Best Buy Selects GE Global eXchange Services to Provide E-Business Transaction Services.
SALT LAKE CITY--(BUSINESS WIRE)--May 22, 2002
GXS to help Best Buy Co., Inc. streamline e-business processes and
reduce supply chain costs
GE Global eXchange Services (NYSE:GE), a leader in business-to-business Internet commerce, today announced that it has been selected by Best Buy Co., Inc. (NYSE:BBY) to provide e-business services designed to enhance the electronic transaction capability between Best Buy and its trading partners.
Value added network services from GE Global eXchange Services (GXS) will help Best Buy continue to streamline e-business processes and reduce supply chain costs. The announcement was made at the Uniform Code Council's U Connect Conference.
GXS will be providing the following services to Best Buy:
-- Transaction processing - for the exchange of business documents in standardized electronic data interchange (EDI) format
-- Client implementation services - to help Best Buy successfully implement electronic document exchange with individual trading community members
-- Electronic document communications monitoring and management - for 24-hour mission-critical data transmission between Best Buy and its trading partners
"By focusing on providing our customers with the widest selection of products, Best Buy will continue to extend our business leadership in the market," said Patricia Vessey, director of E-Business Communication for Best Buy. "The full range of E-business services from GXS allows us to continue to enhance our supply chain operations."
"One of the keys to competitiveness in retail is making sure that supply chain processes are optimized to respond smoothly and quickly to customer demand," said Steven Scala, GXS's vice president of marketing. "We are excited about the opportunity to provide e-business services that will help Best Buy maximize supply chain efficiency."
About Best Buy Co., Inc.
Minneapolis-based Best Buy Co., Inc. (NYSE:BBY) is North America'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), Future Shop (FutureShop.ca), Magnolia Hi-Fi, Media Play (MediaPlay.com), On Cue (OnCue.com), Sam Goody (SamGoody.com), and Suncoast (Suncoast.com).
The Company reaches consumers through more than 1,900 retail stores nationwide, in Canada, Puerto Rico and in the U.S. Virgin Islands.
About GE Global eXchange Services
GE Global eXchange Services (GXS) operates one of the largest B2B e-commerce networks in the world, with more than 100,000 trading partners. The network's 1 billion annual transactions account for $1 trillion in goods and services.
With a presence in 58 countries, GXS applies Six Sigma quality processes to provide e-commerce solutions that help businesses around the globe remove costs from their supply chains. GE Global eXchange Services is a part of the General Electric Company, U.S.A., and is headquartered in Gaithersburg, Md. Call (800) 560-4347 or visit our Web site at www.gxs.com.