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Kmart Signs Agreement With GNX

SAN FRANCISCO - GlobalNetXchange (GNX), an e-business solution and service provider for the global retail industry, today announced that Kmart Holding Corp. has signed a new customer agreement.

To start, Kmart will use the GNX Negotiations solution to buy a wide variety of merchandise, goods, and services, with plans to evaluate supplier performance management initiatives with GNX in the near future.

"For Kmart to achieve its financial objectives, we absolutely must ensure that our buying and supply chain operations are as efficient and effective as possible," said Bruce Johnson, Kmart's s.v.p., supply chain and operations. "We look forward to evaluating how their collaborative supplier Performance Management tool could drive greater efficiencies for our supply chain. GNX's retail focus and the opportunity to leverage best practices from other leading retailers were key factors in Kmart's decision to work exclusively with them for exchange-enabled procurement and supply chain activities."

"Kmart is very experienced in auction procurement, and we are delighted they have chosen GNX to further scale their negotiations program, especially in goods for resale," said GNX c.e.o. Joe Laughlin.
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