Eqos CEO Delivers Important Message on World Class Sourcing to Executives at the Retail Week Supply Chain Conference
London, UK - Sept 12, 2006 - Mike Quinn, chief executive officer, Eqos, gave a presentation entitled "Strategic Considerations for World Class Sourcing" at the Retail Week Supply Chain Conference in London today. This important forum is a major event for retail executives, analysts and other industry influencers.
Quinn's keynote conveyed a vision for retailer leadership based on the ability to build and achieve world class sourcing capabilities. Backed by data from analysts Aberdeen Group and consultants McKinsey, he focused on the benefits gained by leading retailers that work collaboratively with key suppliers to enhance cross-company product development processes and also to adopt joint innovative packaging and marketing strategies.
"More than 70-80 per cent of retail personnel time is being spent on administrative tasks rather than the prime job," explained Quinn. "In addition one retailer calculated that it took 48,000 spreadsheets to launch just one new product line. There is virtually no integration, even between core business systems, and processes are heavily demarcated so there's little visibility and control and, as a result, sourcing is slow and cumbersome."
However, by working more collaboratively, Eqos customers such as Best Buy and Tesco are benefiting from a faster time to market, better product availability, a more competitive offer and broader access to global sources.
"This results in a better bottom line, reduced prices, improved efficiencies, regulatory compliance and the ability to manage risk better," added Quinn.
Among the retailers who attended the conference were operations and supply chain directors and senior buying, development and planning executives from Comet, Currys, Homebase, John Lewis, Next, Principles, TK Maxx, Travis Perkins, W.H. Smith and Woolworths.
About Eqos
Eqos is a leading provider of global sourcing and supplier management solutions for the retail supply chain. Founded in 1997, Eqos has offices in the UK and the US. Eqos' solutions streamline processes from product concept through development, buying, manufacturing and delivery to the retailer. Eqos' solutions are built on an award-winning collaboration platform that enables the rapid configuration of processes between retailers, their suppliers, buying offices and other trading partners. Leading retailers such as Best Buy, Debenhams, Sainsbury's, Tesco and Virgin Megastores are among Eqos' customers. More information can be found at www.eqos.com
For further information, please contact:
Dayna Guzik, DPR Group Inc, USA
Tel: +1 919 678 9200
E-mail: dguzik@dprgroup.com
Linda Laderman @ Laderman PR
Tel: +44 (0)20 7436 6676
Fax: +44 (0)20 7580 0555
E-mail: lindal@ladermanpr.co.uk
