KarstadtQuelle Selects TradeStone Software to Unite Global and Direct Sourcing Operations.GLOUCESTER, Mass. -- Europe's Leading Department Store and Mail Order Group to Implement ''One Way to Buy'' TradeStone Software, the leader in global sourcing and order management solutions, today announced that the sourcing arm of European retail giant KarstadtQuelle has selected TradeStone to provide an important part of the technology backbone for its global sourcing operation. The TradeStone Unified Buying Engine will serve as the platform for KarstadtQuelle's sourcing operation, and will be augmented by the addition of TradeStone's modular applications for Product, Sourcing, Logistics, Finance, Unified Order Management and Product Lifecycle Product lifecycle or product life cycle is the course of a product's sales and profits over time. The five stages of each product lifecycle are product development, introduction, growth, maturity and decline. Management. Initially KarstadtQuelle International Services AG, the international buying agent Buying agents (also known as relocation agents or property search agents) is a term used in the UK to describe people acting as agents on behalf of a buyer and not the seller, as do traditional Estate agents (or, in the United States, Real estate brokers) whose job is of KarstadtQuelle Group, will use TradeStone's Finance Module to streamline its financial operations. This is important because KarstadtQuelle International Services AG offers its sourcing services to other independent retailers and must comply with those retailers' unique billing and documentation requirements, as well as internal invoicing and vendor payment for goods bought on its own behalf. For example, the Finance Module will enumerate To count or list one by one. For example, an enumerated data type defines a list of all possible values for a variable, and no other value can then be placed into it. See device enumeration and ENUM. all the elements (line items) of an original order and, in turn, trigger the generation of other documents such the packing list, ASN (1) (Autonomous System Number) A unique identifier of an autonomous system on the Internet. Of the 65 thousand ASNs available, more than 30 thousand have been assigned to ISPs and NSPs. ISPs usually have only one ASN, but NSPs may have more than one. (advance ship notice), the bill of lading A document signed by a carrier (a transporter of goods) or the carrier's representative and issued to a consignor (the shipper of goods) that evidences the receipt of goods for shipment to a specified designation and person. , the commercial invoice Commercial invoice Bill for merchandise sold. and the service invoice. These documents--and the detailed information regarding carriers, shippers, country of origin, export country, import country and final destination--are essential for meeting global trading security standards and clearing customs without delay. This synchronization in the supply chain is a unique performance enhancement that speeds product to market. "Sourcing globally is complex for any company, regardless of whether that company is located in the Americas, Europe, Asia or Africa," said Sue Welch, 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. of TradeStone Software. "A retail giant like KarstadtQuelle not only needs to carefully manage the international sourcing process, but also meet the financial demands of special regulations which require meticulous accounting and tracking. Only by integrating all the pieces can this be possible." The implementation of TradeStone's Unified Buying Engine and Finance Module is KarstadtQuelle's first step towards migrating their entire sourcing operation to the TradeStone Suite, the first order management application to marry product planning Product Planning is the ongoing process of identifying and articulating market requirements that define a product’s feature set. See also
"We want to offer our customers the best merchandise from around the world, with consistent quality and good prices," stated Carsten Wolff, Managing Director of KarstadtQuelle International Services AG. "Investing in the TradeStone Suite is part of our continued drive to improve our sourcing capabilities and services." About KarstadtQuelle International Services AG As an international buying Agent operating 25 local offices in Asia, Turkey and Eastern Europe Eastern Europe The countries of eastern Europe, especially those that were allied with the USSR in the Warsaw Pact, which was established in 1955 and dissolved in 1991. , KarstadtQuelle International Services AG offers professional buying services for sourcing consumer products from more than 60 countries. The services are offered to customers from the KarstadtQuelle Group as well as external customers, including Mail-Order Business, Department Stores, Wholesales and Specialty Stores. KarstadtQuelle International Services AG is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of KarstadtQuelle AG. KarstadtQuelle AG, based in Essen/Germany, is Europe's leading department store and mail order group. The KarstadtQuelle Group achieved sales of EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 15.7 bill. in the 2005 financial year. About TradeStone TradeStone Software enables retailers and manufacturers to plan, design, collaborate on and purchase goods from across the world as easily as from across the street. TradeStone's Unified Buying Engine uses Web services technology to layer across an organization's existing infrastructure while its modular software fills in buying process gaps to provide a single view, access and interaction across the entire procurement process. The first and only complete solution for global sourcing and unified order management, TradeStone's intuitive, "No Training" technology helps people throughout the supply chain to collaborate globally, enabling users to focus on speeding innovative products to market. Marquee customers include American Eagle Outfitters, The Children's Place, Deutsche Woolworth, Ocean State Job Lot, Pacific Alliance and Federated Connected and treated as one. See federated database and federated directories. Department Stores. TradeStone Software is based in Gloucester, Mass. and can be found on the Web at http://www.TradeStoneSoftware.com. |
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