Fundamental changes for wine trading

21st July, 2011 by Patrick Schmitt

Improving the efficiency of data exchange is the next major challenge facing fine wine trading.

According to Liv-ex director James Miles, “The focus of the last 10 years has been on using the web to sell stuff but less focused on how it can be used to make the wine trade more efficient.”

“Our view is that the next five years is going to be a lot more about the back office and there are going to be fundamental changes – it many not be as glamorous but in many ways it is more important.”

In an interview with the drinks business Miles explained that there were significant inefficiencies when it comes to processing online orders and transferring data.

“Any interconnection of systems has a man in between,”….

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2 Responses to “Fundamental changes for wine trading”

  1. Lar Veale says:

    Some enterprising young chaps in Portugal have had this for a while, in the form of AVIN,

  2. Patrick says:

    Thank you Lar for bringing AVIN to our attention and yes we – and Liv-ex – are aware of AVIN, but L-Win is, I believe, slightly different as it is designed for fine wine trading – so merchants and warehouses, and not so much the producers/chateaux, which I’m told is the target for AVIN.

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