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NATIONWIDE DSN REPORT-Twelve of the world's largest retailers have joined forces to establish the Worldwide Retail Exchange, one of the newest entries in the rapidly expanding arena of business-to-business on-line exchanges. But these aren't just any 12 retailers. The founding members of this international consortium include some of the most powerful names in retail-as well as several companies traditionally viewed as arch rivals, not least of which are Kmart and Target. That these chains would team together in an international venture of such awesome proportions proves how powerful the lure of cost savings and simplified trading over the Internet can be in reshaping the way retailers and vendors do business.
The Worldwide Retail Exchange will facilitate secure Web-based trading between retailers and more than 100,000 suppliers, partners and distributors. It will also provide a forum for sharing information and a means of participating in product auctions. In addition to Kmart and Target, the group's founding members include Albertson's, Safeway, Walgreens, and CVS in the United States and Auchan, Casino, Kingfisher, Marks & Spencer, Royal Ahold, and Tesco in Europe. More retailers are expected to join the network, which should begin operating mid-year. The founding companies will invest $100...