LAWRENCEVILLE, N.J. June 18, 2003 – UCCnet, a not-for-profit organization that provides item registry and data synchronization services, announced today that Price Chopper Supermarkets will begin implementing the organization’s GLOBALregistry“ and synchronization services for its more than 100 retail stores located in New York, Massachusetts, Vermont, Pennsylvania, Connecticut, and New Hampshire.
According to Tom Nowak, Senior Vice President of Information Services and Chief Information Officer for Price Chopper Supermarkets, increasing item accuracy through UCCnet’s registration and synchronization services will enable the company to streamline its warehousing, merchandising, and store operations. "Price Chopper Supermarkets feels that improving the accuracy of item information is essential for enabling operating improvements. And, to achieve this goal, we have joined the UCCnet community and endorse UCCnet’s efforts to synchronize industry data," said Mr. Nowak.
Price Chopper will register location data in the UCCnet GLOBALregistry, an industry-supported repository for standardized item, location, and trading partner data. Price Chopper’s suppliers will also register item data in the GLOBALregistry. Once registered, UCCnet checks the data for compliance to industry standards. Price Chopper will then use UCCnet’s item synchronization service to synchronize the registry-compliant data with its suppliers, ensuring that all suppliers are using identical, up-to-date, standards-compliant data.
Initially, Price Chopper will request that a select group of its 3,500 warehouse and 1,500 direct-store-delivery suppliers subscribe to UCCnet to begin the process of implementing UCCnet’s item registration and data synchronization services. Once this select group is fully implemented, Price Chopper will send communications to the remainder of its suppliers requesting they join UCCnet. "When we reach critical mass with our suppliers, we will see a much more streamlined, electronic maintenance process," said Mr. Nowak.
"Price Chopper operates in a highly competitive marketplace," said Rhonda Horn, Vice President of Business Development for UCCnet. "Utilizing validated data from UCCnet`s GLOBALRegistry will increase their own competitive strength in the marketplace, especially with new item launchings."
An industry study conducted 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. Specifically, the study showed that 30 percent of items in retail catalogs have data errors, which cost between $60 and $80 each and consume 25 minutes of manual correction per SKU. Other findings revealed that 60 percent of all invoices generated errors and 43 percent of all invoices resulted in deductions. During the fall of 2002, A.T. Kearney conducted another study of three suppliers and three retailers, concluding that financial benefits of 10 basis points or 0.1% of sales dropping to EBIT (Earnings Before Interest and Tax) could be realized. The benefits were the result of business process changes adopted by the retailers and separately by the suppliers who have implemented these UCCnet industry utilities.
UCCnet services will enable suppliers and their retail partners to reduce costly administrative errors in invoice pricing, purchase orders, product delivery and scanning accuracy. In addition, companies will be able to increase the speed of getting new products to market and facilitate changes to existing item information. Synchronized data in a standard format also provides a solid foundation for realizing the true cost savings value of more advanced e-commerce tools, such as scan-based trading and Collaborative Planning, Forecasting, and Replenishment (CPFR‚).
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About UCCnet
UCCnet is a not-for-profit, tax-exempt neutral organization that provides product 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 product registry and data synchronization services into their business in a swift and efficient manner. For more information, visit www.UCCnet.org.
About Price Chopper Supermarkets
Based in Schenectady, New York, Golub Corporation owns and operates more than 100 Price Chopper grocery stores in New York, Vermont, Connecticut, Pennsylvania, Massachusetts and New Hampshire. The family-owned company has prided itself on longstanding traditions of innovative food merchandising, leadership in community service, and cooperative employee relations since 1932. Golub’s approximately 20,000 employees collectively own 55% of the company`s privately held stock. For more information on Golub Corporation and Price Chopper stores, visit www.pricechopper.com.
Media Contacts:
Cecily Laidman
Uniform Code Council Inc.
609.620-4526
claidman@uc-council.org
Mona Golub
Price Chopper Supermarkets
518.379.1480
monag@pricechopper.com
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