QRS Leverages its 13 Years of Expertise to Provide a Global Product Data Catalog to Serve the Unique Business Requirements of the Hardlines, Grocery and Food Service Industries
Richmond, CA - August 1, 2001 - QRS Corporation (Nasdaq: QRSI), the leading expert in global sourcing and supply chain management solutions for the retail industry, announced today the availability of its newly enhanced Tradeweaveä Product Catalog. Already the retail industry`s most comprehensive product catalog, with more than 80 million items, the catalog has been updated to support the business requirements of any vertical industry segment. New catalog features include expanded product attributes, such as Web-ready images, nutri-facts, product label information and other content that can be used for marketing to consumers.
"The Tradeweave Product Catalog has been the general merchandise and apparel (GMA) industry`s de-facto standard for collecting, aggregating and synchronizing product information between manufacturers and retailers for more than a decade," said Adam Messinger, vice president of product marketing for QRS. "By leveraging our experience in GMA and working closely with customers and industry associations to understand the unique business requirements of these other retail industry segments, QRS was able to develop and now deliver the same value to the hardlines, grocery and food services industries that our general merchandise and apparel customers have experienced over the last decade."
"Historically, by using the Tradeweave Product Catalog to effectively synchronize price and item data among the procurement, inventory and purchase-order management systems, QRS customers have been able to increase their return on sales by one to two percentage points. Now, the addition of new product attributes and Web-ready content with imaging capabilities enables customers to improve top-line revenue as well," said Messinger. " It seemed only natural to bring this capability and competitive advantage to additional industry verticals," he added.
"The introduction of the enhanced catalog further illustrates our vision of taking our pioneering efforts to additional retail segments, and to provide a Meta-catalog that addresses the unique business requirements of those segments," said John Simon, chief executive officer for QRS.
The newly enhanced Tradeweave Product Catalog features:
·Extended product attributes - More than 600 product attributes (expanded from 50) now include Web-ready images, searchable nutri-facts and brand marketing messages found on product labels. The expanded attribute set allows retailers in any industry to utilize the Tradeweave Product Catalog for procurement and logistics data such as global harmonizing of tariff codes, hazardous material data, and packaging and pricing information.
·Web-ready content - By combining digital image and text media, QRS customers can utilize the Tradeweave Product Catalog as a source of data to market directly to consumers(B2C), as well as for content for their business-to-business (B2B) online buying and selling applications. This capability extends the use of product images to load directly to plan-o-gram applications.
·Flexible product hierarchy - A multilevel product classification hierarchy to make searching for products faster and more efficient. This functionality enables suppliers to categorize their products into standardized organization (e.g., selection codes) and search structures.
·XML-based interface - This interface supports both EDI and XML data exchange schemas that are both backward compatible with existing EDI configured protocols and provide full support for web developer needs. QRS has also introduced a new Web interface for easier vendor data upload and retailer data extracts.
·Internationalization - With the introduction of XML based capabilities, flexible hierarchies and multi-currency capabilities the Tradeweave Product Catalog now supports global electronic commerce.
·Incorporation of industry standards - The new catalog supports emerging industry standards such as those being proposed by UCCnet, National Retail Federation (NRF), Global Commerce Initiative (GCI), Voluntary Interindustry Commerce Standards Association (VICS), and other standard setting groups.
The Tradeweave Product Catalog is part of QRS` Tradeweave Retail Network, an integrated suite of technology and service platforms that enable secure and profitable relationships between businesses across the global supply chain. It facilitates more than 12,000 partnerships per month, giving customers the split-second efficiency and quality information they need to get the right product, at the right price, to the right place, at the right time.
QRS Corporation is the leading expert in global sourcing and supply chain management solutions for the retail industry. For 13 years QRS has helped its 4,000 customers increase revenue, decrease costs and reduce product cycle times. QRS` Tradeweaveä Retail Network - an integrated suite of business intelligence, service and technology platforms - enables secure and profitable relationships among retailers, manufacturers and their trading partners. Dedicated solely to the retail industry, QRS has enabled more than 100,000 partnerships giving retailers and manufacturers a better way to plan, source, buy and sell, finance, track, price, merchandise and replenish products.
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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.
QRS is a registered trademark and Tradeweave is a trademark of QRS Corporation. All other trademarks belong to their respective owners.
© 2001 QRS Corporation. All Rights Reserved.