TradeStone Software Enables Global Sourcing For The Children`s Place
Pioneering Leader in Global e-Sourcing Marks Major Retail Customer Win
Gloucester, Mass., March 8, 2004 - TradeStone Software, a pioneering leader in collaborative e-sourcing software that enables companies to mainstream international trade as a key part of their business, today announced that The Children`s Place Retail Stores, Inc. (Nasdaq: PLCE) has selected the company`s SteppingStones Suite to automate international sourcing. This significant retail customer win follows the recent announcement that off-price retailer Ocean State Job Lot will be implementing SteppingStones for global e-sourcing.
TradeStone`s SteppingStones Suite delivers the most rapidly deployable, functionally-rich e-sourcing technology to the global sourcing market. It is based on 20 years of development that marries technology with deep domain expertise. Built upon the latest Web Services technology, SteppingStones supports all the key functional areas of international buying and selling - the Request for Quote (RFQ) process, order management, track-and-trace visibility, compliance certainty, and payment processing. Conveniently accessed through a Web browser, SteppingStones requires no up-front training for companies and their suppliers and is the first and only composite application for the global sourcing market that works on either a stand-alone basis or can be layered into an application mix to fill global gaps.
"We`re delivering value to major retailers like The Children`s Place," said Sue Welch, President and CEO of TradeStone Software. "Because SteppingStones operates in a no-training environment, works with existing technology, delivers rapid ROI, and leverages the Internet for collaboration with global suppliers, we`re seeing rapid adoption by companies who view streamlining international trade as their key to competitiveness."
"The Children`s Place selected TradeStone`s software to help us to more effectively collaborate with global suppliers, improve our visibility into the pre- and post-shipment supply chain and to replace legacy sourcing systems on a fill-in-the-gaps basis," said Ed DeMartino, Chief Information Officer of The Children`s Place. "Using TradeStone`s SteppingStones Suite should allow us to reduce the cost of merchandise and transportation, improve our back office productivity and reduce markdowns."
About The Children`s Place
The Children`s Place Retail Stores, Inc. is a leading specialty retailer of high quality, value-priced apparel and accessories for children, newborn to age ten. The Company designs, contracts to manufacture and sells its products under the "The Children`s Place" brand name. As of January 31, 2004, the Company operated 691 stores, including 649 stores in the United States and 42 stores in Canada. The Company also sells merchandise through its virtual store located at www.childrensplace.com .
About TradeStone Software, Inc.
TradeStone Software is the leading provider of collaborative e-sourcing solutions for Global 2000 companies and their suppliers. Led by industry pioneer Sue Welch, TradeStone`s executive team has delivered such market firsts as PC-based import software in 1984, and Windows-based sourcing software in 1994. Today, TradeStone offers the first and only composite application to the global sourcing market that leverages an organization`s IT infrastructure and operates on either a stand-alone basis or can be layered into an application mix to fill "global gaps." TradeStone`s solution manages all essential operations with global sourcing partners, from pre-buy RFQ`s to order management; detailed WIP and logistics trace and track, financing and Customs clearance, while providing seamless event management and alerting. TradeStone Software is based in Gloucester, Mass. and can be found on the Web at http://www.TradeStoneSoftware.com .
Payal P. Patel
Schwartz Communications, Inc.
Main: 781-684-0770
Fax: 781-684-6500
ppatel@schwartz-pr.com
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