Tag-It Pacific offers information on restructuring initiative
04 Nov '05
3 min read
-- Initiated the process of subleasing its non-essential office space. -- Successfully deployed a new CRM system worldwide, providing improved customer service, as well as better prospecting and allowing greater insight and visibility into its sales funnel. -- Re-crafted the compensation plans for both the management and sales team, to be more incentive and performance based, as well as to be more directly aligned to regaining profitability and increasing shareholder value. -- Pursued joint venture opportunities with some of its manufacturing partners for the production of its formed-wire jean zipper in China. -- Begun to aggressively work to collect delinquent accounts and non-performing receivables. -- Commenced closer evaluation of unprofitable business and marginal customers.
"These changes, and those continue to make have not been easy, and continue to make very significant progress," added Forte. "As always, change is difficult and often painful, and I would like to take this opportunity to thank their current vendors, customers, shareholders and certainly our employees for all of their efforts, support and confidence during transition."
Tag-It specializes in the distribution of a full range of trim items to manufacturers of fashion apparel, specialty retailers and mass merchandiser. Tag-It acts as a full service outsourced trim management department for manufacturers of fashion apparel such as Kellwood and Azteca Production International.
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