Company recognized for warehouse technology innovation in support of
retail clients
WASHINGTON--(BUSINESS WIRE)--Sep. 10, 2013--
Liquidity Services, Inc. (NASDAQ:LQDT), the leader in the surplus goods
marketplace, today announced that it made this year’s InformationWeek
500 – a list of the top technology innovators in the U.S. – for its
innovative use of business technology in the reverse supply chain. The
full list can be found at www.informationweek.com/500.
Liquidity Services was listed in the retail and e-commerce industry
category for its innovative use of technology to resolve the challenge
of cataloging items delivered to its warehouses across the U.S. These
items consist of various product SKUs originating from returned and
overstock inventory from retailers who utilize different ERP systems.
“In an industry where many have shunned IT innovation over the years, we
have embraced it,” said Leo Casusol, CIO of Liquidity Services. “By
revolutionizing the way surplus consumer products are categorized
through technology applications, our product data is now compatible with
software typically designed only for the forward supply chain, improving
warehouse productivity and controlling labor costs. This efficiency has
also led to cross-site listing, providing our global base of buyers with
visibility to items on multiple online marketplaces; increasing recovery
value for our large, retail clients. With the benefit of our seamless
back-end process for returned and overstock inventory, retailers are
able to focus on their core mission – serving customers and selling
products.”
The IT team at Liquidity Services developed a proprietary system to map
all product SKUs to one unique product category and corresponding SKU in
the system, called LPID (Liquidity Services Product Identification
Database).
"The theme of this year's InformationWeek 500 is digital business. It's
a movement, rooted in data analytics, mobile computing, social
networking and other customer‐focused technologies that are turning
companies and industries on their ear," said InformationWeek Editor In
Chief Rob Preston. "Every enterprise is now a digital business—or needs
to become one fast. The organizations in our ranking are leading the
way."
InformationWeek identifies and honors the nation's most innovative users
of information technology with its annual InformationWeek 500 listing,
and also tracks the technology, strategies, investments, and
administrative practices of some of the best‐known organizations in the
country. Past overall winners include Beth Israel Deaconess Medical
Center, PACCAR Inc., The Vanguard Group, CME Group, National
Semiconductor, Con‐Way, and Principal Financial Group. Unique among
corporate rankings, the InformationWeek 500 spotlights the power of
innovation in information technology.
About Liquidity Services, Inc.
Liquidity Services, Inc. (NASDAQ: LQDT) provides leading corporations,
public sector agencies, and buying customers the world's most
transparent, innovative, and effective online marketplaces and
integrated services for surplus assets. On behalf of its clients,
Liquidity Services has completed the sale of over $4.0 billion of
surplus, returned, and end-of-life assets in over 500 product
categories, including consumer goods, capital assets, and industrial
equipment. The company is based in Washington, D.C. and has
approximately 1,400 employees. Additional information can be found at: http://www.liquidityservicesinc.com.
About Information Week
For more than 30 years, InformationWeek has provided millions of IT
executives worldwide with the insight and perspective they need to
leverage the business value of technology. InformationWeek provides CIOs
and IT executives with commentary, analysis and research through its
thriving online community, digital issues, webcasts, proprietary
research and live, in‐person events. InformationWeek’s award‐winning
editorial coverage can be found at www.informationweek.com.
InformationWeek is produced by UBM Tech, a global media business that
brings together the world's technology industry through live events and
online properties. Other UBM Tech's brands include EE Times, Interop,
BlackHat, GameDeveloper Conference, CRN, and DesignCon. The company's
products include research, education, training, and data services that
accelerate decision making for technology buyers. UBM Tech also offers a
full range of marketing services based on its content and technology
market expertise, including custom events, content marketing solutions,
community development and demand generation programs. UBM Tech is a part
of UBM (UBM.L), a global provider of media and information services with
a market capitalization of more than $2.5 billion.
Source: Liquidity Services, Inc.
Liquidity Services, Inc.
Sultana F. Ali, APR, 202-467-5723
Sultana.Ali@liquidityservicesinc.com
