Wegmans Food Markets Standardizes Asset, Maintenance and Procurement
Operations with Datastream 7i
Datastream 7i Asset Performance Management Solution Centralizes Asset and Maintenance Information and Provides a Company-Wide Procurement Standard
GREENVILLE, S.C., NOV 8, 2005—Datastream Systems, Inc. today announced that Wegmans Food Markets, Inc. is utilizing the Datastream 7i™ Asset Performance Management solution and the Datastream 7i Buy™ procurement module as its enterprise-wide standard platform for asset, maintenance and procurement operations. By centralizing and integrating asset, maintenance and procurement data into a single Web-based solution, Wegmans can gain insight into operations across the entire enterprise and achieve greater control over purchasing and maintenance behavior.
Wegmans is a 68-store supermarket chain with 15 home improvement centers and 11 manufacturing distribution centers across the Northeast. The company is using Datastream 7i to integrate asset and maintenance data with purchasing information from Datastream 7i Buy. Datastream 7i Buy is an online procurement module that allows companies to streamline purchasing, better manage their purchasing and inventory, and gain direct access to industry-leading suppliers.
Wegmans is using the Datastream 7i Buy procurement solution to automate the process of procuring parts and services such as refrigerant, production equipment and contract labor. Because the data is tied to the core Datastream 7i platform, procurement can be planned to match scheduled maintenance activities to ensure that a precise amount of inventory is on hand to support operations. Managers can check the status of orders in real-time to determine what has already been ordered, what is on back order and when items are scheduled to ship, enabling Wegmans to understand where expenses are allocated and what is in the pipeline. In addition, Datastream 7i Buy gives Wegmans visibility into the purchasing behavior across its locations, allowing the company to maximize its purchasing power with individual suppliers by negotiating volume discounts.
“Wegmans is in a highly-competitive market where margins are thin. It is crucial that assets and production function at optimal levels without incurring unnecessary costs and downtime,” said Larry Blackwell, CEO of Datastream. “By connecting asset, maintenance and procurement data with Datastream 7i and Datastream 7i Buy, Wegmans is reducing transaction and inventory costs and enforcing desired purchasing behavior.”
By utilizing Datastream 7i Buy, Wegmans can dramatically reduce the number of suppliers, increase buying power, manage its inventory as a single virtual pool and give each location visibility into the total pool of inventory. These capabilities lead to reductions in duplicate inventory and the associated paperwork and costs. In addition, managers can refer to a standard catalog, and items are purchased through a single system allowing Wegmans to negotiate the best prices from vendors of choice.
About Wegmans Food Markets, Inc.
Wegmans Food Markets, Inc. is a 68-store supermarket chain with stores in New York, Pennsylvania, New Jersey and Virginia. The family-owned company, founded in 1916, is recognized as an industry leader and innovator. Wegmans has been named one of the 'Top 100 Companies to Work For' by Fortune Magazine for the last several years. In 2005, Wegmans ranked #1 on the list.
About Datastream Systems, Inc.
Datastream Systems, Inc. provides Asset Performance Management software and services to enterprises worldwide, including more than 60 percent of the Fortune 500. Datastream’s solutions combine world-class asset management functionality with advanced analytics to deliver a powerful platform for optimizing enterprise asset performance.
By using Datastream’s solutions, customers can maintain and manage capital assets – such as manufacturing equipment, vehicle fleets and buildings – and create analyses and forecasts so they can take action to improve future performance. Datastream’s flagship product, Datastream 7i#, delivers a complete Asset Performance Management infrastructure by combining an Internet, web services architecture with broad enterprise asset management functionality, integrated procurement, advanced analytics and multi-site capability.
Datastream was founded in 1986 and has customers in more than 140 countries. For more information, visit www.datastream.net.
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Datastream and Datastream 7i are marks of Datastream Systems, Inc. ("Datastream" or the "Company"). All other products or Company names mentioned are used for identification purposes only and may be trademarks of their respective owners.
Statements in this release contain forward looking statements that involve uncertainties and risks. Factors that could cause actual results to differ materially include, but are not limited to the risk factors described in detail in our Annual Report on Form 10-K/A for the fiscal year ended December 31, 2003 and our quarterly report on Form 10-Q for the quarter ending September 30, 2004. All statements made in this press release are made only as of the date set forth at the beginning of this release. Datastream does not have, and expressly disclaims, any obligation to release publicly any updates or any changes in the Company’s expectations or any changes in events, conditions or circumstances on which any forward-looking statement is based.