Brisbane, CA — May 19, 2003 — Supermarket chain Albertsons is set to standardize on a product information management solution from Trigo for more than one million grocery and pharmaceutical items sold by Albertsons' 2,300 retail stores in 31 states.
Albertsons is one of the world's largest food and drug retailers, with annual revenues of approximately $36 billion. Based in Boise, Idaho, the company has more than 200,000 employees.
Not only will Albertsons be using Trigo's Product Center solution, the chain also announced today that it has asked its vendors to electronically synchronize product information with Product Center in industry-standard format by the start of next year.
UCCnet, the not-for-profit organization that provides item registry and data synchronization services, will be the preferred method for vendors to register and synchronize their data. The supermarket chain's new product data system supports industry standards for electronic item synchronization and enables information exchange through UCCnet and the Albertsons supplier Internet portal.
Bob Dunst, executive vice president and chief technology officer of Albertsons, said the company's initiative to develop a central repository of comprehensive, accurate product information that is seamlessly synchronized with its suppliers' data would be key to the chain's goal of becoming the preferred retailer for its vendors.
"Our new system will allow us to provide the best customer experience across all touchpoints and will enhance the company's overall performance," Dunst said. "We are building the foundation for future strategic initiatives, from faster new product introductions to a comprehensive pricing and promotions infrastructure, to a richer and more targeted experience for our customers. Our new product data system is expected to deliver significant improvements in the relationships we create with our customers and suppliers alike."
Dunst said product information management and item synchronization would improve the quality, consistency and accuracy of the massive amount of item information that Albertsons manages. He added that the new system would enable a wider range of pricing and promotional initiatives and ensure relevant and timely product and pricing information in the store and at the shelf.
Independent industry studies estimate that supply-chain inefficiency and inaccuracy cost the consumer products manufacturing and retail industries $40 billion a year. The studies point out that product information management and item synchronization can reduce time-to-market for product introductions, facilitating additional sales on new items. Data inaccuracies also are listed as a leading cause of out-of-stock situations and mismatched inventories.
"Albertsons' decision to standardize on Trigo Product Center validates the importance of product information management and item synchronization as strategic business initiatives for retailers," said Tom Reilly, CEO for Trigo. "Leading retailers such as Albertsons understand that their business is driven by their customers and the products they want to purchase."
Reilly said that by establishing a comprehensive system of record for all product information — what Trigo calls a "golden source of truth" — Albertsons would be able deliver a better customer experience, improve supplier relations, drive business performance and create a competitive edge.
