Leading Retailers Bring Two Organizations Together to Form Product Specification Committee
(GLOUCESTER, MASS, AUGUST 19, 2009) TradeStone Software, delivering Merchandise Lifecycle Management solutions that unify the design, sourcing and delivery of private label and branded goods, today announced they have partnered with the Association of Retail Technology Standards (ARTS), the technology standards division of the National Retail Federation. Together TradeStone and ARTS are working closely with leading retailers including Urban Outfitters, Lowe’s, Macy’s and Kohl’s as a Product Specification Committee to develop product standards for private label and branded goods.
TradeStone’s February PLM for Retail Standards Committee meeting involving retailers Guitar Center, Auchan, Pacific Sunwear and others has evolved into a retailer-led effort and collaboration with ARTS. The newly formed Product Specification Committee is working on enhancing the ARTS Item Schema and GS1 standards to develop XML schema representation for item specification focused on new product development. The Committee also aims to support accurate data capture for driving efficient product development cycles, communication with different parties involved (buyer, supplier, manufacturer, inspection/testing companies) and master data management.
“Urban Outfitters already uses ARTS standards for several of our internal systems, therefore this is a natural extension for us that will fit in well with the work we are doing with TradeStone’s Merchandise Lifecycle Management solutions,” said Mike Sparks, Director of Supply Chain Systems, Urban Outfitters.
Product Specification Committee meetings have already begun, initially focusing on Product Quality and Testing and Product Construction including Colors, Materials and Components. Future meetings will cover Labeling, Packaging and Handling, Merchandise Calendars and Merchandise Hierarchy.
“Our customers identified the opportunity to standardize product specifications related data for private label and new product development,” said Kamal Anand, CTO, TradeStone Software and Committee Co-Chair. “We reviewed the ARTS process for developing retail standards and their global implementation rate and decided it was best to develop these standards within ARTS. We look forward to working with them and with Lowe’s, Urban Outfitters, TJX and others on this exciting project.”
About TradeStone Software, Inc.
TradeStone provides merchandise lifecycle management software that enables the world’s most successful retailers to bring innovative and highly profitable private label products to market at record speeds. TradeStone’s Merchandise Lifecycle Management suite, which consists of PLM for Retail, Global Sourcing, Order Management, Supplier Management and Logistics and Finance deliver radical results – 200 to 400 basis points to the bottom line; sales increases of 3 – 6 percent; average consumer spend increases of seven percent; and sell through at margins of 78 percent. TradeStone customers include American Eagle Outfitters, Boots, Deutsche Woolworth, Guitar Center, Kohl’s, Macy’s, NBrown Catalog Company, Pacific Sunwear, Regatta, Shoprite, The Children’s Place and Urban Outfitters. TradeStone Software is headquartered in Gloucester, Mass., with offices in Atlanta, New York City, Bangalore, Hong Kong and London. For more information visit www.TradeStoneSoftware.com.