Wegmans Selects Retek Forecasting and Replenishment Planning Solutions; Major Regional Supermarket Chain to Improve Customer Service and Inventory Performance

Business Wire, Jan 14, 2003

Business Editors/High-Tech Writers

MINNEAPOLIS--(BUSINESS WIRE)--Jan. 14, 2003

Retek Inc. (Nasdaq:RETK) announced today that Wegmans Food Markets, Inc. (Wegmans) has selected Retek(R) Demand Forecasting(TM) and Retek(R) Replenishment Planning(TM) solutions to improve supply chain efficiency and increase inventory performance. Wegmans, a 64-store supermarket chain in NY, PA and NJ, is one of the largest and most respected private companies in the U.S. with annual sales over $3 billion. The Retek solutions will enable Wegmans to improve the efficiency of its operations with more accurate and detailed forecasts that drive logistically efficient replenishment plans at the store and distribution center (DC) levels.

"Forecasting and replenishment processes have a significant impact on store operating performance and customer service," said Don Reeve, Senior Vice President and CIO of Wegmans. "We selected the Retek forecasting and replenishment planning solutions because they offer sophisticated predictive technology to enable detailed forecasting and replenishment processes based on actual store demand. Improvements derived from consumer demand, forecast and time-phased replenishment orders will allow Wegmans to improve inventory turns and continue our tradition of providing excellent customer service."

Wegmans will implement Retek Demand Forecasting, Retek Promote and Retek Replenishment Planning solutions. The highly scalable Retek Demand Forecasting solution, combined with the Retek Promote module, leverages advanced scientific technologies and promotional and causal factors to develop the most accurate consumer demand at levels as low as SKU/store/day. These forecasts are integrated with the Replenishment Planning solution to drive forward looking, time-phased order plans that are synchronized with all nodes in the supply chain for example: stores, warehouses and suppliers. Embedding advanced constraint based optimization and predictive technology in the solution delivers logistically efficient "optimal" order plans that are based on the most accurate prediction of consumer demand and real-world constraints such as: inventory, logistics and labor. These advanced solutions help retailers lower inventory levels, increase inventory availability and optimize asset utilization.

"We are delighted that Wegmans, a well-respected grocer known for innovation, has selected Retek solutions to improve the efficiency of its supply chain operations," said Duncan Angove, vice president of strategy and marketing at Retek. "Retek continues to build momentum in the grocery industry as many top grocers realize the value that Retek's innovative technology delivers."

About Wegmans Food Markets

Wegmans Food Markets, Inc. is a 64-store supermarket chain in New York, Pennsylvania and New Jersey. The family-owned company, founded in 1916, is recognized as an industry leader and innovator. Wegmans has recently been named to Fortune magazine's list of the 100 Best Companies to Work For in America for the sixth consecutive year, ranking 10th.

About Retek Inc.

Retek Inc. (Nasdaq:RETK) is the leading provider of mission-critical software and services to the retail industry. Retek 10 integrates collaborative software with patented predictive technologies, consulting services, and the best practices of customers and partners to help retailers create, manage and fulfill consumer demand. Leading global retailers including Tesco, Best Buy, Gap Inc., Sainsbury's, Eckerd Corp. and Selfridges use Retek solutions. On the net: Retek at http://www.retek.com.

Retek is a trademark of Retek Inc. Other names may be trademarks of their respective owners. Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Such factors are described from time to time in the company's Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission.