European Logistics Giant Expands Offering with QRS Sourcing™
RICHMOND, Calif. – February 13, 2003 - QRS Corporation (Nasdaq: QRSI) today announced that Tibbett & Britten Group, a UK-based international logistics service provider, will incorporate QRS Sourcingâ„¢ as a key component of its global supply chain management solution. As a result of the agreement, Tibbett & Britten and QRS will jointly deliver solutions that enable European retail companies to better manage supply chain processes across global trading communities and bring products to market more efficiently.
Tibbett & Britten selected QRS Sourcing to meet the growing demand for solutions that improve the direct importing of goods. Traditional food retailers are increasingly turning to non-food products such as textiles and clothing to improve margins and better meet the changing needs of their customers` buying patterns. With QRS, Tibbett & Britten is expanding its expertise in cross-border sourcing to offer a software solution designed specifically to enable retailers to design, source, and ship branded goods in collaboration with a global supply base. Key capabilities include strategic sourcing, order management and logistics, transportation and distribution, financial tracking, and customs.
"We are very pleased to offer this leading solution to the European marketplace," said Mike Arrowsmith, Tibbett & Britten Group CEO. "QRS Sourcing is a perfect complement to our supply chain management capabilities, and this is an exciting opportunity to work together with QRS to better meet the needs of our customers."
QRS Sourcing provides visibility and accountability from concept creation to final delivery, bringing the entire workflow process into a single system. With communication, costing and tracking capabilities, QRS Sourcing optimizes supplier selection and saves time and effort in developing line lists, relaying changes to manufacturing partners, handling purchasing and finance, clearing customs, and tracking orders for on-time shipments.
Global retail companies such as Argos, KarstadtQuelle, American Eagle Outfitters, Federated Department Stores and Payless ShoeSource are using QRS Sourcing to reduce lead times, achieve target margins and deliver products that capture consumer trends.
"We`re very pleased to be working with such an industry leader in the European market," said Liz Fetter, president and CEO of QRS. "This agreement strengthens our ability to deliver powerful solutions that address real business problems for the global retail trading community."
About Tibbett & Britten Group
Tibbett & Britten Group plc is a UK-quoted multinational logistics service provider focused on supplying warehousing, distribution and supply chain management services under long-term contract to manufacturers, retailers and distributors of food and drink, clothing and other branded consumer merchandise. Services are primarily intra-regional and include both conventional logistics and e-commerce support. The Group employs 36,000 people across 34 countries. Learn more about Tibbett & Britten at http://www.tibbett-britten.com.
With headquarters in Richmond, California and operations across North America and Europe, QRS (Nasdaq: QRSI) has been building solutions that automate the way companies connect, transact and collaborate since 1988.
Today, QRS delivers collaborative commerce software and services that enable retailers, manufacturers and suppliers to bring products to market quickly and profitably. QRS offers the North American retail industry`s largest source of product information for accurate retail partner transactions. QRS also allows companies to see and manage processes across the supply chain so that problems can be detected and resolved. More than 8,000* customers from over 20 vertical market – including Sears, Roebuck and Co., Selfridges plc, KarstadtQuelle AG, and Clarins Group USA – use QRS to meet customer needs, compress cycle times, reduce costs and improve sales margins. Learn more about QRS at www.qrs.com.
* Based on total, unique QRS corporate customers that purchased or licensed QRS products and services between January and December 2002.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
This release contains forward-looking statements regarding future events and the future financial performance of QRS Corporation that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed by QRS Corporation with the SEC, specifically the most recent reports on Form 10-K, 8-K, and 10-Q, each as it may be amended from time to time, which identify important factors that could cause actual results to differ from those contained in the forward-looking statements, including risks associated with general economic conditions; specific conditions in the retail industry; competition; changes in our senior management; rapid technological change in our industry; dependence upon key customers and their trading partners; ability to introduce and market acceptance of new products and services; the ability to successfully integrate and manage acquired businesses and technologies; and dependence upon IBM for e-commerce services, among others. QRS assumes no obligation to update the forward-looking information contained in this news release.
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