Logistics.com Signs The TJX Companies Inc. for Transportation Procurement Engagement
Logistics.com Inc., the leader in transportation procurement and management technology building the industry's first standards-based logistics network, today announced The TJX Companies Inc. (NYSE: TJX - news), the leading off-price retailer of apparel and home fashions worldwide, has selected Logistics.com for strategic transportation procurement.
The Fortune 200 company will deploy Logistics.com's proven OptiBid Network solution to procure truckload transportation for inbound delivery of merchandise that it will deliver to its over 1,300 T.J. Maxx, Marshalls, HomeGoods and A.J. Wright stores across the United States.
OptiBid Network is a systematic approach to developing an optimal transportation strategy, implementing that strategy by securing transportation service contracts, and managing those contracts on an ongoing basis. Using leading-edge optimization tools, OptiBid Network considers all critical business factors, including freight variability, network flows and carrier rates and service levels, and recommends an optimal strategic transportation plan. Over three dozen Fortune 500 shippers and third party logistics providers have used OptiBid Network to enable the procurement of over $6 billion of annual recurring freight services, achieving over $400 million in savings. TJX joins other leading retailers using OptiBid, including Wal-Mart and The Limited.
``Cost control is key to TJX's ability to offer excellent values to its customers. Since transportation and logistics account for approximately 10% of the final product cost in any industry, OptiBid offers TJX another means through which it can control costs,'' said Todd Kolber, vice president sales, retail and distribution for Logistics.com. ``Logistics.com's extensive experience in delivering high-value transportation procurement solutions continues to provide the world's largest retailers with unmatched control over their transportation operations.''
About Logistics.com
Based in Burlington, Mass., Logistics.com empowers shippers and carriers to buy, sell, manage and optimize transportation services over land, air and ocean. The company's three offerings include OptiBid, a strategic procurement solution for shippers; OptiManage, a comprehensive transportation management solution for shippers; and OptiYield, a management, analysis and procurement solution for carriers. The company has received funding, strategic guidance and operational support from Internet Capital Group (Nasdaq: ICGE - news). Logistics.com was recently named to the Forbes ``Best of the Web: B2B'' and the InternetWeek 100 for the second consecutive year, and has also been honored in the Computerworld Top 100 Emerging Companies, the Inter@ctive Week 500 and the Supply Chain e-Business 100. For further information, visit the company website at www.logistics.com .
About TJX
The TJX Companies Inc. is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates 661 T.J. Maxx stores, 556 Marshalls, 99 HomeGoods and 31 A.J. Wright stores in the United States. In Canada, the Company operates 123 Winners and 6 HomeSense stores, and in Europe, 83 T.K. Maxx stores. TJX's press releases and financial information are also available on the Internet at www.tjx.com .
SOURCE: Logistics.com Inc.