Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Albertsons will begin implementing this year UCCnet data integration services to improve the flow of products to more than 2,300 stores.
Albertsons Inc., one of the two largest supermarket chains in the U.S., will begin implementing this year UCCnet data integration services to improve the flow of products to its more than 2,300 stores, the retailer said today.
"Albertsons is dedicated to partnering with UCCnet and our suppliers in this industry-changing technology," said Larry Johnston, chairman and CEO of Albertsons. "UCCnet global registration and synchronization services will enable us with integrated data to manage our supply chain effectively as we build our growth momentum in an increasingly competitive marketplace."
UCCnet`s services check for synchronization of product data, such as descriptions of dimensions and weight, when companies input their product data into the web-based UCCnet GlobalRegistry. By making sure that retailers and suppliers are all using the same data, UCCnet helps companies reduce the number of errors in purchase orders and invoices. UCCnet cites a study by consultants A.T. Kearney that estimated 3.5%, or $40 billion, of retail sales each year are lost due to data errors in product catalogs, invoices and other documents.
Albertsons said UCCnet will enable it to more efficiently collect product data from its suppliers and extend it to all stores, supporting an improved flow of products onto store shelves. "Our relationship with UCCnet will enable new supply chain efficiencies that will help us more effectively meet our customers` shopping needs," said Bob Dunst, executive vice president and CTO of Albertsons.
UCCnet is a not-for-profit unit of the Uniform Code Council Inc. dedicated to helping companies share information with trading partners.