Logistics Marketplace Launches Product Returns Process for Customers
MEMPHIS, Tenn. – June 12, 2001 – FreightMatrix™, a leading provider of global online logistics marketplace services and a majority owned subsidiary of i2 Technologies, Inc. (Nasdaq: ITWO), announced today that it has selected ReturnCentral™, to complement its comprehensive logistics services suite. This strategic alliance will allow FreightMatrix customers to utilize ReturnCentral’s ReturnMatrixTM, a powerful automated returns management solution that distributes mission-critical information throughout the reverse supply chain.
Most manufacturers and resellers concentrate all of their resources on pushing their product to market, but give little consideration to the consequences of returned products. With no automated solution in place, returns arrive back on the loading dock without advance notification. Many are inaccurately documented, often missing crucial information necessary for processing and account crediting. With no way to control shipping costs, no means of reconciling returned merchandise against return allowances and no system in place to route their ultimate disposition, the result is an expensive and complicated situation, which also drains profits.
When combined with FreightMatrix, ReturnMatrix can complete the reverse supply chain solution by increasing efficiencies, streamlining and improving the workflow associated with buyer, warehouse and customer service personnel. This new service is designed to enforce policies and automate the outcomes, allowing for fewer touch points, fewer write-offs and fewer unauthorized returns. Additionally, by quickly resolving customers` credit lines, trading channels remain open in order to promote active buying, which increase revenues.
“Our partnership with ReturnCentral is a logical fit and further enhances our position as a leader in the e-logistics marketplace arena,” said Mark Skoda, president and CEO of FreightMatrix, Inc. “Efficiently managing returned products and merchandise is a complex and critical task and we view ReturnMatrix as the clear front-runner in return management solutions.”
“While the nature of the B2B returns process may vary depending on the industry, in general most companies haven`t fully optimized their reverse supply chain. The result is an inordinately high cost structure when compared to the optimized portions of the forward supply chain,” said David Hommrich, ReturnCentral CEO and founder. “We are excited about joining forces with our partners at FreightMatrix to provide a comprehensive and efficient reverse logistics solution that will deliver quantifiable cost reductions directly to a company`s bottom line.”
About FreightMatrix, Inc.
FreightMatrix is a leading provider of global online logistics marketplace services. FreightMatrix offers its shipper and marketplace customers a combination of private and public marketplace services, where their single connection gives them access to a large carrier base, international shipment execution, rail and intermodal services, all from within the same workflow. FreightMatrix offers a secure, hosted service delivering optimization, collaborative transportation procurement and rich content. Founded in 1999, FreightMatrix’s mission is to be the only connection a company needs to be e-logistics ready. FreightMatrix is a majority owned subsidiary of i2 Technologies, Inc. headquartered in Memphis. Visit FreightMatrix at www.freightmatrix.com
About i2
i2 is creating real value for its global e-business customers through its i2 TradeMatrix Solutions, content and marketplace platform. TradeMatrix allows businesses to create both private and public marketplaces, while improving the efficiencies of all participants. i2 provides a wide variety of collaborative e-business services for both the early stages and the next generation of e-business adoption, with each service supported by decision optimization, transaction management and content management solutions. Founded in 1988, i2’s mission is to deliver $75 billion in value to its customers by 2005. i2 is headquartered in Dallas, has more than 5,700 employees and maintains offices worldwide. Visit i2 at www.i2.com.
i2 is a registered trademark of i2 Technologies, Inc. i2 TradeMatrix, TradeMatrix, FreightMatrix, and the i2 logo design are trademarks of i2 Technologies, Inc.
About ReturnCentral
Headquartered in Pittsburgh, PA, ReturnCentral provides web-enabled returns processing technology that allows businesses to gain control of the returns process. The Virtual Returns Desk, a B2C solution, applies company-specific return policies, automatically issues RMA’s and prints shipping labels. ReturnMatrix accommodates high-volume B2B shipments, accounts for complex customer sales agreements and addresses the nuances of supply chain relationships. Both products streamline and integrate the reverse supply chain while increasing its visibility and decreasing associated costs. For more information about ReturnCentral, call toll free at 877-503-4503 or visit their web site at www.returncentral.com.
Cautionary Language
This press release contains forward-looking statements, including forward looking statements regarding an alliance among i2, FreightMatrix and ReturnCentral.com, and related partners and the anticipated benefits and improvements of such an alliance to i2`s software solutions and customers. These forward-looking statements involve risks and uncertainties that may cause actual results to differ from those projected. The risks and uncertainties include the alliance`s ability to timely develop a product and service offering, to achieve interoperability and productive collaboration and for customers to achieve benefits attributable to alliance products and services. For a discussion of factors, which could impact i2`s financial results and cause actual results to differ materially from those in forward-looking statements, please refer to i2`s recent filings with the SEC, particularly the Form 10-K filed March 29, 2001 and Form 10-Q filed May 4, 2001. i2 assumes no obligation to update the forward-looking information contained in this news release.
Contact:
Beth Elkin
i2
(469) 357-4225
beth_elkin@i2.com
Paula Moore
ReturnCentral
(412) 920-9331
pmoore@returncentral.com
Back...
