that tackle this issue and operate for the benefit of the users and decentralized exchange (DEX) traders. Most of them have gone under the radar.

Archer Swap is part of the Archer DAO, a project with features designed to mitigate the risks associated with sending transactions on Ethereum. It protects users from Miner Extractable Value (MEV) strategies, sandwich attacks, and front-running bots while maintaining a connection with Uniswap and SushiSwap, two of the most popular DEXs on Ethereum.

In this sense, Archer Swap can be described as a DEX extension that enhances the trader experience on these dApps. This protocol combines two powerful sets of features that give traders improved operations on Ethereum – protecting them and making trades more cost-efficient.

The first set of benefits are called Archer MEV Shield. Besides protecting transactions from bot attacks, it allows users to eliminate failed transaction fees, a recurring problem on Ethereum. Traders can also cancel transactions at no additional cost.

The second feature is called Archer Trader Extractable Value (TEV), a proprietary and innovative concept introduced by Archer Swap. Operating within the Archer Relay, Archer TEV uses automated rebalancing transactions with bots to sync market prices when big market moves occur.

After a trade or a big swap, there is usually an arbitrage opportunity in a market. Archer TEV uses these opportunities to capture the value and redistribute it to Archer Swap users. In essence, Archer TEV takes revenue generated by Archer Swap and gives it back to one of the protocol’s core components, the traders.

Archer Swap Launches Campaign To Reward Traders

Following a community vote, Archer DAO recently launched a 6-week campaign to buy back and distribute its native token ARCH. In this way, the protocol can reward early adopters. The tokens will be acquired with the revenue generated by Archer TEV.

The protocol won’t have to touch its treasury reserves to attract new users to the platform. The protocol and the users will benefit – as more users trade on Archer Swap, the campaign will have more resources to acquire and distribute ARCH. Therefore, the token will most likely see an increase in buying pressure during the coming weeks, and the platform will see a surge in the number of users.

Archer DAO will distribute rewards every Friday from June 11th to July 16th, 2021. The platform will calculate rewards for each user based on their transacted volume for each week. The rewards will be delivered automatically and with basically 0 risk for the users, all they need to do is trade.

Archer Swap has had famous trades. In May, during the high of the dog meme coins, the inventor of Ethereum, Vitalik Buterin, used Archer Swap to dump his supply of Shiba Inu (SHIB), AKITA, MIRI, ELON, and others into the market.

The dump served a good cause, as Vitalik used this money to send over $1 billion to different charity organizations. The most notable is the Covid-19 relief campaign for India started by Polygon’s co-founder, Sandeep Nailwal. This trade could be among the most famous in 2021 and was enabled by a protocol whose main objective is to shield its users and give them back the power to operate safely within the Ethereum dark forest.

Source: https://bitcoinist.com/how-archer-swap-has-helped-end-ethereums-bidding-war/?utm_source=rss&utm_medium=rss&utm_campaign=how-archer-swap-has-helped-end-ethereums-bidding-war

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Crypto Crash Trends On Twitter As Bitcoin Falls Below $30,000

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Twitter has gone into a frenzy after bitcoin fell below $30,000 this morning. The hashtag #cryptocrash is currently trending on the platform. This is after the coin broke the $30,000 stronghold and fell below it. A price that has been a stronghold for bitcoin for a while now. Speculations were that as long as the asset didn’t fall below $30,000, then there would be a recovery.

Related Reading | Galaxy Digital CEO: Bitcoin Dips Should Be Bought Despite BitMEX News

Bitcoin has been in a downtrend for a couple of days now. News of mining rigs closing down in China pushing the price even further down. Falling below $30,000 means bitcoin is about to erase its gains for 2021. The coin was trading at $29,001 n December 2020. Only breaking the $30,000 barrier in 2021. Now bitcoin is trading at only 3% gains for the year 2021.

Bear Market Trends

Richard Bernstein was on Trading Nation two weeks ago to talk about the trends in bitcoin. The CEO called bitcoin a bubble. He pointed out that bitcoin was currently in a bull market. Noting that people were leaving the markets that were actually in a bull market behind.

Chart showing bitcoin crash below $30,000

Bitcoin crashes below $30,000 before recovering back up to $32,000 | Source: BTCUSD on TradingView.com

Bitcoin has been struggling for the past two months. This was after the coin finally hit the all-time high of $64k in April. There was a lot of speculation that the coin was headed for $100k. But it seems the asset had other plans.

Analysts have compared this to the 2018 crash. When bitcoin hit a new ATH of nearly $20k and then proceeded to lose 80% of its value. At one point trading at a little over $3k.

There Is Still Hope For Bitcoin

Mike Novogratz was on CNBC earlier to talk about the price drop below $30,000. Novogratz said that while he was less happy than he was at $60,000, he still hopeful about the coin.

Novogratz further explained that calling a bottom on the crash is hard to do. This he attributed to the large liquidations currently taking place across a number of assets.

With regards to the $30,000 price level, Novogratz said, “We’ll see if it holds on the day. We might plunge below it for a while and close above it.”

Related Reading | Over 3 Metric Tons Of Bitcoin Mining Rigs Airlifted Out Of China

The co-founder of Galaxy Digital noted that he wasn’t worried about the price crash. Explaining that he does not expect another crash of the 2017 magnitude to occur again. This he chalked up to the maturity of the ecosystem. Pointing out that much more mature players are now moving into the system.

“Every single bank is working on their own crypto project, how they can get bitcoin to their wealthy clients. I think a lot of clients that didn’t buy it the first time will see this as an opportunity to buy it and get involved.

– Mike Novogratz, CEO of Galaxy Digital

Twitter users have taken to the platform to express their opinions on the current market movements. There are countless tweets asking people to not panic. That the market is going to recover. And right now, it is starting to look like they’re right as the market has gone back into the green. Bitcoin is currently back up to $32k, after a dramatic price drop below $30k.

Featured image from Forbes, chart from TradingView.com

Source: https://bitcoinist.com/crypto-crash-trends-on-twitter-as-bitcoin-falls-below-30000/?utm_source=rss&utm_medium=rss&utm_campaign=crypto-crash-trends-on-twitter-as-bitcoin-falls-below-30000

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