April 19, 2004
iTRADENETWORK ANNOUNCES SELECTION BY A&P SUPERMARKETS
Livermore, Ca. April 19, 2004. iTradeNetwork (ITN) today announced they have been selected by The Great Atlantic & Pacific Tea Co. (A&P, NYSE: GAP) to be A&P's central US supply chain management solution provider for fresh product procurement.
The strategic partnership with ITN will provide A&P's US operations with an automated fresh food ordering and fulfillment process encompassing suppliers, company distribution facilities, and store networks. ITN's end-to-end solution is designed to improve the efficiency of A&P's procurement process enabling the supermarket chain to expand its base of fresh food suppliers and reduce costs.
"Our analysis supports a significant operating margin improvement opportunity over the next year for A&P using the ITN solution," said Robert Bonavito, Chief Executive Officer of iTradeNetwork. "The ITN solution is the most flexible and mature product available and boasts a successful track record with retailers and suppliers."
Bonavito added, "ITN has worked hard to deploy our Distributed Order Management solution throughout the retail and foodservice industries and we are honored to be selected by A&P as their fresh products supply chain solution partner."
About iTradeNetwork:
iTradeNetwork, is a privately held company that provides collaborative distributed order management solutions (Procurement, Contract and Management Rebate, Logistics, Promotion, Demand Forecast, VMI, Financial Services and Content) for the food industry and low cost integration to customers legacy systems. iTradeNetwork's e-business solutions are being utilized by 15 of the top 20 North American Retailers and most of the leading Foodservice companies with over 2300 customers.
About A&P:
Founded in 1859, The Great Atlantic & Pacific Tea Company, Inc (A&P) [NYSE: GAP] was one of the nation's first supermarket chains, and is today one of North America's largest. The Company operates more than 645 stores in 10 states, the District of Columbia and Ontario, Canada under the following trade names: A&P, Waldbaum's, The Food Emporium, A&P Super Foodmart, Super Fresh, Farmer Jack, Sav-A-Center, Dominion, The Barn Markets, Food Basics and Ultra Food & Drug. A&P company information is available at www.aptea.com.
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