Gap Inc. Selects Retek Planning Solutions to Transform Supply Chain
Bottom-up In-season Planning Solution to Support Item & Location Level Profit Optimization for Gap Inc.’s 3,800 stores
May 21, 2001
Minneapolis - May 21, 2001 - Retek Inc. (NASDAQ:RETK), the leading provider of solutions that help the retail industry create, manage and fulfill consumer demand, today announced that Gap Inc. (NYSE:GPS) has selected its end-to-end predictive planning solutions to help decrease supply chain costs and increase customer service across its Gap, Banana Republic and Old Navy brands. With this announcement, Gap Inc. will harness Retek`s planning solutions to optimize its pre-season and in-season planning process across all store formats, geographies and its supply chain.
"Retek will help Gap Inc. optimize its supply chain by allowing it to plan at a level no other vendor can effectively provide," said Duncan Angove, General Manager of Supply Chain Solutions for Retek Inc., "With its scalable, integrated planning solution, Retek is helping to fundamentally change the planning process."
Traditionally, retailers have had to rely on broad financial plans as the basis for their business decisions. By increasing visibility to the behavior of individual items, Retek`s planning solutions allow a retailer to plan at a much more detailed level. By integrating accurate consumer demand forecasts with style/color plans at the week level, retailers such as Gap Inc. could realize unparalleled efficiency in the form of decreased inventory costs and enhanced revenue opportunities.
"We are very impressed with Retek`s comprehensive tool set and their understanding of what retailers like Gap Inc. are looking for in a planning solution," said Ken Harris, CIO, Gap Inc. "The Retek solution offers incredible functionality and integration. We are excited to uncover how this will help us better work with large volumes of data and improve forecast accuracy."
"Historically, it has been very difficult for retailers to tie executable benefits to traditional high-level, financial plans. Retek has removed that barrier by designing a system built around the granular needs of retailers," said Pat Bohannon, VP Supply Chain Solutions for Retek Inc.
About Retek Supply Chain Solutions
Retek`s retail-specific supply chain solutions deliver improved inventory management at every point within the supply chain. Retek`s web-architected, collaborative solutions cover Supply Chain Prediction and Optimization, Forecasting and Replenishment, Planning and Allocation, Sourcing and Design, and Distribution and Logistics. Retailers worldwide use Retek`s Supply Chain Solutions to balance and optimize over $500 billion of consumer demand with supply.
About Retek Inc.
Retek Inc. is a leading provider of software solutions and services to the retail industry. Retek`s collaborative solutions help the retail industry create, manage and fulfill consumer demand. Many of the world`s leading retailers use Retek solutions, including A&P, Tesco, Best Buy, Family Dollar Stores, Eckerd Corp., Kohl`s Department Stores, and The Home Shopping Network. For more information, visit http://www.retek.com, or call 1-888-61-RETEK. Retek can be contacted in Europe at +44 20 7563 4646.
Trademarks
Retek and retail.com are trademarks 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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