Office Depot Selects Retek for Worldwide Strategic Solutions
Global, Multi-Channel Office Supply Chain to Streamline Operations with Retek Solutions
MINNEAPOLIS — October 29, 2003 -- Retek Inc. (Nasdaq: RETK) announced today that Office Depot, Inc. (NYSE:ODP), one of the world’s largest resellers of office products, has licensed a significant portion of Retek’s solutions suite to support its growing operations. As Office Depot has expanded, its systems infrastructure needed improved integration and advanced planning capabilities to more efficiently support its continued growth. The Retek solutions will provide Office Depot a scalable, integrated retail infrastructure and sophisticated planning and forecasting tools.
"We selected Retek because of the breadth and depth of its solutions suite and its proven scalability supporting the large transaction volumes of some of the world’s largest retailers," said Patricia Morrison, chief information officer at Office Depot.
Office Depot has selected the following Retek solutions:
ß Retek Merchandising SystemTM – provides a flexible, proven and scalable foundation from which to profitably and efficiently execute core merchandising activities for global operations and multiple retail channels (stores, catalog, Internet and business-to-business).
ß Retek Data WarehouseTM – combines massive amounts of data from different systems into user-friendly reporting that provides a single view of data for web-based strategic performance analysis.
ß Retek Demand ForecastingTM – provides a highly scalable demand forecasting solution that leverages advanced scientific technologies to develop the most accurate consumer demand at levels as low as SKU/store/day.
ß Retek Advanced Inventory Planning™ – combines Retek’s industry leading demand forecasting engine with constraint-based store and warehouse order planning to produce an optimized, time-phased inventory plan that synchronizes supply with consumer demand.
ß Retek Inventory Optimization™ - uses advanced forecasting and simulation techniques to determine the optimal parameters for a retailer’s supply chain. These parameters include vendor minimums, pack size, how often an item should be ordered and whether it should be stocked in a warehouse, cross-docked or shipped directly from a supplier.
ß Retek Price Management™ – provides a well-defined and efficient rules and exception-based price change process that allows for aggregated permanent and clearance price change execution.
ß Retek Assort™ – provides the ability to optimize the assortment and presentation of merchandise at both individual product and store levels, resulting in improved service levels and lower overall inventory levels.
"We are delighted that Office Depot has selected Retek as its strategic solutions partner," said Marty Leestma, president and CEO with Retek. "Office Depot’s strategic approach to transforming its IT systems is impressive. We look forward to delivering the retail systems infrastructure that will enable Office Depot to support its growing operations."
About Office Depot
With annual sales of nearly $13 billion, no one sells more office products to more customers in more countries than Office Depot. The company, founded in 1986 and headquartered in Delray Beach, FL, conducts business in 22 countries and employs nearly 50,000 people worldwide. Operating under the Office Depot, Viking Office Products, Viking Direct, 4Sure.com and Guilbert brand names, Office Depot is an industry leader in every distribution channel – from retail stores and contract delivery to catalogs and e-commerce. The company is the world’s number two online retailer – on target to generate $2.5B in sales for FY’03 – and is home to a number of award-winning web sites, including http://www.espanol.officedepot.com/ one of the first fully functional, Spanish-language retail sites.
In North America, Office Depot has more than 870 retail stores in addition to a national business-to-business delivery network supported by 24 delivery centers, more than 60 local sales offices and 13 regional call centers. The company’s common stock is traded on the New York Stock Exchange under the symbol ODP and is included in the S&P 500 Index. Additional press information can be found at: http://mediarelations.officedepot.com.
About Retek Inc.
Retek Inc. (Nasdaq:RETK) is the leading provider of mission-critical software and services to the retail industry. Retek solutions integrate collaborative software with patented predictive technologies, consulting services, and the best practices of customers and partners to help retailers create, manage and fulfill consumer demand. Leading global retailers including Tesco, Best Buy, Gap Inc., Sainsbury`s, Eckerd Corp. and Selfridges use Retek solutions. On the net: Retek at http://www.retek.com.
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Retek is a trademark of Retek Inc. Other names may be trademarks of their respective owners.
Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Such factors are described from time to time in the company`s Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission.
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Media Relations Contact
David Naumann
Public Relations Manager
612-587-2522
david.naumann@retek.com
Investor Relations Contact
Bob Kleiber
Vice President, Investor Relations
612-587-2398
robert.kleiber@retek.com
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