RICHMOND, Calif., April 29 -- QRS Corporation (Nasdaq: QRSI) announced today that Woolworth Germany, a mid-market variety store group, has selected QRS Sourcing(TM) to support its global sourcing and procurement initiative. Top retail companies like Woolworth use this innovative enterprise software application to manage and track products from concept creation to final delivery.
Woolworth selected QRS Sourcing to drive efficiencies across its supply chain and reduce the cost of imported goods, which constitute 40 percent of the company`s product mix. With the enhanced visibility, vendor collaboration and process management offered by QRS Sourcing, Woolworth`s goal is to improve inventory management, increase on-time deliveries and reduce costs and errors through process automation.
"After reviewing the marketplace, we recognized QRS Sourcing as a market-leading application, and we believe it will be a key enabler in improving our return on revenue. QRS Sourcing will help us improve communication and collaboration with our vendors and enhance our supply chain operations, enabling us to strengthen our leadership in the German retail market," said Bernd Szymanski, co-CEO for Woolworth Germany.
"QRS Sourcing will deliver value to Woolworth by helping the company to better manage its true cost-of-goods -- which means a stronger bottom line," said Liz Fetter, President and CEO of QRS. "At the same time, QRS Sourcing will help Woolworth get the right products to the right place at the right time by improving visibility across its supply chain. We`re very pleased to be Woolworth`s partner for the future, and we`re proud to be building on our success in Europe with this important agreement."
QRS Sourcing supports supply chain management and accountability, facilitating the entire end-to-end process in a single system. With communication, costing and tracking capabilities, QRS Sourcing optimizes supplier selection and saves time and effort in developing branded goods, relaying changes to manufacturing partners, handling purchasing and finance, clearing customs, and tracking orders for on-time shipments.
About Woolworth GmbH & Co.
Privately-held Woolworth GmbH & Co. OHG has been in operation for more than 75 years. With approximately 320 stores throughout Germany and Austria, Woolworth recognized revenue of almost 1 billion Euro in 2002. Woolworth presents itself as the friendly variety store for convenient shopping. The assortment is based on everyday needs of households and families and is characterized by favorable prices and quality merchandise.
About QRS
With headquarters in Richmond, California, QRS has offered innovative solutions that automate the way companies connect, transact, collaborate and differentiate since 1988.
QRS, a market leader in North America, delivers collaborative commerce software and services that help the retail industry bring products to market quickly and profitably. With a comprehensive suite of commerce solutions for the global trading community, only QRS combines the benefits of electronic communication with the retail industry`s leading source of product information for accurate partner transactions between companies of any size or technology infrastructure. QRS allows companies to see and manage processes across the supply chain so that problems can be detected and resolved, and offers services that provide insight to the store floor so that companies can enhance the customer experience and improve store operations. More than 8,000* customers from over 20 retail segments -- including Sears, Roebuck and Co., The Kroger Company, Selfridges plc and Jones Apparel Group -- use QRS(R) to meet customer needs, compress cycle times, reduce costs and improve sales margins. Learn more about QRS at www.qrs.com.
* Based on total, unique QRS corporate customers that purchased or
licensed QRS products and services between January and December 2002.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This release contains forward-looking statements regarding future events and the future financial performance of QRS Corporation that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed by QRS Corporation with the SEC, specifically the most recent reports on Form 10-K, 8-K, and 10-Q, each as it may be amended from time to time, which identify important factors that could cause actual results to differ from those contained in the forward-looking statements, including risks associated with general economic conditions; specific conditions in the retail industry; competition; changes in our senior management; rapid technological change in our industry; dependence upon key customers and their trading partners; ability to introduce and market acceptance of new products and services; the ability to successfully integrate and manage acquired businesses and technologies; customers` willingness to purchase services offered through or in conjunction with third parties; and dependence upon IBM for e-commerce services, among others. QRS assumes no obligation to update the forward-looking information contained in this news release.
NOTE: QRS, the QRS logo and QRS Sourcing are trademarks or registered trademarks of QRS Corporation in the United States and other countries. Trademarks of third parties are owned by their respective owners.
CONTACT:
Katherine Post
QRS Corporation
+1-510-965-4521
kpost@qrs.com
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