• EDIFACT documents

    In 1979, the American National Standards Institute (ANSI) chartered the Accredited Standards Committee (ASC) X12 to develop uniform standards for interindustry electronic exchange of business transactions-electronic data interchange (EDI)

  • Retail Math Formula

     
    Retail math is used in various ways by store owners, logistics managers, vendors, retail buyers and others. It is used to evaluate inventory purchasing plans, analyze sales, add on markup and apply markdown pricing to plan stock purchases, sales and any number of other calculations.
     
    Each of the components required for the use of retail math are carried in within EDI documents traded between retailer and manufacturer (Supplier) with few exceptions. While there is some argument within industry segments as to terminology and formulas - these seem to be the most common.