ALEXANDRIA, Va. (March 25, 2002) - The WorldWide Retail Exchange
(WWRE), the premier business-to-business exchange for retailers
and suppliers, today announced that Wyeth Consumer Healthcare,
a Madison, NJ-based manufacturer of leading consumer health products,
has joined the Exchange. Wyeth Consumer Healthcare is a division
of Wyeth (NYSE:WYE).
"WWRE® membership puts us alongside our trading partners
in a way that raises the opportunities to collaborate and share
benefits to a whole new level," said Bob Wigmore, vice president,
supply chain logistics for Wyeth Consumer Healthcare. "Of
particular importance, the WWRE demonstrated the knowledge, practical
expertise and the means to make VICS-CPFR®* a scalable proposition
today."
"As our 60th member, Wyeth Consumer Healthcare will contribute
significantly towards the Exchange's long-standing goal of providing
a neutral e-marketplace where both sides of the retail industry
can benefit from mutual best practices, shared learnings and improved
results," said Colin Dyer, chief executive officer of the
WWRE. "Our members are realizing tremendous time and cost
savings through Exchange membership and the adoption of WWRE®
solutions. We are eager to extend these savings opportunities
to Wyeth Consumer Healthcare."
Gavin Jeffs, Wyeth Consumer Healthcare's assistant vice president,
logistics/e-business commented, "we look forward to bringing
a new perspective to the Exchange as well as learning from the
experiences of the other 59 members. We took some time to evaluate
the exchange marketplace and chose the WWRE because they bring,
by far, the most expertise and a pragmatic approach to implementation
and adoption of e-business initiatives."
In addition to the WWRE® Collaborative Planner, Wyeth Consumer
Healthcare plans to synchronize and standardize its product and
item data with its customers directly through the WWRE's Worldwide
Item Management solution. The WWRE® Collaborative Planner
enables CPFR®.
Wigmore added that "Wyeth Consumer Healthcare's decision
to enter into this agreement was led by our shared commitment
to drive industry standards, create a long-term solution to supply
chain inefficiencies and deliver value to the end-consumer."
As a WWRE member, Wyeth Consumer Healthcare will have immediate
access to the Exchange's solution offerings, through which fellow
WWRE members have collectively saved approximately $390 million
on a transaction volume of over $2 billion. Savings per member
currently average $4.5 million. The WWRE continues to expand its
solution offerings, add functionality to existing solutions and
further strengthen its value to members.
About Wyeth Consumer Healthcare
Wyeth Consumer Healthcare, a division of Wyeth, is one of the
world's leaders in the development, manufacture and marketing
of non-prescription medicines, vitamins and nutritional products
including such established brands as Advil®, Centrum®,
Chap Stick®, Dimetapp® and Robitussin®.
Wyeth (NYSE:WYE) is one of the world's largest research-driven
pharmaceutical
and health care products companies. It is a leader in the discovery,
development,
manufacturing, and marketing of pharmaceuticals, vaccines, biotechnology
products and non-prescription medicines that improve the quality
of life for people worldwide. The Company's major divisions include
Wyeth Pharmaceuticals, Wyeth Consumer Healthcare and Fort Dodge
Animal Health.
About the WWRE®
The WWRE® is the premier Internet-based business-to-business
exchange in the retail e-marketplace. The Exchange was created
with the fundamental purpose of reducing costs and improving efficiencies
throughout the supply chain, employing product and service solutions
typical of a global procurement and supply operation. Designed
to facilitate and simplify trading between retailers, suppliers,
partners and distributors, the WWRE® currently consists of
59 retail members from Africa, Asia, Europe, North America and
South America with combined sales of over U.S. $845 billion. To
date, the WWRE® has saved its members over $270 million through
the use of online negotiations, its first product offering. For
more information, visit the website at www.wwre.org
or www.worldwideretailexchange.org
WWRE® is a registered trademark of the WorldWide Retail Exchange.
Surplus Goods Exchange(TM) is a trademark of the Visagent Corporation
WorldWide Retail Exchange, LLC. All rights reserved.