IHS SPECTRUM Excellence Awards Honor Industry Leaders for Achievement of Operational Excellence & Risk Management Business Go...
November 13 2014 - 8:00AM
Business Wire
New 2014 winners celebrated for outstanding use of information,
analytics and expertise
IHS Inc. (NYSE: IHS), a leading global source of critical
information and insight, today announced that seven companies have
received IHS SPECTRUM Excellence Awards for outstanding
achievements in operational excellence and risk management. This
prestigious industry award program spotlights organizations and
individuals around the world who make key decisions to achieve a
broad variety of business objectives through innovative use of
information, analytics and expertise. The new 2014 award winners
represent multiple market sectors that include agriculture,
chemicals, energy, forestry, healthcare and manufacturing.
“In today’s ultra-competitive marketplace, it is more important
than ever that industry leaders make well-informed decisions,” said
Scott Lockhart, senior vice president for operational excellence
and risk management at IHS. “From long-term strategies to daily
tactics, decision-makers must drive continuous improvement and
mitigate potential risks by leveraging the very best information
and analytics. IHS is proud to recognize this group of 2014 award
winners for their accomplishments and we look forward to continuing
our partnership with them.”
The new IHS SPECTRUM Excellence Award winners are being
recognized specifically for projects or programs that leveraged
best-in-class information and insights to achieve major results
related to operational excellence and risk management such as:
• Asset performance
• Environmental performance
• Product stewardship
• Risk assessment
• Safe operations
• Supply management
Winners were honored by hundreds of attendees during the IHS
SPECTRUM Excellence Award dinner held Tuesday, November 11 at the
Marriott Marquis Hotel in Washington, DC.
The new 2014 IHS SPECTRUM Excellence Award winners and their
accomplishments include:
ARAUCO – Latin America’s largest developer of forestry
products created a uniform materials master and sustainable
governance system for the entire inventory of 300,000-plus parts
used at its 70 plants. As a result, the company saved more than
$1.2 million through detection of duplicate parts, boosted
productivity with automatic translation into multiple languages,
reduced the time for creating new records from 40 days to four
days, and improved negotiations with suppliers to decrease purchase
costs.
Cardinal Health – This leading manufacturer of medical
supplies reduced its commodity costs by millions of dollars within
18 to 20 months. Providing enhanced price data and analysis to the
company’s 30-plus sourcing managers worldwide enabled them to
negotiate better rates – for example, pushing back on six commodity
cost increases in eight months with more accurate pricing data – in
order to achieve better margins while also improving workflows to
serve consumers more effectively.
Cargill – One of the world’s largest privately owned
food/agribusiness companies delivered millions of dollars in value
over four years through effective global sourcing. Its strategic
sourcing team used market intelligence to manage price volatility –
e.g., managing labor costs by securing local labor rates or
building a cost-driver-analysis model to provide a holistic market
view – and committed to save additional millions of dollars over
the next five years through further sourcing improvements.
Chevron – This global energy industry company showed
strong leadership in greenhouse gas (GHG) management and reporting
as part of its proven commitment to operational excellence. It
earned a spot on CDP’s S&P 500 Climate Disclosure Leadership
Index for five consecutive years – near the top of the 2013 index
and 9 points over its prior year rating – as well as reducing time
for submission of GHG data to US EPA through automated reporting
(e.g., from two weeks to one day for one group).
Cristal – As part of its growth strategy, this top global
producer of titanium chemicals implemented a best-in-class MRO
solution to manage 125,000-plus replacement parts worldwide and
boost productivity by accelerating searches for parts from minutes
to seconds. The global procurement team streamlined purchase
request workflows from weeks or months to only days or hours –
reducing costs by optimizing inventory, eliminating excess
purchases, and helping negotiators convince vendors to offer lower
rates.
Integra Group – One of Russia’s premier oilfield services
providers drove continuous improvement towards operational
excellence and performance goals with stronger QHSE information
management. Within three years, company employees had recorded more
than 3,500 incidents and implemented 10,000-plus action items in
order to improve standards, systems and processes as well as reduce
overall injury rates nearly 70 percent – from 2.3 percent to 0.7
percent injuries per million hours.
LANXESS – This leading specialty chemicals company moved
ahead of schedule to ensure compliance with tighter OSHA
regulations based on GHS standards – e.g., 60 percent of new SDSs
and labels were completed nine months ahead of deadline. The
company now manages 4,000 SDSs in the U.S., and a few thousand more
in Canada and Mexico – in 39 languages for destinations worldwide.
Its five-person team sent out more than 120,000 SDSs companywide in
2013 while proactively increasing customer satisfaction.
Established in 2006, the IHS SPECTRUM Excellence Awards program
is presented by the IHS customer recognition team. Nominations for
next year’s IHS SPECTRUM Excellence Awards will open starting
January 1, 2015. For more information about the award program,
please visit www.IHS.com/SPECTRUM-Awards or contact KC Chartrand,
IHS SPECTRUM Excellence Awards committee chair, at
kc.chartrand@ihs.com.
About IHS
(www.ihs.com)
IHS (NYSE: IHS) is the leading source of information, insight
and analytics in areas that shape today’s business landscape.
Businesses and governments in more than 165 countries around the
globe rely on the comprehensive content, expert independent
analysis and flexible delivery methods of IHS to make high-impact
decisions and develop strategies with speed and confidence. IHS has
been in business since 1959 and became a publicly traded company on
the New York Stock Exchange in 2005. Headquartered in Englewood,
Colorado, USA, IHS is committed to sustainable, profitable growth
and employs more than 8,000 people in 31 countries around the
world.
IHS is a registered trademark of IHS Inc. All other company and
product names may be trademarks of their respective owners. © 2014
IHS Inc. All rights reserved.
IHS Inc.Dan Wilinsky, +1-303-397-2468dan.wilinsky@ihs.comorPress
Team, +1-303-305-8021press@ihs.com
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