Retalix (Nasdaq:RTLX; TASE:RTLX) StoreNext Israel announced today that Super-Sol has chosen to manage its trading processes with its suppliers through IREX (Israeli Retalix Exchange) -- a collaborative electronic B2B exchange.
IREX is a web-based application suite, which streamlines trading processes between the chain and its suppliers, reduces operational costs of the trading partners and increases supply chain efficiencies. IREX is operated by StoreNext Israel, which is owned by Retalix, CBC (Coca-Cola Israel), IsraCard and DIC (Discount Investment Corporation).
IREX was developed by Retalix at a cost of approximately $5 million, and is operated by StoreNext Israel.
Following the successful project pilot, Super-Sol decided to deploy IREX as its platform for trading and sharing information with its suppliers. Among the Israeli suppliers and manufacturers that have already joined IREX are Strauss-Elite Foods, Osem-Nestle, Unilever Israel, CBC (Coca-Cola Israel), Hogla-Kimberley and Netto. Many additional suppliers are expected to join during 2005. Retalix stated that later on, other retail chains will join, forming a single electronic retail exchange for the Israeli retail industry.
Super-Sol's category managers and suppliers use IREX to update product information, manage store varieties, set up and execute price changes and promotions -- all this via collaborative, structured electronic workflows. In addition, through IREX, suppliers receive updated sales and inventory information regarding their products in the Super-Sol stores.
Super-Sol CEO Effi Rosenheus said, "Supersol has been the pioneer of implementing EDI messaging between suppliers and retail chains in Israel, and we are proud to lead the way in implementing retailer-supplier electronic trading. After several months of working with IREX, we are convinced that this solution provides us and the suppliers with the necessary tools for conducting trade in the 21st century."
Strauss-Elite CEO Giora Bar-Dea said, "The cooperation between us and Supersol has improved significantly since we started streamlining our trade processes through IREX. Additionally, by receiving online information about the movement of our products in the stores, we are able to react faster to the trends and increase our sales."
Barry Shaked, Retalix CEO and Chairman of StoreNext Israel, said, "Super-Sol's success with the IREX project has created interest among other Retalix customers around the world."
Published by Globes [online], Israel business news - www.globes.co.il - on Sunday, January 23, 2005