June 1, 2004
LOBLAW SELECTS ITRADENETWORK'S E-COMMERCE SOLUTION
Loblaw to Streamline Fresh Foods Supply Chain with iTradeNetwork
Livermore, Ca. June 1, 2004. iTradeNetwork (ITN) today announced that they had been selected by Loblaw Companies Limited (L:TO) as the Supply Chain Management solution provider for Loblaw fresh products sourcing.
Domenic Raso, Vice President, of Loblaw Companies Limited, said, "Working with ITN is consistent with our commitment to improve the landscape of our support services. We continue to take a number of steps to ensure that our procurement and information technology functions will support the continued growth of our business. We strive to continue to improve our vendor partnerships and sourcing practices, and ITN will play a major role in this area. The ITN solution is the most flexible, proven mature product available and has a successful track record with retailers and suppliers. Our analysis supports a significant operating margin improvement opportunity over the next year using the ITN solution."
"Loblaw is one of the most respected companies in North America and we are honored to be selected as part of their corporate strategy of gaining efficiencies while focused on continuously improving the customer experience. ITN has worked hard to deploy our solution in the retail and foodservice industry and to be recognized as the leading solution for the food industry." said Robert Bonavito, CEO of iTradeNetwork.
About Loblaw Companies Limited:
Loblaw Companies Limited ("Loblaw") is Canada's largest food distributor and is expanding into certain non-food categories, with operations across the country. Loblaw strives to provide superior returns to its shareholders through a combination of share price appreciation and dividends. To this end, it follows certain fundamental operating principles. It concentrates on food retailing with the objective of
providing consumers with the best in one-stop shopping for everyday household needs. It maintains a significant program of reinvestment in and expansion of its existing markets. It is highly selective in
acquisitions and continues to invest in products and technology. Loblaw seeks long term, stable growth, while taking prudent operating risks supported by a strong balance sheet position.
About iTradeNetwork:
iTradeNetwork, is a privately held company that provides collaborative workflow 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 is a Partner In Synch member with the UCCNet, offering data synchronization services to the food industry. iTradeNetwork's e-business solutions are being utilized by 11 of the top 15 North American Retailers and many of the leading Foodservice companies with over 2300 customers.
|
