Industri-Matematik Acquires Store Replenishment Software
MT. LAUREL, N.J.--(BUSINESS WIRE)--Dec. 6, 2000--
Agreement Brings Proven Retail Replenishment Capabilities; Speeds Time-to-Market for New Solution that Dramatically Increases On-Shelf Product Availability
Industri-Matematik International Corp. (NASDAQ: IMIC) today announced it has acquired Itasca Inc.'s retail store replenishment applications. With the addition of Itasca's computer-assisted ordering capabilities, Industri-Matematik extends its VIVALDI(TM) enterprise software suite to enable automated high-volume store replenishment that allows retailers to increase product availability at the shelf to drive increased sales and customer loyalty.
As part of the agreement, Itasca principals Mike Miller and Jeff Kennedy have joined Industri-Matematik. The new software, called VIVALDI Store Replenishment, allows retailers to automate the store ordering process which will improve customer service and increase top-line sales by reducing out-of-stock product levels on store shelves while minimizing inventory investment and operating expenses.
The product will integrate Itasca replenishment capabilities with VIVALDI software to leverage the combination of retail sales forecasts, point-of-sale information and store inventory levels to generate replenishment orders that are matched with product available from retail warehouses and third-party suppliers. As orders are replenished, the software will notify individual stores with delivery items and dates.
"This strategic acquisition dramatically speeds our time-to-market for delivering a solution that enables retailers to better manage replenishment processes to improve responsiveness and have products available whenever and wherever the customer shops," said John Geraci, executive vice president and chief operating officer at Industri-Matematik. "This new VIVALDI software will help retailers move to higher velocity business models to address the growing levels of customer choice and competition they face."
Industri-Matematik VIVALDI retail solutions enable grocery, specialty hard goods and direct merchant retailers to implement new logistics practices to gain competitive advantage. They target distribution-intensive supply chain operations and complement merchandising and store operations applications. The products support multi-channel strategies, helping "bricks and mortar" retailers achieve world-class fulfillment and customer service in both traditional and e-business operations. Industri-Matematik applications also deliver the back-end distribution capabilities Internet-based retailers need to have fast, reliable logistics and warehouse processes.
About Itasca
Itasca Retail Information Systems, Inc.'s software applications, which were acquired by Industri-Matematik, provide in-store perpetual inventory and computer-assisted ordering applications for the retail industry and a powerful, standards-based retail data model, which considers the data requirements for in-store merchandise and inventory applications.
About Industri-Matematik
Industri-Matematik International Corp. (www.im.se) provides high-performance fulfillment and customer service software solutions for B2B and B2C e-commerce. Its applications help companies achieve a Zero Inventory/100 Percent Visibility business model by replacing inventory with information to improve collaboration within a trading community and speed the movement of goods across a supply chain. Customers include supermarket companies, such as Albert-Heijn (Netherlands), Hakan (Norway) and Kesko (Finland) as well as other market-leading companies like British Airways, Carlton & United Breweries, Ericsson, FedEx Corp., Starbucks and Warner/Elektra/Atlantic.
VIVALDI is a trademark of Industri-Matematik International Corp.
The statements contained in this release that are not historical facts contain forward-looking information with respect to plans, projections or future performance of Industri-Matematik and further versions of its software products, the achievements of which involve certain risks and uncertainties, including, but not limited to, product demand and market acceptance risks, the effect of economic conditions particularly in its target markets, the impact of competitive products and pricing, product development, commercialization and technological difficulties and other uncertainties detailed in Industri-Matematik's filings with the Securities and Exchange Commission, particularly its Annual Report on Form 10-K filed in July 2000.
CONTACT:
Industri-Matematik
Richard Cardozo
(856) 793-4487
rica@im.se
or
Porter Novelli Convergence Group
Albie Jarvis or Dan Mees
(617) 450-4300
dan.mees@pnicg.com
or
Lippert/Heilshorn & Associates
John Heilshorn
(212) 838-3777
john@lhai.com
KEYWORD: NEW JERSEY
BW2200 DEC 06,2000
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