LG Mart Teams With Accenture and Retek to Support Rapid Growth
Korean Retailer Chooses Integrated Retail Infrastructure to Support Supermarket, Convenience and Department Store Businesses
SEOUL; April 14, 2004 – LG Mart has selected Accenture and Retek Inc. to provide the technology infrastructure to support the retailer’s growing operations.
With more than 1,600 convenience, supermarket, hypermarket and department stores across Korea, LG Mart requires an integrated system that can support multiple retail formats. Accenture will lead the implementation of the Retek Merchandising System™, Retek Price Management™ and Retek Store Inventory Management™ solutions across LG Mart’s operations. These solutions will help LG Mart more effectively create, fulfill and manage customer demand.
“LG Mart selected Accenture because of its strong retail capabilities and implementation experience, and chose Retek’s software because of its depth of grocery functionality and speed-to-benefit,” said Young-Chul Wang, CIO of LG Mart. “We believe this is the best approach to support our continuing growth.”
Retek Merchandising System records and controls virtually all data in a retail enterprise and provides data integrity across integrated systems. The solution includes foundation and item management, purchasing, costing, price execution, inventory management and replenishment functions, helping users improve merchandising activities and better achieve sales and profit targets. Retek Price Management provides a well-defined and efficient price change process that allows for aggregated permanent and clearance price change execution. Retek Store Inventory Management provides real-time data communications between stores and the corporate office, including store level activities such as item look-up, stock counts and transfers.
“Now that LG Mart, one of Korea’s largest retailers, has selected Retek to provide the retail infrastructure for their organization, they will have the functionality and performance they need in the challenging world of global retail,” says Bob Stratton, a Tokyo-based associate partner with Accenture who leads the company’s Retek initiatives in Asia.
“Leaders in the retail industry are increasingly turning to technology to confront their most difficult challenges, remain competitive and use advanced scientific approaches to help make a variety of business decisions,” said Neville Roberts, partner, Accenture. “LG Mart understands that Retek’s retail infrastructure solution should provide LG Mart with the functionality and performance it needs to lead in the challenging world of global retail.”
Accenture is a global management consulting, technology services and outsourcing company. Committed to delivering innovation, Accenture collaborates with its clients to help them become high-performance businesses and governments. With deep industry and business process expertise, broad global resources and a proven track record, Accenture can mobilize the right people, skills, and technologies to help clients improve their performance. With approximately 90,000 people in 48 countries, the company generated net revenues of US$11.8 billion for the fiscal year ended Aug. 31, 2003. Its home page is www.accenture.com.
About LG Mart
Since its founding in 1971, LG Mart has played a leading role in modernizing Korea’s retail industry. Anticipating changing consumer and community needs, the company has continuously pursued innovation and development in its quest to build the international competitiveness and advanced systems that will make it a truly integrated retailer. Its home page is www.lgmart.co.kr.
Retek Inc. (Nasdaq:RETK) is the leading provider of mission-critical software and services to the retail industry. Retek solutions integrate collaborative software with patented predictive technologies, consulting services, and the best practices of customers and partners to help retailers create, manage and fulfill consumer demand. Leading global retailers including Tesco, Best Buy, Gap Inc., Sainsbury’s, Eckerd Corp. and Selfridges use Retek solutions. Visit Retek on the Web at www.retek.com.