Best Buy Selects i2 to Optimize Operations; Streamlines Planning Process, Integrates Physical and Internet Stores.Business/Technology Editors DALLAS--(BUSINESS WIRE)--June 7, 2000 i2 Technologies, Inc. (Nasdaq:ITWO ITWO I2 Technologies (stock abbreviation, AMEX) ), the leading provider of intelligent eBusiness solutions, today announced that 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 number one retailer of consumer electronics, has purchased an entire suite of supply chain, logistics, planning and e-commerce tools. With the assistance of i2, Best Buy will integrate its strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. with merchandise and financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against , to improve the customer's experience. i2 will also help Best Buy enhance its e-commerce offering and better link operations of its online store with physical stores. "Best Buy is revolutionizing retail strategic planning and execution," said Reagan Lancaster, i2's executive vice president. "This is an exciting implementation that will have a significant impact on Best Buy's customers and the entire retail industry." i2's demand planning solutions are designed to enable Best Buy to analyze point-of-sale data to predict customer buying patterns, enabling the company to minimize out-of-stock merchandise situations and optimize the product mix. The tools will also help Best Buy plan product promotions by forecasting demand and the effect of promotions on other merchandise sales. Once demand and promotions are planned, i2's supply chain solutions can be used to assist in timely delivery of store merchandise from third-party suppliers and transportation companies through every step of the process and permit rapid resolution of potential problems. i2 products can be used to offer Best Buy a seamless view into its supply chain through product sourcing. This value chain maximizes fulfillment ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. of customer expectations while controlling costs. "Best Buy's goal is to make the shopping experience more satisfying and fun for our customers--that is, making available the merchandise they want when they want it," said Lynn Morris, Best Buy vice president, Procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. Reengineering. "i2 has the solutions we need for both our online and brick-and-mortar operations." About i2 i2 is the leading global provider of intelligent eBusiness solutions. Founded in 1988, i2's vision is to add $50 billion of value for its customers by the year 2005. i2 is headquartered in Dallas, has approximately 3,600 employees and maintains offices worldwide. Visit i2's Web site at http://www.i2.com. TradeMatrix(TM) is a comprehensive electronic business solution that enables companies to deploy business-to-business and business-to-consumer portals. TradeMatrix offers the broadest spectrum of solutions and hosted services available including procurement, commerce, fulfillment, customer care, retail, planning and product development enabling customers, partners, suppliers and service providers to conduct business in real-time. TradeMatrix services and marketplaces are powered by i2's advanced optimization optimization Field of applied mathematics whose principles and methods are used to solve quantitative problems in disciplines including physics, biology, engineering, and economics. and execution capabilities for improved decision-making. i2 and the i2 logo design are registered trademarks of i2 Technologies, Inc. TradeMatrix is a trademark of i2Technologies, Inc. About Best Buy Co., Inc. Minneapolis-based Best Buy Co., Inc. is the nation's largest volume specialty retailer of consumer electronics, personal computers, entertainment software and appliances. The Company operates 361 retail locations in 40 states, and will launch its new e-commerce site at http://www.bestbuy.com in the near future. Cautionary Language: This press release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties, including statements regarding the expected delivery and benefits of use of the i2's products. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements are competition, market demand, technological change, strategic relationships, recent acquisitions, international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. , and general economic conditions. For additional discussion of factors which could impact i2's financial results, please refer to i2's recent filings with the SEC, particularly the Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed March 22, 2000. |
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