Hy-Vee Joins UCCnet
Media Contacts:
Jennifer Roberts, UCCnet, (609) 620-4688, jbroberts@UCCnet.org
Mark McQuistan, Hy-Vee, (515) 313-2705, mmcquistan@hy-vee.com
Retailer Will Use Item Registry and Data Synchronization Services
To Improve Supply Chain Efficiencies
LAWRENCEVILLE, N.J. December 3, 2002 - UCCnet announced today that Hy-Vee, a grocery and drug retailer, who operates more than 200 stores in seven Midwestern states, will begin implementing the organization’s item registration and data synchronization services. Hy-Vee joins more than 250 other supply and demand side trading partners as members of the UCCnet community.
Hy-Vee will begin issuing communications in December to its 1,500 suppliers asking them to join UCCnet and prepare to synchronize item data for the 50,000 products stocked by the retailer. The company has begun developing a plan to efficiently integrate UCCnet services, which it will execute in 2003.
"UCCnet will directly benefit our company by drastically eliminating errors in our data catalog, through the use of the registry and its one to many electronic capability for updating item information. The current process of manual entry and multiple touch points leads to inaccurate data and adds cost to our supply chain," said Ron Pearson, CEO and COO of Hy-Vee and Chairman of FMI "Through the use of UCCnet, we also anticipate increased speed to market for new products which translates to increased revenue dollars for us and our suppliers."
Ron Pearson, who also serves as chairman of the Food Marketing Institute (FMI) Board has also been closely involved with FMI’s efforts to educate their members about the benefits of UCCnet and drive adoption of UCCnet services.
"UCCnet has provided the industry with the tools we need for e-collaboration. Without item registration and data synchronization, the true savings of e-commerce cannot be realized," Ron Pearson. "The time is now for all companies to get behind UCCnet and begin implementation."
"We are extremely excited about the addition of Hy-Vee to our community and their aggressive plan to begin implementing UCCnet," said Glenn DuBois, vice president of business development for UCCnet. "As both retailers and their suppliers are continuing to learn, the central item registry and data synchronization services provided by UCCnet provide competitive advantages and supply chain efficiencies that impact every function across an enterprise and supply chain."
A study by A.T. Kearney estimated that $40 billion, or 3.5 percent, of total sales lost each year are due to supply chain information inefficiencies. Specifically, the study showed that 30 percent of items in retail catalogs have data errors, which cost between $60 and $80 each and consume 25 minutes of manual cleansing per SKU. Other findings revealed that 60 percent of all invoices generated errors and 43 percent of all invoices resulted in deductions.
To alleviate these costly errors, UCCnet enables registration and synchronization of item information, such as weight and dimensions, by providing a neutral repository for standardized item, location and trading partner data. Suppliers load information into the UCCnet GLOBALregistry, which checks the data for compliance to industry standards and synchronizes it with demand side partners, such as Hy-Vee, ensuring that all trading partners are using identical, updated, standards-compliant data.
UCCnet services enable suppliers and their retail partners such as Hy-Vee to reduce costly administrative errors in invoice pricing, purchase orders, product delivery and scanning accuracy. Synchronized data in a standard format also provides a solid foundation for realizing the true cost savings value of more advanced e-commerce tools such as scan-based trading and CPFR.
About UCCnet
UCCnet is a not-for-profit, tax-exempt neutral organization that provides item registry and data synchronization based on industry-developed standards. UCCnet provides a foundation for electronic commerce and cost effective transaction of data among partners. Through its support of global EANoUCC standards, UCCnet delivers an open platform for collaborative commerce services, including compliance verification, synchronization of product information, registry and lifecycle management of synchronized products, user locations and user trade capabilities.
As a subsidiary of the Uniform Code Council, Inc., the global standards organization, UCCnet leverages its position to enable the rapid, clear development of industry Internet standards and practices. In addition, UCCnet certifies technology solution providers and provides implementation methodology, allowing small, medium and large enterprises to implement item registry and data synchronization services into their business in a swift and efficient manner. For more information, visit www.UCCnet.org.
About Hy-Vee
About Hy-Vee, Inc. is an employee-owned corporation operating more than 200 retail stores in seven Midwestern states. We provide career opportunities for 46,000 employees and generate annual sales in excess of $3.8 billion, ranking us among the top 15 supermarket chains in the nation.
Throughout our territory, the name Hy-Vee is synonymous with quality products, low prices and superior customer service. Our slogan, "A Helpful Smile In Every Aisle," expresses the foundation of our corporate philosophy.
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