Canadian Tire and Industri-Matematik Announce Supply Chain Agreement
TORONTO and MT. LAUREL, N.J.--Jan. 29, 2001Industri-Matematik Software Selected for Supply Chain Event Management; Partnership Supports Development of Internet-based Supply
Chain Capabilities
Canadian Tire Corporation, Limited , Canada's most-shopped retailer, and Industri-Matematik International Corp. today announced a broad supply chain partnership. The agreement includes product licensing, co-development of software and shared resources to accelerate the development and introduction of VIVALDI(TM) Net Series, Internet-based, supply chain event management (SCEM) software by Industri-Matematik.
Industri-Matematik VIVALDI Net Series will be implemented as a central component of Canadian Tire's supply chain-wide process improvement and technology initiative to expand regional operations, improve multi-channel distribution, increase supply chain capacity, and reduce product handling and transportation costs.
Canadian Tire is already implementing Industri-Matematik's VIVALDI Advanced Order Management software for managing store orders, purchase orders, inventory and "available-to-promise" capabilities. By integrating the new VIVALDI Net Series capabilities within this process improvement initiative, Canadian Tire will improve inventory visibility by leveraging web-enabled technology to monitor, accelerate, and measure the physical movement of goods in its extended supply chain network.
"Industri-Matematik is an excellent partner. This unique combination of order management and end-to-end network visibility will enable us to meet the high service expectations of our customers and reduce cost," said Patrick Sinnott, senior vice-president Supply Chain, Canadian Tire Corporation, Limited.
The partnership includes licensing of Industri-Matematik's base SCEM components and the sharing of supply chain and technology expertise. The joint effort will help accelerate the development of future Industri-Matematik VIVALDI Net Series components and significantly enhance Canadian Tire's supply chain capabilities.
"Canadian Tire is one of the first major retailers to look across its trading network to see where inventory is located at any point in time and respond quickly in a targeted fashion to exceptions in the supply chain," said John Geraci, executive vice-president and chief operating officer at Industri-Matematik. "Canadian Tire will provide a model for the retail industry in how to leverage supply chain visibility to handle increased product volume generated by growth strategies, while also improving service excellence."
About VIVALDI Net Series
Developed on an Internet-based, component architecture, Industri-Matematik VIVALDI Net Series supply chain event management software helps companies to coordinate, monitor and measure the physical movement of products in the supply chain. It enables total inventory visibility as well as unprecedented levels of collaboration among different players in a supply chain. The software provides timely, accurate and unambiguous information that all supply chain players - suppliers, logistics service providers, shippers, freight forwarders, Internet trading exchanges and customers - can leverage for competitive advantage.
About Canadian Tire
Canadian Tire Corporation, Limited - Canada's most-shopped retailer - offers a unique mix of products and services through three distinct, yet inter-related, businesses. Canadian Tire Retail and the Associate Dealers together form one of Canada's best-known and most successful retailers, offering customers the convenience and leadership of three specialty stores under one roof - Automotive, Sports and Leisure, and Home Products. Canadian Tire recently opened its new consumer web-store, www.canadiantire.ca, offering Canadians the convenience of more than 5,500 products in automotive, sports, leisure and home products. Canadian Tire Financial Services manages related financial products and services for retail and petroleum customers. Canadian Tire Petroleum is one of Canada's largest independent retailers of gasoline, with 205 outlets. With 438 Canadian Tire Associate Stores serving communities nationwide, Canadian Tire and its Associate Dealers together employ more than 38,000 Canadians.
About Industri-Matematik
Industri-Matematik International Corp. (www.im.se) provides high performance fulfillment and customer service software solutions for B2B and B2C e-commerce. Its applications help companies achieve a Zero Inventory/100 Percent Visibility business model by replacing inventory with information to improve collaboration within a trading community and speed the movement of goods across a supply chain. Customers include market-leading companies such as Canadian Tire, British Airways, Carlton & United Breweries, Ericsson, FedEx Corp., Starbucks and Warner/Elektra/Atlantic.
"VIVALDI" is a trademark of Industri-Matematik International Corp. Other product and company names may be the trademarks of their respective owners.
The statements contained in this release that are not historical facts contain forward-looking information with respect to plans, projections or future performance of Industri-Matematik and further versions of its software products, the achievements of which involve certain risks and uncertainties, including, but not limited to, product demand and market acceptance risks, the effect of economic conditions particularly in its target markets, the impact of competitive products and pricing, product development, commercialization and technological difficulties and other uncertainties detailed in Industri-Matematik's filings with the Securities and Exchange Commission, particularly its Annual Report on Form 10-K filed in July 2000.