FOR IMMEDIATE RELEASE
CombineNet Announces Agreement With Linens 'n Things, Inc.
PITTSBURGH, PA—August 12, 2003
CombineNet (www.combinenet.com) announces
that it has signed a software license and service agreement with Linens `n Things,
Inc., (NYSE:LIN) a leading national large format retailer of home textiles, housewares,
and home accessories. Linens `n Things will apply CombineNet's Decision-Guidance
Systems™ in a number of strategic sourcing events within its transportation
spend.
With the opening of a new distribution center on the West Coast, Linen `n Things'
transportation group needed to source new carriers for Truckload and Less Than Truckload
(LTL) events. The company chose CombineNet based on its patented combinatorial optimization
technology, which powers its Decision-Guidance Systems.
Prior to CombineNet, we used manual methods to conduct our bidding, which required
3-6 weeks of work per event, not including the data preparation," said Bob
Endemann, executive director of transportation. "Because this process became
too cumbersome, we searched for a partner who could provide a robust, automated
solution. CombineNet's combinatorial optimization technology clearly set it apart
from competitive alternatives."
Linens 'n Things' transportation group utilized CombineNet's Decision-Guidance Systems
to develop a strategic sourcing event for regional and national carriers. The team
opened the bid to carriers with which it already had a relationship and to new carriers
(comprising 70 percent and 30 percent of the total bid, respectively). The company
structured the bid in three rounds to accommodate price and non-price criteria,
including rates, routes, run schedules, delivery volumes, and locations. Within
just two weeks, Linens `n Things had the data it needed to make a final carrier
selection.
CombineNet has already delivered unprecedented results in one sourcing event alone,"
said Endemann. "We cut our time in half by quickly zeroing in on the best possible
solution. This was definitely a `click-and-play' scenario and we look forward to
applying the technology to future transportation events."
Linens 'n Things is another example of a national retailer using CombineNet's Decision-Guidance
Systems to drive costs out of the supply chain," said Tony Bonidy, CombineNet
chief executive. "The company had spent considerable time trying to streamline
its sourcing process and turned to CombineNet for one of its toughest transportation
problems. Our Decision-Guidance Systems enabled the transportation group to identify,
justify, and present the best possible solution, while allowing them to apply their
business rules."
About Linens 'n Things
Linens 'n Things, with 2002 sales exceeding $2.18 billion, is one of the leading,
national large format retailers of home textiles, housewares and home accessories.
As of April 5, 2003, the Company was operating 400 stores in 45 states and in four
provinces across Canada. More information about Linens `n Things can be found online
at www.lnt.com.
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