The Association for Retail Technology Standards (ARTS) has released a new IXRetail XML schema to enable retailers to maintain consistent and accurate store level inventory data and then communicate the information to all systems requiring inventory data within the retail enterprise. The new Inventory schema, the 11th standard XML schema developed by ARTS, will help retailers maintain and communicate inventory by store location to support e-commerce and in store sales.
"With so many people shopping on the Internet and wishing to go to the closest store to immediately pick up the item, accurate store level inventory is absolutely critical to retail success," said Richard Mader, Executive Director of ARTS.
The Inventory schema can be used to check, reserve or cancel orders for products in inventory systems regardless of whether the transaction takes place in a store, online, by phone, or by mail order.
"The Inventory schema addresses many types of inventory, for sale and for rent, as well as layaways, and holds for a wide range of business purposes," said Monty Moncrief, Advisor, Knowledge Management, Blockbuster. "The objective was to make it useful for all retail segments."
Work team members included representatives from Blockbuster, Clicks & Mortar Consulting, CRS Retail Systems, Datavantage, NSB, Oracle Retail, PCMS, QPOS, Softechnics, and Target.
