Retek buys supply chain collaboration technology from Syncra Systems

In a move that adds web-based supply chain collaboration technology to its suite of retail operations software, Retek Inc. has paid under $5 million for virtually all of the assets of collaborative technology provider Syncra Systems Inc.

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Rob Garf, a retail technology analyst with AMR Research Inc., says the Syncra technology will help Retek meet the growing demand among retailers and their suppliers for web-based collaboration technology that lets retailers and suppliers share information when planning promotions and managing inventory levels. “It helps Retek reach further back into the supply chain for more collaborative planning and forecasting,” he says.

Retek acquired all of Syncra`s assets except for some cash and receivables, Retek says. Although Syncra still exists as a "shell of a company," according to a Retek spokeswoman, a recording at Syncra referred all calls to Retek.

Retek has packaged Syncra technology into three solutions:
• Retek Syncra Exchange collects, transforms, manages and analyzes supply and demand chain data, enabling companies to collaborate to improve planning and execution. • Retek Promotion Planning manages the lifecycle of promotions, store openings, new product introductions and other special events that affect demand. • Retek Co-Managed Inventory, a web-based planning engine that allows retailers and manufacturers to work together to improve order planning and delivery.

"Retek`s extended footprint in supply chain management enhances Retek`s offering to food retailers and offers new opportunities in the consumer products market by expanding our target audience,” said Retek CEO Marty Leestma. “While Retek will remain focused on serving the technology needs of retailers, we will also market our SCM solutions and CPFR technology to retailer-facing manufacturers, distributors and brokers."

Syncra also brings to Retek relationships with several companies that already use Synchra’s collaboration technology through the WorldWide Retail Exchange, an Internet-based trading exchange for the retail industry.

While positioned to serve a growing market, Retek needs to also assure tight integration between Retek and Syncra technology, Garf says. “The challenge for Retek will be to integrate Syncra into its new Xi platform to help drive adoption,” he says. “A retail manager doesn’t want to have to toggle between different applications to do his job.”