Loading new Items and Updating existing Items in Peoplesoft Inventory

Hello all ,

We have a Requirement where we need to Load around 5000 new Items into People soft Inventory. These Items are maintained in a Spreadsheet maintained by the user.
Our requirement is to load all these Items into Peoplesoft, assign Purchasing attributes and establish Item Vendor Relationship for these Items so that we can create Requisitions and Purchase Orders for these Items. And also send these Item details to a Third Party system ( using Item sync)
We also have the Requirement to update the Description or the Buyer Id on the existing Items in the Peoplesoft System.

In People Books it has been mentioned that there are 2 delivered Component Interfaces.