Leading Consumer Brands Company Says Evant Solution is Key to Maintaining 98% Service Levels at World’s Largest Retailer
San Francisco – July 27, 2004 – Evant, a leading provider of retail planning, replenishment and enterprise software, today announced that GoodTimes Entertainment (GTE), a leading vertically integrated multimedia consumer brands company, has selected Evant’s Demand Planning and Replenishment (DPR) solution to be the key system for distributing and managing inventory with their largest retail partner, Wal-Mart.
In an effort to maintain their 98% service levels at Wal-Mart and other retail customers, GTE is undergoing an upgrade of its demand planning and replenishment systems. The cornerstone of this initiative is the deployment of Evant DPR, a next-generation replenishment solution. Evant DPR will automate forecasting and enable GTE to predict demand and generate orders as needed.
“Our ability to get daily visibility to service levels and inventory needs at each store/SKU location, as well as at our distribution center, is critical to meeting the high service level requirements of Wal-Mart,” said Dan Coyle, vice president of retail operations for GTE. “The Evant solution will provide us with this visibility, and enable us to account for seasonal demand patterns by having product arrive prior to peak periods. We will also be able to separately track promotional demand to get a better understanding of the impact on inventory levels, while prohibiting this demand from impacting regular turn inventory levels.”
“After exploring other alternatives, we chose Evant because it offers the most comprehensive demand planning solution to support our retail channel business requirements,” said Steve DeLorenzo, CFO for GTE. “Evant’s experience in the entertainment product industry and sophisticated software solutions offered the highest near-term and long-term return on investment potential.”
“Evant is extremely pleased to have GTE join our expanding family of entertainment product customers,” said Bob Lewis, CEO of Evant. “GTE is one of the largest and most respected companies in the dynamic direct response marketing industry, and we are excited to play a role in their continued growth and success. Evant DPR helps our customers handle some of the toughest inventory management problems they face with advanced science and next- generation technology. The Evant solution will provide sustainable value to GTE by helping them better manage their inventory position with Wal-Mart and other retail customers. We look forward to a long term strategic partnership with GTE.”
About GoodTimes Entertainment
GTE is a leading provider and multi-channel marketer of branded consumer, lifestyle and entertainment products. The products target several high growth categories, including the fitness, weight-loss, skin care, hair-care, housewares, inspirational, and family entertainment markets. GTE distributes these products directly to the consumer through direct response transactional television programming (e.g. infomercials and home shopping channels), telemarketing, catalog merchants, direct mail, and the Internet, and through traditional retail channels. GTE is also a leading independent supplier of home video titles to mass retailers, and maintains an extensive retail distribution network that reaches more than 40,000 retail outlets in the U.S., as well as a global network of strategic partners and licenses.
About Evant Demand Planning and Replenishment
Evant Demand Planning and Replenishment is the industry`s most advanced integrated forecasting, replenishment and allocations solution. At the heart of the solution is a statistical forecasting engine that combines proven forecasting techniques with sophisticated demand cleansing, day-of-the-week and seasonal profiling tools. The system enables retailers to forecast demand more accurately and minimize their inventory investment by automatically adapting to changing demand patterns. Retailers gain maximum forecast accuracy for all types of demand, including seasonal goods, new items, promotions and slow-movers.
About Evant, Inc.
Evant is leading the world’s top multi-channel retailers, wholesalers and distributors into the new technological age by providing merchandising and replenishment software that frees up millions of dollars in working capital and enables greater competitive advantage. Clients such as Staples, O’Reilly Automotive, Lillian Vernon, United Stationers, Camping World and AmerisourceBergen choose Evant for its best-of-breed solutions that are based on the industry’s most advanced science that are delivered on a the IBM iSeries and J2EE platforms. The company is privately held and is headquartered in San Francisco, with operations in Atlanta and London. For more information, visit www.evant.com.
Media Contacts:
Holly Glennon
Evant
770-222-1507
holly.glennon@evant.com
Kristen Foster
GoodTimes Entertainment
(646) 792-2230
Kfoster@KFPR.net
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