Laura Battle
Edelman Worldwide
312-233-1374
Fran Sullivan
Wyeth Consumer Healthcare
973-660-6923
ALEXANDRIA, Va. (March 25, 2002) - The WorldWide Retail Exchange (WWRE), the premier business-to-business exchange for retailers and suppliers, today announced that Wyeth Consumer Healthcare, a Madison, NJ-based manufacturer of leading consumer health products, has joined the Exchange. Wyeth Consumer Healthcare is a division of Wyeth (NYSE:WYE).
"WWRE® membership puts us alongside our trading partners in a way that raises the opportunities to collaborate and share benefits to a whole new level," said Bob Wigmore, vice president, supply chain logistics for Wyeth Consumer Healthcare. "Of particular importance, the WWRE demonstrated the knowledge, practical expertise and the means to make VICS-CPFR®* a scalable proposition today."
"As our 60th member, Wyeth Consumer Healthcare will contribute significantly towards the Exchange`s long-standing goal of providing a neutral e-marketplace where both sides of the retail industry can benefit from mutual best practices, shared learnings and improved results," said Colin Dyer, chief executive officer of the WWRE. "Our members are realizing tremendous time and cost savings through Exchange membership and the adoption of WWRE® solutions. We are eager to extend these savings opportunities to Wyeth Consumer Healthcare."
Gavin Jeffs, Wyeth Consumer Healthcare`s assistant vice president, logistics/e-business commented, "we look forward to bringing a new perspective to the Exchange as well as learning from the experiences of the other 59 members. We took some time to evaluate the exchange marketplace and chose the WWRE because they bring, by far, the most expertise and a pragmatic approach to implementation and adoption of e-business initiatives."
In addition to the WWRE® Collaborative Planner, Wyeth Consumer Healthcare plans to synchronize and standardize its product and item data with its customers directly through the WWRE`s Worldwide Item Management solution. The WWRE® Collaborative Planner enables CPFR®.
Wigmore added that "Wyeth Consumer Healthcare`s decision to enter into this agreement was led by our shared commitment to drive industry standards, create a long-term solution to supply chain inefficiencies and deliver value to the end-consumer."
As a WWRE member, Wyeth Consumer Healthcare will have immediate access to the Exchange`s solution offerings, through which fellow WWRE members have collectively saved approximately $390 million on a transaction volume of over $2 billion. Savings per member currently average $4.5 million. The WWRE continues to expand its solution offerings, add functionality to existing solutions and further strengthen its value to members.
About Wyeth Consumer Healthcare:
Wyeth Consumer Healthcare, a division of Wyeth, is one of the world`s leaders in the development, manufacture and marketing of non-prescription medicines, vitamins and nutritional products including such established brands as Advil®, Centrum®, Chap Stick®, Dimetapp® and Robitussin®.
Wyeth (NYSE:WYE) is one of the world`s largest research-driven pharmaceutical and health care products companies. It is a leader in the discovery, development, manufacturing, and marketing of pharmaceuticals, vaccines, biotechnology products and non-prescription medicines that improve the quality of life for people worldwide. The Company`s major divisions include Wyeth Pharmaceuticals, Wyeth Consumer Healthcare and Fort Dodge Animal Health.
About the WWRE
The WWRE is the premier Internet-based business-to-business exchange in the retail e-marketplace. The Exchange was created with the fundamental purpose of reducing costs and improving efficiencies throughout the supply chain, employing product and service solutions typical of a global procurement and supply operation. Designed to facilitate and simplify trading between retailers, suppliers, partners and distributors, the WWRE currently consists of 60 retail members from Africa, Asia, Europe, North America and South America with combined sales of over U.S. $845 billion. To date, the WWRE has saved its members approximately $390 million through the use of online negotiations, its first product offering. For more information, visit the website at www.wwre.org or www.worldwideretailexchange.org
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