2024 Grant Opportunities
by Foodbevy and Jamie Green As of May 2024, there are numerous grants and accelerators available for founders globally and in the United States. Below is a list of 75+
This article is sponsored by Crstl, a modern EDI provider for CPG brands that works with any retailer that uses EDI. I recommend them because of their easy to use platform, great customer service, and simple pricing.
As you prepare to showcase your products at Expo West, it’s crucial to understand the landscape of retail buyer expectations, especially concerning your EDI capabilities. Your brand’s ability to communicate and transact efficiently with larger retailers can significantly impact your success. This guide aims to demystify EDI and equip you with the knowledge to confidently engage in discussions with potential retail partners.
EDI stands for Electronic Data Interchange, and enables the exchange of business documents in a standardized electronic format between business partners. Retailers most commonly use EDI to collect product information, images, and to send purchase orders. It replaces e-mail or paper-based document processing with automated, electronic procedures.
At its core, EDI enables you to streamline operations, reduce errors, and expedite orders, which are crucial for maintaining strong relationships with big-box retailers. These retailers often mandate EDI compliance to ensure consistency and reliability in their supply chains.
After a buyer decides they want to bring your product in, the next thing they evaluate is if you have the existing capabilities to work with their systems, including distribution, insurance, certifications, and an EDI provider. You don’t want your lack of EDI knowledge or setup to delay or derail the conversation. Retail buyers will inquire about a brand’s EDI capabilities to ensure that the brand can integrate seamlessly into their existing systems, facilitating real-time data exchange and reducing the risk of order-related errors.
EDI’s ability to automate and track every step of the order process, from purchase orders to invoicing and shipment, aligns with the operational efficiencies that major retailers seek. By adopting EDI, your brand can demonstrate a commitment to these efficiencies, showing potential partners that you’re equipped to handle large-scale, complex transactions, and meet their stringent requirements for speed and accuracy.
Choosing the right EDI provider is crucial for ensuring your CPG brand can effectively meet and exceed the expectations of large retailers. When evaluating potential EDI partners, consider these key factors:
Crstl is a modern EDI provider for CPG brands that works with any retailer that uses EDI. I recommend them because of their easy to use platform, great customer service, and simple pricing.
Save 25% off your entire first year, just mention that you learned about Crstl from Foodbevy.
No you don’t! A provider like Crstl can integrate seamlessly with any retailer’s system.
You should interview EDI providers now, so you understand the setup requirements and pricing. You don’t need to get signed up until you start working with a retailer who requires EDI.
As you prepare to engage with potential retail partners at Expo West, understanding and integrating EDI into your CPG brand’s strategy is a baseline expectation you should understand.
By being knowledgeable about EDI, demonstrating its integration into your processes, and carefully selecting the right EDI provider, you position your brand as a reliable partner ready for the challenges of large-scale retail partnerships. Embrace this opportunity to showcase your brand’s readiness for advanced retail collaboration, making the most of your interactions at Expo West.
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