Constance Mazelsky Communications
Retailer To Deploy Yantra`s Distributed Commerce Management solution
TEWKSBURY, Mass.- May 1, 2002 - Yantra Corporation (www.yantra.com), the leading provider of enterprise software for distributed commerce management today announced a new license agreement with Best Buy Co., Inc. (NYSE: BBY), the number one specialty retailer of consumer electronics, personal computers, entertainment software and appliances in North America.
The Minneapolis-based company operates retail stores and commercial Web sites under the names: Best Buy (BestBuy.com), Magnolia Hi-Fi (MagnoliaHiFi.com), Media Play (MediaPlay.com), On Cue (OnCue.com), Sam Goody (SamGoody.com), Suncoast (Suncoast.com), and FutureShop (futureshop.com). It also reaches consumers through more than 1,900 retail stores nationwide, in Canada, Puerto Rico and in the U.S. Virgin Islands.
Best Buy will use Yantra`s distributed order management application as the core component for BestBuy.com. Yantra`s solution will streamline Best Buy`s "Bricks and Clicks" fulfillment model and provide cross-channel customer management capabilities to BestBuy.com shoppers including in-store inventory availability and pick-up.
The application provides Best Buy with a global repository for all customer order information, across all channels - starting with original sales all the way through delivery, installation, customer care, returns and/or repair. While Best Buy`s customers will be the primary beneficiaries, all participants in Best Buy`s extended supply chain will benefit including customer care, stores, distribution centers, suppliers, third-party logistics providers and service providers. "This is a very strategic initiative for Best Buy," said Doug Reynolds, information services leader for Best Buy). "Yantra`s solution gives us the proven ability to accelerate the way we handle our current demand channels while improving our service levels. Equally important, it gives us incredible flexibility as we look to grow our business and integrate new channels and acquisitions."
"This is a great win for Yantra," said Devdutt Yellurkar, President and CEO of Yantra. "Best Buy is a very savvy user of enterprise applications. It has a strong vision about where it wants to drive its business and the capabilities it needs to get there. Our distributed commerce management platform simply gets them there faster and more efficiently."
Founded in 1995, Yantra is the leading provider of distributed commerce management solutions. The Company`s applications extend existing enterprise systems to coordinate and monitor distributed orders and inventory across multiple channels, business units, customers, suppliers and trading partners. Global 2000 companies use Yantra`s solutions to leverage new revenue opportunities, drive new operational efficiencies and increase service levels.
Yantra has deep domain expertise in supply chain management and works with some of the world`s leading businesses including Allogis (DHL), APL Direct, Argos, Eastman Chemical, Hallmark, Honeywell, Motorola, Rockport, ScanSource, School Specialty Inc. and Target Corporation. The Company is privately held and based outside Boston, Massachusetts. For more information, please visit www.yantra.com.
Yantra and the Yantra logo are trademarks or registered trademarks of Yantra Corporation in the United States and/or other countries. All other names are trademarks or registered trademarks of their respective companies.