Arrow Electronics Enhances Relationship With Winland; In-Plant Store and Arrow Collaborator Provide Increased Flexibility and Reduces Cost.Business Editors MELVILLE, N.Y.--(BUSINESS WIRE)--June 13, 2002 Arrow Electronics Arrow Electronics NYSE: ARW is a Fortune 500 company headquartered in Melville, New York. This company specializes in products and services of electronic components and computer products. , Inc. (NYSE NYSE See: New York Stock Exchange : ARW ARW Air Refueling Wing ARW Advanced Research Workshop ARW Associated Resume Writers ARW Army Ranger Wing (Irish Special Forces) ARW American Revolutionary War ARW Angle Random Walk ARW Aeroelastic Research Wing ) announced that it has signed an agreement with Winland Electronics for use of Arrow Collaborator and the installation of an Arrow Electronics In-Plant Store. Arrow In-Plant Stores provide on-site personnel, warehousing and materials management Materials management is the branch of logistics that deals with the tangible components of a supply chain. Specifically, this covers the acquisition of spare parts and replacements, quality control of purchasing and ordering such parts, and the standards involved in ordering, to fulfill companies' production and engineering requirements. The analysts and operators use Arrow's custom systems to manage the planning, receiving, inspection, material handling and inventory of material, effectively allowing companies to concentrate on core competencies by outsourcing inventory management. Arrow Collaborator addresses every day supply chain issues and improves inventory efficiency by providing real-time, online responses to materials planning requirements. With the exception-based features of Arrow Collaborator, customers can pinpoint imbalances between supply and demand, identify which part is in short supply, when it goes short, and when it becomes available again. Arrow Collaborator not only highlights areas of concern and identifies priorities for corrective action A corrective action is a change implemented to address a weakness identified in a management system. Normally corrective actions are instigated in response to a customer complaint, abnormal levels if internal nonconformity, nonconformities identified during an internal audit or ; it also provides the detail necessary to get to the root cause of the problem. "We evolved our supply chain strategy with Arrow as our needs grew," said Kim Kleinow, Vice President of Procurement at Winland Electronics, Inc. "The Arrow In-Plant Store and Collaborator forecast analysis will enable us to manage our inventory more efficiently and cost-effectively to support our Just-In-Time (JIT JIT - dynamic translation ) requirements." An attractive benefit of the store is that Winland assumes ownership of the material only when they pull it from the store, which will significantly reduce their cost of ownership, including inventory carrying costs Carrying costs Costs that increase with increases in the level of investment in current assets. , receiving, inspection, warehousing, and product obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. . In addition, because Arrow will be holding the physical inventory on-site at Winland, and a dedicated Arrow In-Plant Store Coordinator will be managing the material pipeline, the store will reduce material shortages and increase Winland's inventory flexibility. "Arrow is really excited about expanding our relationship with Winland," said Jamie McConaty, President of Arrow Electronics Semiconductor Group. "Arrow's in-plant store and Arrow Collaborator, coupled with activity summaries and performance tracking reports, enable Arrow to be a powerful means for improving overall supply chain processes." About Arrow Electronics Arrow Electronics is one of the world's largest distributors of electronic components and computer products and a leading provider of services to the electronics industry. Headquartered in Melville, New York Melville is a hamlet and census-designated place in the town of Huntington in Suffolk County on Long Island, New York, in the United States. As of the 2000 census, 14,533 people resided there. , Arrow serves as a supply channel partner for more than 600 suppliers and 175,000 original equipment manufacturers, contract manufacturers, and value-added resellers through more than 200 sales facilities and 23 distribution centers in 40 countries and territories. Detailed information about Arrow's operations can be found at www.arrow.com. About Winland Electronics Winland Electronics, Inc. based in Mankato, MN, designs and manufactures custom electronic control products and systems, as well as proprietary products for the security/industrial marketplace. Detailed information about Winland's operations can be found at www.winland.com |
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