PRICAT, INVRPT, and OSTRPT: Three Essential EDIFACT Documents for Optimizing B2B Trade
PRICAT, INVRPT, and OSTRPT are three essential EDIFACT-documents that help streamline processes and make B2B trades run smoothly. They are abbreviations for “Price Catalogue” (PRICAT), “Inventory Report” (INVERPT), and “Order Status Report” (OSTRPT). They provide both you and your customers with accurate and up-to-date information about inventory and pricing.
Let’s dive into what these documents are and how they can improve your business operations.
1. PRICAT (Price Catalogue)
PRICAT is an EDI document used to share product and pricing information between businesses. It includes details like product descriptions, prices, discounts, and inventory levels.
Why is PRICAT important?
- PRICAT ensures both parties are aligned on pricing, preventing errors and discrepancies.
- Automating price updates reduces manual tasks and minimizes the risk of human errors.
- Continuously updated product and pricing information allows customers to make informed purchasing decisions with ease.
Now that the price is right, it’s time to find out if you have enough quantity of the product in your warehouse.
2. INVRPT (Inventory Report)
INVRPT is an EDI document that provides detailed information about your inventory. It includes data on stock quantities, storage locations, and any changes in inventory status.
Why is INVRPT important?
- INVRPT helps businesses keep track of inventory levels, preventing overstocking or stockouts.
- Accurate inventory information reduces costs and avoids unnecessary purchases.
- With up-to-date inventory data, orders can be processed and delivered faster, improving customer satisfaction.
Now that you know that you have enough goods to ship to your client at the agreed price, it’s time to close the deal and make an order, where you both can follow the process.
3. OSTRPT (Order Status Report)
OSTRPT is an EDI document used to report the status of an order. It provides detailed updates on the order’s progress - from the moment it is received to when it is shipped or delivered.
Why is OSTRPT important?
- OSTRPT ensures both buyers and sellers have a clear understanding of the order status, minimizing misunderstandings and delays.
- Real-time updates allow both parties to identify and address potential issues promptly.
- Customers receive accurate information about their orders, enhancing their experience and trust in your business.
And just like that: you’ve closed a deal with these 3 essential EDI documents, with great satisfaction for both you and your client.
