Published:
DemandTec Awards Scholarships to Winners of Third Annual Retail Challenge
SAN CARLOS, Calif., Nov. 21 /PRNewswire-FirstCall/ -- DemandTec, Inc.
(Nasdaq: DMAN), a leading provider of on-demand optimization solutions for
retailers and consumer products manufacturers, has announced the winners of
the DemandTec third annual Retail Challenge. Each student winner will be
awarded a scholarship for the 2009-10 school year to the college or university
of their choice. The judges named the winning teams of Ellie Weyant and
Miranda Bruno from Kiski Area High School inLeechburg, PA, Bron Malcolm and
David Lurvey from Patrick Henry High School inMinneapolis, and Karen
Ladenheim and Colin Vasick from Mountain View High School inMountain View, CA,
during an awards ceremony held yesterday afternoon at DemandTec's headquarters.
The event was attended by students, school faculty, parents, Safeway
representatives, and DemandTec employees.
"Math is one of the critical points of competitive advantage for our
company and our industry for the foreseeable future, so it is in all our best
interest to make sure our students continue to develop their interest in math
any way we can. Contests like the Retail Challenge help make learning about
the practical applications of math fun and rewarding," said Dan Fishback,
president and chief executive officer of DemandTec.
The 2008 Retail Challenge is a software-based business simulation,
spanning a two-week period, with each day representing a week in real life.
Contestants were provided with 20 weeks of retail sales data to analyze in
order to make pricing and inventory decisions for the subsequent 12 weeks. The
goal was to make as much profit as possible by the end of the challenge.
Finalists gave presentations detailing their analysis and the insights that
they obtained from the data.
"The Retail Challenge not only helps prepare high school students for
college and beyond by illustrating how math impacts everyday decisions in the
business world, but also gives them the opportunity to interact with potential
role models or mentors in an analytical field," explained Suzanne Valentine,
vice president of science & analytics at DemandTec and executive sponsor of
the contest.
DemandTec employees are provided as mentors to support and assist the
students as they worked to solve the problem. Judging was based on each team's
understanding of the problem, the accuracy of their forecasts, their ability
to articulate how they achieved their results and the collaboration and
teamwork they demonstrated in presenting their findings.
The 2008 Retail Challenge was co-sponsored by DemandTec customers Safeway,
Target and Giant Eagle as part of a community outreach program designed to
foster awareness of the practical applications of math in a business
environment.
"Safeway is proud to once again join DemandTec in sponsoring the 2008
Retail Challenge. Our company believes it is extremely important to encourage
our children to explore the role math plays in their everyday life and to do
it in a fun way, so they take a lifelong interest in learning. The Retail
Challenge allows us to help with that process," said Espe Greenwood, director
of public affairs and government relations for Safeway's Northern California
Division.
The Retail Challenge is a flagship component of DemandTec's Corporate
Citizenship program, which strives to integrate social responsibility into all
business practices and engages a cross-functional and geographically diverse
set of employees to identify specific initiatives where DemandTec employees
can play a unique role, particularly in the areas of math and science
education as well as youth development. More than $50,000 in scholarship money
has been awarded since the inception of the Retail Challenge in 2005.
About Giant Eagle, Inc.
Giant Eagle Inc., ranked 33 onForbes magazine's largest private
corporations list and recipient of Grocery Headquarters' 2007 Retailer of the
Year Award and the EPA's ENERGY STAR Retail Partner of the Year Award, is one
of the nation's largest food retailers and food distributors with
approximately $8 billion in annual sales. Founded in 1931, Giant Eagle, Inc.
has grown to be the number one supermarket retailer in the region with 159
corporate and 61 independently owned and operated supermarkets in addition to
150 fuel and convenience stores throughout westernPennsylvania,Ohio, north
centralWest Virginia andMaryland.
About Safeway
Safeway Inc. is a Fortune 100 company and one of the largest food and drug
retailers inNorth America based on sales. The company operates 1,738 stores
inthe United States andCanada. The company's common stock is traded on the
New York Stock Exchange under the symbol SWY.
About Target
Minneapolis-based Target serves guests at 1,684 stores in 48 states
nationwide by delivering today's best retail trends at affordable prices.
Target is committed to providing guests with great design through innovative
products, in-store experiences and community partnerships. Whether visiting a
Target store or shopping online at Target.com, guests enjoy a fun and
convenient shopping experience with access to thousands of unique and highly
differentiated items. Target (NYSE: TGT) gives more than $3 million a week to
its local communities through grants and special programs. Since opening its
first store in 1962, Target has partnered with nonprofit organizations, guests
and team members to help meet community needs.
About DemandTec
DemandTec (NASDAQ: DMAN) enables retailers and consumer products companies
to optimize merchandising and marketing decisions, individually or
collaboratively, to achieve their sales volume, revenue, and profitability
objectives. DemandTec software services utilize DemandTec's science-based
software platform to model and understand consumer behavior. DemandTec
customers include more than 140 leading retail and consumer products
manufacturers such as Advance Auto Parts, Best Buy, Circle K Stores, ConAgra
Foods, Delhaize America, Dr Pepper Snapple Group, General Mills, Giant-
Carlisle, H-E-B Grocery Co., Hormel Foods, Monoprix, Safeway and Sara Lee.
Connected via the DemandTec TradePoint Network(TM), DemandTec customers have
collaborated online on more than 1.8 million trade deals. For more information,
please visit http://www.demandtec.com.
DemandTec Safe Harbor
This press release contains forward-looking statements regarding
DemandTec's expectations, hopes, plans, intentions or strategies. These
forward-looking statements involve risks and uncertainties, as well as
assumptions that, if they do not fully materialize or prove incorrect, could
cause our results to differ materially from those expressed or implied by such
forward-looking statements. The risks and uncertainties include those
described in DemandTec's documents filed with or furnished to the Securities
and Exchange Commission. All forward-looking statements in this press release
are based on information available to DemandTec as of the date hereof, and
DemandTec assumes no obligation to update these forward-looking statements.
Media Contact:
Cassandra Moren, DemandTec, Inc.
(650) 226-4690
cassandra.moren@demandtec.com
DemandTec Investor Contact:
Tim Shanahan, DemandTec, Inc.
(650) 226-4603
tim.shanahan@demandtec.com
DemandTec and the DemandTec logo are registered trademarks of DemandTec,
Inc. All other trademarks are the property of their respective owners.
SOURCE DemandTec, Inc.
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