A EDI 845 Price Authorization Acknowledgment/Status is a type of electronic data interchange transaction set that transmits specific data dependant to the status of / or changes to outstanding price authorizations. EDI 845 enables a vendor or manufacturer in the transmission of specific data which is related to the status or any kind of changes associated with the authorization of outstanding prices. This document is most commonly used in the pharmaceutical industry but can also be used in any manufacturer-distributor relationship.
This electronic document complies with the ANSI X12 EDI specification.
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The 845 document includes:
EDI 845 is an Electronic Data Interchange (EDI) document known as the Price Authorization Acknowledgment/Status. It is used by suppliers to provide updates on pricing information, authorize pricing changes, or respond to price inquiries from buyers. This document facilitates communication regarding price adjustments, discounts, and promotional pricing.
An EDI 845 document includes details such as the supplier’s and buyer’s identification, product or item identification, current and authorized prices, price changes, effective dates of the new prices, and any conditions or terms associated with the pricing. It may also include information about promotions, discounts, and special pricing agreements.
EDI 845 benefits businesses by providing a standardized and efficient method for communicating pricing information. It helps ensure that both buyers and suppliers are aligned on current prices, reduces manual errors in price updates, and accelerates the pricing approval process. This leads to better inventory management, more accurate pricing in sales transactions, and improved financial planning.
EDI 845 is transmitted between trading partners using standard EDI communication protocols such as AS2, FTP, or VAN (Value Added Network). These protocols ensure the secure and reliable transfer of data, maintaining the integrity and confidentiality of the pricing information exchanged.
EDI 845 is commonly used in industries where pricing accuracy and updates are crucial, such as retail, manufacturing, automotive, and wholesale distribution. These industries benefit from the ability to quickly and accurately communicate price changes, promotions, and discounts, ensuring that all parties have up-to-date pricing information for their transactions.
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