FMI and Corcentric Unite to Provide an eCommerce Solution to Members

Washington, D.C., October 15, 2004 — The Food Marketing Institute (FMI) announced today it has joined forces with Corcentric, an eCommerce provider under the FoodFleetXchange program.

The addition of Corcentric gives FMI’s retail and wholesale member companies a unique opportunity to automate their purchasing, fulfillment, and invoice management processes associated with transportation-related equipment, reducing these costs by as much as 70 percent.   Using the Optimal eFlow system, Corcentric customers are able to experience real-time identification, analysis, and execution of transactions. Key benefits include:

• Elimination of manual orders and invoices


• Supplier-friendly implementation process


• Accounting system integration


• Web browser access 24/7 to history, tracking, invoice approval, and status


• Dynamic reporting and forecasting


• Instant access data warehouse


• Data conversion from current format to any other format (EDI, XML, etc.)


• Web site that allows configuration based on user and company rules

Through Corcentric, FMI members can enhance a grocery distribution system which will enable them to operate in the most efficient and competitive manner and at the same time is sensitive to social, economic, and governmental concerns.

“The alliance between FMI and Corcentric further demonstrates FMI’s perpetual commitment to providing its members with a host of resources that will enable their businesses to operate in the most efficient and competitive manner possible,” stated Pat Davis, FMI Director of Strategic Initiatives. “The cumulative savings afforded by this program can be enormous.”

“We are extremely excited about our alliance with FMI and providing the many resources available through our Corcentric Optimal eFlow System for FMI’s members which will drive tremendous costs out of their business,” stated Dave Lindeen, Vice President of Sales. “The members can take advantage of Corcentric immediately because there is no change necessary to FMI members’ existing business systems or processes they have in place today.”