December 9, 2002
ITRADENETWORK SIGNS "PARTNERS IN SYNC" AGREEMENT WITH UCCNET
Agreement Will Drive Adoption of UCCnet by Perishable and Food Service Suppliers
Livermore, C.A. and Lawrenceville, N.J., December 9, 2002 - UCCnet, a tax-exempt industry-endorsed utility that provides standards-based item registration and data synchronization announced iTradeNetwork (ITN) has entered the "Partners In Sync" Alliance Program. Upon completing UCCnet certification as an Alliance Partner, iTradeNetwork will assist trading partners with uploading item attributes from the ITN catalog to the UCCnet GLOBALregistry™.
Partners In Sync enables alliance partners to provide integrated collaborative commerce solutions to the expanding UCCnet community. The program certifies partners to provide best-in-class knowledge, resources and tools that enable UCCnet subscribers to implement item registry and data synchronization quickly, efficiently and cost effectively.
iTrade Network provides workflow solutions to the perishable and food service industry.
"iTradeNetwork is pleased to further solidify our relationship with UCCnet by becoming an In Sync Alliance Partner. Our shared vision of creating an open cost-effective community for information exchange among large and small to medium sized trading partners is a powerful combination of strengths. Year to date, over 1,700 ITN customers have facilitated almost $3 billion in transactions and our database currently has in excess of 500,000 unique sku's," said Robert Bonavito, CEO, iTradeNetwork. "Teaming up with UCCnet will further allow our trading partners to conduct timely, errorless data synchronization."
An industry study completed by A.T. Kearney estimated that $40 billion, or 3.5 percent, of total sales lost each year are due to supply chain information inefficiencies. To alleviate these costly errors, UCCnet enables registration and synchronization of item information, such as weight and dimensions, by providing a repository for standardized item, location and trading partner data. Suppliers load item, location and trading partner information into the UCCnet GLOBALregistry™. UCCnet checks the data for compliance to industry standards and synchronizes the data with demand side partners, ensuring that all trading partners are using identical, updated, standards-compliant data.
UCCnet foundation services enables trading partners to significantly improve accuracy, efficiency and profit throughout their supply chain. Successful data synchronization ensures the right information for the right products is always available to a trading community in a secure environment.
"The iTradeNetwork vision for collaborative commerce and B2B integration is synergistic with the UCCnet initiative and provides a framework for the rapid expansion of UCCnet," said Mark Monaghan, Director of Strategic Alliances, UCCnet , "ITN will be a key player in driving the addition of perishable food suppliers to the UCCnet community."
About UCCnet
UCCnet is a not-for-profit, tax-exempt neutral organization that provides item registry and data synchronization based on industry-developed standards. UCCnet provides a foundation for electronic commerce and cost effective transaction of data among partners. Through its support of global EANoUCC standards, UCCnet delivers an open platform for collaborative commerce services, including compliance verification, synchronization of product information, registry and lifecycle management of synchronized products, user locations and user trade capabilities.
As a subsidiary of the Uniform Code Council, Inc., the global standards organization, UCCnet leverages its position to enable the rapid, clear development of industry Internet standards and practices. In addition, UCCnet certifies technology solution providers and provides implementation methodology, allowing small, medium and large enterprises to implement item registry and data synchronization services into their business in a swift and efficient manner. For more information, visit www.UCCnet.org.
About iTradeNetwork
iTradeNetwork, is a privately held company that provides collaborative workflow solutions (Procurement, Logistics, Promotion, Financial Services, EDI-Int, and Content) for the food industry and low cost integration to customers legacy systems. iTradeNetwork's e-business solutions are being utilized by 38% of the U.S. Retail Grocery and Foodservice Industries with over 1,700 customers.
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