SOURCE: GT Nexus

June 12, 2007 06:28 ET

Cost Plus World Market Deploys Global Trade and Logistics Operating Platform on GT Nexus Portal

Leading Specialty Retailer Managing Import Operations Over the Web, On-Demand

ALAMEDA, CA--(Marketwire - June 12, 2007) - GT Nexus announced today that its global trade and logistics portal is being used by Cost Plus World Market (NASDAQ: CPWM) to improve purchase order management, inventory movement and supply chain cash flow.

Cost Plus World Market is a leading specialty retailer of casual home living and entertaining products. The company operates over 294 stores in 34 states and reported 2006 revenues in excess of $1 billion.

Serving as the retailer's global trade and logistics operating platform, the system connects global service providers and multiple internal divisions over a single online hub, creating a centralized data repository of every purchase order, shipment, item, event, document and cost element in the supply chain. The data hub powers applications for tracking inventory, managing partners, optimizing logistics spend and analyzing performance.

"This has rapidly become a key system for our operations," said Ray Whitley, Senior Vice President, Supply Chain, at Cost Plus World Markets. "We've got users throughout the world working in logistics, freight forwarders, merchandising, distribution, finance and customs, logging in to GT Nexus, over the Web, to find information they need to do their jobs better."

The platform is a combination of two components:

1. A global trade and logistics data hub that combines infrastructure and integrations with ocean carriers, brokers, consolidators, truck carriers, distribution centers and three internal World Market systems.

2. Process management applications for inventory visibility, transportation management, trade document automation, business intelligence and landed cost analysis.

"World Market immediately recognized the potential of an on-demand global supply chain control center," noted Greg Johnsen, EVP of marketing at GT Nexus. "Now they have reached a point where they are leveraging the platform to accomplish things that were literally impossible a few years ago."

The on-demand applications on the platform are designed in a way that allows the retailer to easily configure access, permissions and views based on the needs of an individual user. For example:

--  A buyer logs on to the system to check the status of her purchase
    orders and overall pipeline inventory. She's also got an accurate picture
    of the lead times and variability which helps with her purchase order
    planning.
    
--  An inventory accounting user can take the status information and more
    accurately assign cost to inventory.
    
--  A customs compliance manager can access documents and pull data from
    the platform to prepare entry forms. This reduces customs delays that are
    caused by missing or incomplete documentation.
    
--  A DC Manager uses the platform to plan receiving labor and space
    requirements. He can also streamline his receiving process by seeing what's
    coming in. He can plan daily receipts, and make trade offs based on last
    free day, and company priorities.
    
As part of the roll out, World Market and GT Nexus embarked on a thorough data quality improvement program to ensure all supply chain partners were feeding accurate, up-to-date information into the platform. Through a combination of data management applications and processes the retailer now has most providers delivering data that's accurate over 95% of the time.


About Cost Plus World Market

Cost Plus, Inc (NASDAQ: CPWM) operates 294 stores in 35 states under the names "World Market" and "Cost Plus World Market." The stores feature an ever-changing selection of casual home furnishings, housewares, gifts, decorative accessories, gourmet foods and beverages offered at great prices and imported from more than 50 countries. Many items are unique and exclusive to Cost Plus World Market. All are regularly supplied by an international network of individual and regional artisans developed over the Company's 40-plus years in the import business. The value, breadth and continual refreshment of products invites customers to come back throughout a lifetime of changing home furnishings and entertaining needs. For more information, visit http://www.worldmarket.com.

About GT Nexus

GT Nexus runs the world's only industry-backed, on-demand global trade & logistics portal. Today, more than 40,000 registered users, from over 15,000 organizations use a range of capabilities on the portal to optimize the global flow of goods and trade information from order point to final payment. GT Nexus connects the physical and financial supply chains. This allows buyers, sellers, banks and logistics providers to work over a common platform with a core set of information that supports multiple trade and logistics functions. Customers include Xerox, American Eagle Outfitters, Procter & Gamble, Weyerhaeuser and The Home Depot. For information, visit www.gtnexus.com.

Contact Information

  • Media Contact
    Greg Kefer
    Director, Corporate Marketing
    GT Nexus
    +1-510-747-3229
    Email Contact