Best Buy Creates Alliance with Partsearch Technologies to Develop Master Parts Catalog for Industry.Business Editors & Technology Writers MINNEAPOLIS--(BUSINESS WIRE)--Nov. 27, 2001 Best Buy Co., Inc. (NYSE NYSE See: New York Stock Exchange :BBY BBY Best Buy (stock symbol) BBY Before Battle of Yavin (Star Wars) BBY BeBeyond (Chinese online community) ), the nation's number one specialty retailer of consumer electronics, personal computers, entertainment software and appliances, today announced an alliance with Partsearch Technologies to build a Master Parts Catalog Noun 1. parts catalog - a list advertising parts for machinery along with prices parts catalogue catalogue, catalog - a complete list of things; usually arranged systematically; "it does not pretend to be a catalog of his achievements" for model-specific replacement parts and accessories. The catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. will provide a comprehensive research and procurement solution that will centralize cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. model-specific parts information in the consumer electronics, major appliance A major appliance is usually defined as a large machine which accomplishes some routine housekeeping task, which includes purposes such as cooking, food preservation, or cleaning, whether in a household, institutional, commercial or industrial setting. , computer and cellular phone categories. "The current system for identifying and ordering parts is extremely inefficient," said Dean Summers, founder and president of Partsearch Technologies. "By aggregating parts information for all of the products sold on the retail floor, Partsearch's solution will enable retailers and service providers to improve their service to customers and reduce the costs associated with product repairs." "Our objective is to build the most comprehensive and robust Master Parts Catalog possible. By enlisting the support of the entire industry in the development of the catalog, it will enhance the accuracy, timeliness and completeness of the data, which ultimately will benefit the entire industry," said Glenn Laumeister, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Partsearch. Best Buy's involvement with the creation of the Master Parts Catalog is part of an ongoing initiative to simplify the industry's service processes. "Best Buy is excited to be part of the creation of a new industry standard in this area," said Mike Marolt, senior vice president of Retail Operations for Best Buy. "Identifying and ordering service parts is a major challenge for all retailers. We look forward to working with manufacturers and other retailers in this important effort. The Master Parts Catalog builds off of Partsearch's current product offering that allows retailers to sell model-specific parts and accessories to their customers, and is used by Best Buy and other retailers. About Best Buy Co., Inc. Minneapolis-based Best Buy Co., Inc. (NYSE:BBY) is the nation's number one specialty retailer of consumer electronics, personal computers, entertainment software and appliances. The Company operates retail stores and commercial web sites under the names: Best Buy (BestBuy.com), Magnolia Magnolia, city, United States Magnolia (măgnō`lyə), city (1990 pop. 11,151), seat of Columbia co., SW Ark.; inc. 1855. Its oil industry has been important since 1938. Hi-Fi (MagnoliaHiFi.com), Media Play (MediaPlay.com), On Cue (OnCue.com), Sam Goody Sam Goody is a music and entertainment retailer in the United States and formerly in the United Kingdom. It is owned and operated by Musicland, which itself is owned by former rival Trans World Entertainment which also runs Suncoast Motion Picture Company and, until January 2006, (SamGoody.com) and Suncoast (Suncoast.com). The Company reaches consumers through more than 1,800 retail stores nationwide, in Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. and in the U.S. Virgin Islands. For more information visit www.bestbuy.com. About Partsearch Technologies New York-based Partsearch Technologies (www.partsearch.com) is an information technology company providing repair parts information, software and services to support retailers and manufacturers in improving service to their customers. Currently Partsearch Technologies is supporting the consumer electronics, computer, appliance and cellular industries. Partsearch's solution centralizes the research and procurement of replacement parts making model-specific parts and accessories easy to find and purchase. Partsearch markets its services through major retailers, and service centers that repair products in the categories covered by the Master Parts Catalog. Partsearch customers include Best Buy (NYSE:BBY), the nation's number one electronics retailer. |
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