Carpenter Technology's Private Exchange Sees Success in First Year: Thousands Registered On Carpenterdirect.com, More Purchasing Every Month.Business Editors WYOMISSING, Pa.--(BUSINESS WIRE)--Nov. 2, 2001 While e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. in the steel industry saw the demise Death. A conveyance of property, usually of an interest in land. Originally meant a posthumous grant but has come to be applied commonly to a conveyance that is made for a definitive term, such as an estate for a term of years. of public exchanges such as MetalSite and MetalSpectrum in 2001, a private exchange, carpenterdirect.com(TM), continues to survive the tumult and plans to thrive in future. "When we launched in October 2000, we knew our model was different. We pioneered private exchanges for steel. We're one of the sole survivors ... and now we have a big jump on everyone who is retrenching," said Scott Myers, general manager, e-business at Carpenter Technology Corporation Carpenter Technology Corporation (NYSE:CRS) is a leading manufacturer and distributor of specialty alloys, including stainless steel and titanium, and various engineered products made from metallic and ceramic materials. , which owns and operates carpenterdirect.com. "From the outset, we made e-business a strategic part of our business plan. We were poised for evolution, not revolution -- and have been able to accommodate the industry's slow but steady migration to e-commerce." Carpenterdirect.com, which in October 2001 celebrated its first year in operation, has tallied increased sales and site visits each month since its inception. About 4,000 potential steel purchasers were registered to the site on the one-year anniversary, a figure that has grown steadily during the year. In addition, the percentage of registrants that buy metal on the site has increased every month since the launch. "Each month more people register and each month more of them are buying. These are compelling trends that speak to the long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. viability of the business," said Myers. At first, stand-alone. One year later, integrated with other business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets To capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the success of carpenterdirect.com, Carpenter Technology management has expanded the site's role. Since August 2001, the Carpenterdirect initiative has been incorporated into Carpenter's Bar Business unit. Customers can continue to receive quotes and place orders by calling the toll-free number; those customers comfortable with e-commerce, are being encouraged to purchase their metals at carpenterdirect.com, where orders can be placed 24/7. "Many of our traditional customers have told us they like the convenience speed and flexibility offered by the web site," said Andrew McElwee, vice president for the Bar Business unit of Specialty Alloys This is a list of alloys for which an article exists in Wikipedia (or is proposed but not yet written). They are grouped by base metal, in order of increasing atomic number. Within these headings they are in no particular order. Operations. "They can obtain a quote instantly from us, then work it into an estimate for a customer ... without even putting the customer on hold. So we're enabling our customers to serve their customers better. That's as important as the metal itself." McElwee said he expects carpenterdirect.com to continue impacting Carpenter's core business. "We are very optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about the future. The Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the will continue to change the way many conduct business. We are well positioned at the forefront of our industry." Site added functionality to meet customer needs Throughout its inaugural year, carpenterdirect.com was enhanced constantly to increase its value to customers. "E-business is truly business. To be successful, it has to focus on the changing needs of the customers," said Myers. "We have focused on ways to add value. By structuring the site to meet the unique needs of machine shops and toolmakers. If we just offered commerce, customers would be getting less from us.." Carpenterdirect.com boasts the Internet's most comprehensive technical database for metals, offering detailed information on 280 grades. There are 11 different ways to search the database, including by name, description or a selection of user-defined properties. Diagrams such as Carpenter's popular Selectaloy(R) diagram diagram /di·a·gram/ (di´ah-gram) a graphic representation, in simplest form, of an object or concept, made up of lines and lacking pictorial elements. allow selection of end-use appropriate metals based on easy-to-use diagrams. In addition to conventional e-commerce transactions, order status and 12-month order history are available on-line to simplify record keeping. Multiple shipping options are available and quotes can be saved for 30 days. And in response to customers' requests, carpenterdirect.com has continued to add more metals and alloys in standard shapes and sizes. About 1,000 different SKUs of tool steel were added in April 2001. It became the first specialty metals manufacturer to offer cutting services online for all stainless and tool steel long bar grades. About carpenterdirect.com Carpenterdirect.com provides user-friendly, one-stop shopping for general tool and machine shop customers and other metals fabricators. The site offers stainless bar, including Carpenter's Project 70(R) stainless machining bar, carbon and alloy alloy (ăl`oi, əloi`) [O. Fr.,=combine], substance with metallic properties that consists of a metal fused with one or more metals or nonmetals. steel, tool steel, aluminum and brass. Prompt and complete delivery of orders eliminates the hassles, waiting and uncertainty of buying metals on the Internet. Carpenter Technology is a leading manufacturer and distributor of stainless steel stainless steel: see steel. stainless steel Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat. , specialty alloys, titanium titanium (tītā`nēəm, tĭ–) [from Titan], metallic chemical element; symbol Ti; at. no. 22; at. wt. 47.88; m.p. 1,675°C;; b.p. 3,260°C;; sp. gr. 4.54 at 20°C;; valence +2, +3, or +4. and various engineered products. Carpenter had sales of $1.2 billion in fiscal 2001 (ended June 30, 2001). More information about Carpenter is available at www.cartech.com and www.carpenterdirect.com |
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