batch search/replace in one file according to an external file

Hi there,
Is sed the right tool to achieve the following:
Search & replace one single text file according to an external "replace.txt" file that contains the replacement patterns.
Something like this:
"blau" <TAB> "blue"<CR>
"rot" <TAB> "red"<CR>
"weiss" <TAB> "white"<CR>
...

So that I have the search/replace terms stored in an external file. Hope I made myself clear..?
I've read about sed's capability to batch search & replace on multiple files but nothing about batch replacing in a single file.

thanks for any help/info on this

Use one invocation of sed to transform your replace.txt file into a bunch of sed statements like:
s/blau/blue/g
Then feed that new file into a second sed invocation that uses the -f option to read sed commands from the new file.