IHS and Xtivity Introduce New Product for MRO Inventory Optimization
New Product Adds Inventory Optimization Capabilities to IHS Intermat Solutions Suite
Englewood, Colorado, and London, Ontario (November 5, 2007) — IHS Inc. (NYSE: IHS), a leading global provider of critical technical information, decision support tools and strategic services, and Xtivity Inc., the leader in MRO optimization service solutions, today announced the launch of IHS MRO Inventory Optimizer powered by xIO™ -- a new IHS product based on Xtivity’s xIO™ technology that will enable users to optimize their inventory for maintenance, repair and operations (MRO) items and reduce costs.
This new product strengthens and expands the IHS Intermat Solutions suite, which also offers content, software and services to create standardized and enriched descriptions for MRO items such as pipes, valves, bearings, associated plant equipment and general supply items. IHS MRO Inventory Optimizer powered by xIO™ is designed specifically for customers in asset-intensive industries (such as oil & gas, food & beverage, chemical, pharmaceuticals, industrial, power generation, and pulp & paper) that often carry tens of thousands of items worth millions of dollars to maintain their plants and facilities. The xIO service optimizes MRO inventory investment resulting in improved plant capacity and cash flow, by dynamically adjusting order points, order quantities (also known as min-max quantities) and lead times.
“MRO inventory optimization extends the value stream for our clients,” said Bert Turner, vice president of IHS Intermat. “Our customers now have 100% confidence that they are buying the right parts, at the right time, and in the right quantities. The xIO technology is unparalleled in the specialized field of MRO inventory optimization.”
Now IHS customers can improve their plant capacity while simultaneously reducing costs. The IHS MRO Inventory Optimizer considers key control parameters for each and every item – including criticality, demand, price, variability, seasonality and more. It is the only industry and commercially proven, web-based solution expressly designed for use with MRO inventories.
“xIO’s inventory optimization capabilities are the perfect addition to IHS Intermat Solutions,” said John Cowan, President of Xtivity. “Our combined offering allows the customer to improve operations through complementary SCM strategies. Optimized data and ordering mechanics are the foundation of all sustainable SCM improvements.”
For more information on IHS MRO Inventory Optimizer powered by xIO™, visit the product page on the IHS website.
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About IHS (www.ihs.com)
IHS (NYSE: IHS) is a leading provider of critical technical information, decision-support tools and strategic services to customers around the world. Our data and services are used in a wide range of industries, including energy, aerospace and defense, construction, electronics, and automotive. IHS translates the value of our global information, expertise and knowledge to enable customer success and create customer delight on a daily basis. Ranging from governments and large multinational corporations to smaller companies and technical professionals in more than 180 countries, customers rely on our offerings to facilitate decision making, support key processes and improve productivity. IHS has been in business for nearly 50 years and employs more than 3,000 people in 35 locations around the world.
About Xtivity Inc. (www.xtivity.com)
Xtivity Inc. improves productivity, reduces maintenance inventory value and provides accurate lead time information through its proven xIO Optimization Service. Xtivity’s unique service identifies, quantifies, reports, optimizes and audits inventory operations activity – offering immediate payback with little disruption to your organization.
IHS is a registered trademark of IHS Inc. xIO is a registered trademark of Xtivity Inc. Copyright © 2007 IHS Inc. and Xtivity Inc. All rights reserved.