Chevron Licenses Aspen Technology's Web-Enabled Solution to Manage its Retail Supply Chain.Supply chain solution will enable Chevron to manage demand, products, freight,
and storage and financial information for 3,500 retail sites in U.S. and
CAMBRIDGE, Mass., Nov. 16 /PRNewswire/ --
Aspen Technology Aspen Technology (NASDAQ: AZPN) provides software and professional services to the manufacturing and process industries which allows companies to model, manage, and control their operations.
AspenTech was founded in 1981 by MIT professor Dr. , Inc. (Nasdaq: AZPN), the leading supplier of enterprise optimization and extended supply chain solutions for the process industries, today announced an agreement with Chevron Products Company to deploy Aspen Retail, the downstream component of AspenTech's eSupply Chain Suite(TM), to manage its retail gasoline delivery operations in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada.
By deploying AspenTech's supply chain solution, Chevron will be able to react quickly to changing market conditions by possessing real-time, global access to demand forecasts, replenishment plans and delivery schedules through a single web-enabled interface. This real-time demand information will allow Chevron to optimally schedule the distribution of its products and predict demand for gasoline and jet fuel on a daily basis, resulting in greater levels of efficiency and profitability. Aspen Retail will help Chevron improve the efficiency of the organization by better forecasting of customer demand, increasing utilization of transportation assets, and ultimately increasing motor-fuel profitability.
"Aspen Retail will be an important component of our end-to-end e-business strategy and will help us to reduce operational overhead, minimizing excess inventory levels and lowering working capital requirements Capital requirements
Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. ," said Vicki Hobbs, Manager of Delivery Coordination, for Chevron Products Company. "We anticipate significant improvements in our operational efficiency by possessing instant access to customer demand information and improving the efficiency with which we utilize our transportation assets. We chose AspenTech because of its strong understanding of our business and the flexibility of its web-enabled supply chain solution."
"Our expertise in the process industries and the ease of use of our solutions over the Internet enable us to provide differentiated supply chain solutions that will help Chevron to streamline its downstream petroleum supply chain," said Larry Evans
Larry Melvyn Evans (born March 23, 1932) is an American chess grandmaster and journalist. He has won the U.S. Chess Championship four times. , Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AspenTech. "By leveraging the Internet to drive costs out of the enterprise-wide supply chain and obtaining new levels visibility, Chevron will be able to make more effective transportation decisions and drive value to its bottom-line."
The AspenTech technology platform also offers Chevron the potential to create an end-to-end supply chain management system that would encompass the extended chain from crude to customer.
Aspen Technology, Inc. is the leading supplier of integrated software Separate software components or applications that have been combined into one package. See integrated software package. and solutions that enable process manufacturers to automate and optimize their plants and extended supply chains, while enabling e-business. With deep process knowledge, best-in-class technology, and strategic alliances with leading business and technology partners, AspenTech offers the industry's broadest family of scaleable solutions, allowing our customers to be successful in the Internet economy. AspenTech's Plantelligence(TM) solutions automate and optimize critical business processes at the plant level. AspenTech's Enterprise Optimization(TM) solutions extend the scope of optimization across the enterprise and extended supply chain. AspenTech eSupply Chain solutions enable manufacturers to link seamlessly to customers, suppliers and on-line trading exchanges, creating a collaborative, flexible extended enterprise. AspenTech employs more than 1,800 people worldwide. For more information, visit www.aspentech.com.
Certain paragraphs of this press release contain forward-looking statements for purposes of the safe harbor Safe Harbor
1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.
2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. For this purpose, any statement using the term "will," "should," "could," "anticipates," "believes" or a comparable term is a forward-looking statement. Actual results may vary significantly from AspenTech's expectations based on a number of risks and uncertainties, including: AspenTech's lengthy sales cycle which makes it difficult to predict quarterly operating results; fluctuations in AspenTech's quarterly operating results; AspenTech's dependence on customers in the cyclical chemicals, petrochemicals and petroleum industries; AspenTech's need to hire additional qualified personnel and its dependence on key current employees; intense competition; AspenTech's dependence on systems integrators and other strategic partners; and other risk factors described from time to time in AspenTech's periodic reports and registration statements filed with the Securities and Exchange Commission. AspenTech cannot guarantee any future results, levels of activity, performance, or achievements. Moreover, neither AspenTech nor anyone else assumes responsibility for the accuracy and completeness of any forward-looking statements. AspenTech undertakes no obligation to update any of the forward-looking statements after the date of this press release.
AspenTech, eSupply Chain Suite, Enterprise Optimization, Plantelligence, and the aspen leaf logo are trademarks of Aspen Technology, Inc., Cambridge, Mass.
tr.v. chris·tened, chris·ten·ing, chris·tens
a. To baptize into a Christian church.
b. To give a name to at baptism.
Aspen Technology, Inc.