Big Lots Selects ThinkFast Retail For Merchandise Planning and Analytics Solution; For ThinkFast, the deal fuels 26% annual growth.

Business Editors

CHICAGO--(BUSINESS WIRE)--Jan. 12, 2004

ThinkFast Consulting, a leading provider of corporate performance management (CPM) and information intelligence solutions, announced today that it will partner with Big Lots, the nation's largest broadline closeout retailer, to build a comprehensive merchandise planning, analysis and reporting framework for the $4 billion retailer's chain of stores in 45 states.

The solution will provide Big Lots with an enterprise-wide planning environment and robust analytics platform designed to further the company's growth and streamline its complex supply chain. "We remain focused on providing our customers the products they want at each individual store in a timely manner," said Lisa Bachmann, senior vice president of merchandise planning and allocation at Big Lots. "With this solution, Big Lots will gain the ability to access information on-demand to proactively plan and move products through our supply chain in a cost-effective manner. This is a strong step toward meeting our business strategies and company growth objectives."

Big Lots will implement the ThinkFast Retail merchandise planning framework to support the merchandise planning decision-making process providing a seamless integrated single-user experience through standardized metrics of performance.

"We are proud that Big Lots has chosen to work with our organization in building a comprehensive merchandise planning and analytical solution. Our goal is to help the company leverage its information to generate visibility across the entire value-chain," said Tom Phelps, President of ThinkFast Consulting. "The naming of Big Lots to the InformationWeek 500, CMP Media's list of innovative IT users in the United States, is testament to the company's desire to retain its leadership position in the retail industry.

ThinkFast Retail Practice Grows by 26% -- Adds Two Merchandise and Operation Planning Veterans to Retail "Dream Team"

ThinkFast also announced today that its retail practice has grown 26 percent during the past year and now includes leading retail clients such as Big Lots, Saks Incorporated, Helzberg Diamonds, Wal-Mart and others. The Chicago-based company is working with these retailers to deploy Corporate Performance Management (CPM) initiatives designed to integrate their people, processes and data and more effectively leverage, access and analyze information.

ThinkFast recently bolstered its retail practice with the addition of two retail industry veterans - Kate Gorman and Elizabeth Odom. Each brings more than 15 years experience in building and deploying solutions in the merchandise and operations planning categories. Odom joined ThinkFast after more than 20 years working with leading retailer Zale Jewelers in building out their merchandise and operations planning and analysis capabilities. Gorman previously held executive positions with leading software application providers.

"We are clearly on a fast-path to grow our retail practice, given the depth of our experience and the caliber of our people," said Phelps. "We recognize that retailers are leaders in recognizing the power that information and analytics can provide to empower their people in making more intelligent decisions to fuel growth and retain customers."

About ThinkFast Consulting, Inc.

ThinkFast Consulting, Inc. is dedicated to delivering Corporate Performance Management (CPM) solutions that integrate people, process and data to drive performance. Their solutions allow customers to improve planning, monitor results, analyze and anticipate changes and opportunities, and act. As one of the largest services firms in the nation solely dedicated to CPM, their customers are increasing profitability, enhancing client relationships and expanding market share. ThinkFast is headquartered in Chicago, and has local offices in Dallas, Detroit, Houston, San Francisco, and St. Louis. For more information, visit: www.thinkfast.com.

Big Lots, Inc. (www.biglots.com) is the nation's largest broadline closeout retailer with annual revenues exceeding $4 billion. Headquartered in Columbus, Ohio, Big Lots operates more than 1,400 retail stores serving 45 states. Four regional distribution centers throughout the country, ranging in size from 1 million to 3 million square feet, provide the company's stores with brand name products from more than 3,000 manufacturers. Big Lots offers merchandise at 20 to 40 percent below most discount retailers and up to 70 percent below conventional retailers. Founded in 1967, the company employs more than 40,000 associates across the U.S. By creating excitement with brand-name closeouts and bargains through a unique shopping experience, Big Lots meets the needs of customers by providing an assortment of merchandise including consumables, seasonal products, furniture and home, housewares, toys, and gifts. Big Lots, a Fortune 500 company, is traded on the New York Stock Exchange under the symbol BLI.