FOR IMMEDIATE RELEASE
CombineNet Announces Software License and Service Agreement with Procter & Gamble
CINCINNATI, OH —November 7, 2002
CombineNet announced today that it has signed a software license and service agreement
with Cincinnati- based Procter & Gamble (P&G). Although the specific terms
and conditions of the transaction have not been disclosed, both parties offered
that the deal involves a number of events over an extended term. CombineNet will
provide P&G access to its flagship combinatorial optimization product, ClearBox™,
as well as consulting services for the company's global sourcing of direct and indirect
materials and transportation, with possible applications across its supply chain
on planning and sourcing problems.
We are looking forward to a productive relationship with CombineNet," says
Carol Rubeo, Director of Purchases Innovation. "At P&G, a number of people
have evaluated this technology and we believe it will be very effective when applied
against solving complex problems."
World-class organizations like P&G are looking to gain a strategic competitive
advantage using combinatorial optimization technologies to improve the speed and
quality of their sourcing decisions," says Tony Bonidy, CEO of CombineNet.
"The problems large corporations encountersuch as determining the right allocation
of business to suppliers in a reverse auction where bidders are allowed to bid expressivelymake
it impossible to obtain an optimal solution by sifting through all of the potential
solutions. Our decision-making technology enables corporations like P&G to solve
real-world problems in seconds."
AMR Research stated in a recent Alert on November, 5, 2002 entitled, "CombineNet
is Taking Sourcing Optimizationand Cost Savingsto New Highs," that:
CombineNet customers report impressive results. One customer had a previously unsolvable
problem on a supercomputer that got solved in under a minute using ClearBox. Another
client used the product to re-bid all its transportation modes and conservatively
save 15%-20% on transportation costs. The product is also being applied in many
other domain areas such as production planning/scheduling and derivatives trading."
About Procter & Gamble:
P&G is celebrating 165 years of providing trusted quality brands that make every
day better for the world's consumers. We market nearly 300 brands - including Pampers®,
Tide®, Ariel®, Always®, Whisper®,
Pantene®, Bounty®, Pringles®, Folgers®,
Charmin®, Downy®, Lenor®, Iams®,
Crest®, Actonel®, Olay® and Clairol
Nice `n Easy® in more than 160 countries around the world. The P&G
community consists of nearly 102,000 employees working in almost 80 countries worldwide.
Please visit www.pg.com for the
latest news and in-depth information about P&G and its brands.
About CombineNet
CombineNet, the advanced sourcing technology company, helps companies achieve the absolute best value and lowest total cost of ownership for goods and services. CombineNet's Advanced Sourcing Application Platform enables companies to engage in Expressive Commerce™, the strategic sourcing initiative that allows buyers and sellers to communicate supply and demand more expressively, collaboratively and strategically. The result is a win-win for both buyer and supplier, where greater innovation and efficiency are driven into the supply chain. CombineNet's ASAP consistently produces 10, 15, even 20 percent greater actual cost savings than other e-sourcing solutions, and has delivered more than 45x ROI for the largest businesses in the world including General Mills, PepsiCo, Procter & Gamble, Siemens and others. For more information, visit www.combinenet.com.
Media Contacts:
Greg Holt
CombineNet Inc.
Director of Marketing
Phone: 412.471.8200
gholt@combinenet.com