RICHMOND, Calif., April 10 -- QRS Corporation (Nasdaq: QRSI), a leading worldwide provider of collaborative business-to-business e-commerce solutions for the retail industry, announced today that Sears, Roebuck and Co. (NYSE: S) has chosen to use QRS` Tradeweave(TM) Message Exchange for all its retail formats and vendors. Sears began using QRS` electronic commerce services to exchange procurement information between its retail department stores and vendors in 1999.
"For retailers, getting the right merchandise into the store at the right time is critical to customer satisfaction and our success," said Dave Giometti, vice president of vendor relations for Sears. "Tools like Tradeweave Message Exchange significantly improve the buy-sell process with our vendors. The other benefit is that it doesn`t require a significant investment or lengthy implementation to get vendors up and running."
"For more than a decade, QRS has been working with retailers and their vendors to help them move from paper to electronic commerce," said Candy Smith, senior vice president of electronic commerce for QRS. "We are pleased that a retailer such as Sears has recognized the benefits of electronic commerce and entrusts QRS with this critical portion of its business."
Vendors, large and small, can fulfill merchandise orders electronically with QRS` Tradeweave(TM) Message Exchange, an Internet-based forms package. Tradeweave Message Exchange is part of the QRS Tradeweave Retail Network, a supply chain management platform for collaboration and commerce for the retail community.
Tradeweave Message Exchange is created based on a retailer`s specific e-commerce requirements. QRS works with each vendor to ensure compliance so vendors can avoid costly charge-backs and concentrate on manufacturing and delivering merchandise. Using the Internet, vendors can view and print retailer purchase orders and then respond with turnaround documents including shipment case labels, shipment manifests, advance ship notices (ASN) and invoices, immediately without having to re-key information. QRS handles all data translation, moving information from a retailer`s EDI document to the vendor Web form application. Tradeweave Message Exchange is used by several of the largest retailers in the United States.
Tradeweave Message Exchange provides benefits for both the retailer and vendor:
-- Vendors can meet e-commerce requirements at a fraction of the time and financial investment required by traditional solutions. Start-up costs are reduced from thousands to a few hundred dollars. EC/EDI translation software usually requires an investment of $3,000 to $100,000. Tradeweave Message Exchange eliminates the need for EC/EDI translation software. Implementation time is reduced from weeks or months to a few hours.
-- Partners can significantly reduce order cycle time. Orders are received by the vendor within hours after the retailer initiates a purchase order. Tradeweave Message Exchange will create the shipping manifest and case labels (per retailer`s requirements), eliminating the need for manual labor.
-- Tradeweave Message Exchange eliminates errors by reducing the re-keying of information. The information on the manifest and the case labels is pulled from the purchase order. When the vendor ships the products, Tradeweave Message Exchange will create an ASN and deliver it to the retailer. The products flow through the distribution center (DC) and are on the store shelves in the shortest time frame possible. Shipments that are received without an ASN can take days or even weeks to be manually processed through the DC. Shipments with the ASN will process through the DC in a few hours.
-- Vendors may use Tradeweave Message Exchange to invoice retailers immediately. Invoices are delivered to the retailer within hours, eliminating mail time and data entry requirements at the retailer. Invoices are prepared accurately based on the products shipped, eliminating errors and reducing manual labor requirements. A manual invoice costs an average of $25 per document. The average invoice cost with Tradeweave Message Exchange is $4.
Sears, Roebuck and Co. is a leading U.S. retailer of apparel, home and automotive products and services, with annual revenue of more than $40 billion. The company serves families throughout the country through approximately 860 department stores, approximately 2,100 specialized retail locations, and a variety of online offerings accessible through the company`s website, http://www.sears.com.
QRS is a leading worldwide provider of collaborative business-to-business e-commerce solutions for the retail industry. The company delivers value to thousands of customers by providing tools that enable retailers, manufacturers and their business partners to source, track and deliver the right product to the right place while reducing costs and cycle times. Through the QRS Tradeweave Retail Network, the company delivers an integrated suite of products and services for collaborative and effective supply chain management. For 13 years, QRS has been an innovator in the technological evolution of the retail industry and has helped its customers build profitable relationships with their supply chain partners. For additional information visit http://www.qrs.com.
Statements contained in this press release that are not historical facts are forward-looking statements subject to risks and uncertainties as discussed more fully in QRS Corporation`s filings with the SEC, including its most recent Form 10-K and Form 10-Q.
NOTE: QRS is a registered trademark and Tradeweave is a trademark of QRS Corporation. All other trademarks belong to their respective owners.
Maureen Collins of QRS Corporation, 978-283-9505, firstname.lastname@example.org;
or Nicole Peters of Stanton-CrenshawCommunications, 646-336-9414, or email@example.com, forQRS Corporation