Cirqit Contracted to Provide Comprehensive Procurement and Sourcing Services to Nortek.Business Editors/High-Tech Writers WHIPPANY, N.J.--(BUSINESS WIRE)--May 20, 2003 Cirqit, a leading provider of eProcurement and Price Management software for the print category, announced today that it has completed the first phase of an enterprise wide deployment with Nortek, Inc. Under the terms of a three-year agreement, Nortek will outsource print related procurement, sourcing, and supply chain management activities to Cirqit. "Cirqit has delivered impressive results," said Raj raj also Raj n. Dominion or rule, especially the British rule over India (1757-1947). [Hindi r Bhalla, Head of Strategic Sourcing at Nortek. "In our first full quarter of deployment, we have realized significant hard cost savings and captured almost all of the commercial print spend from eight of our largest operating divisions." Cirqit is providing managed print procurement services for Nortek that includes eProcurement software, business services, and print purchasing experts. In addition to managing print procurement at the buyer level, Cirqit has consolidated Nortek's print supply chain, negotiated contract pricing, standardized processes, and implemented best practices. Cirqit's eRFQ application, Order-It(TM), is used by Nortek to submit requests for print production. Cirqit's buyers then use Order-It(TM) and the price management application, Price-It(TM), to source work to the most cost effective supplier. We are pleased to be working with Nortek's corporate sourcing group and all of the Nortek operating units operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon ," said Mark Hausser, President and Chief Executive Officer of Cirqit, Inc. "This agreement presents Cirqit with the opportunity to deliver maximum value for the Nortek organization by utilizing our full software and service offering." Cirqit will continue to extend across the Nortek organization to additional business units, and will incorporate additional types of printed material including labels and business forms. About Nortek Nortek (a wholly-owned subsidiary of Nortek Holdings, Inc.) is a leading international manufacturer and distributor of high-quality, competitively priced building, remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling and indoor environmental control products for the residential and commercial markets. Nortek offers a broad array of products for improving the environments where people live and work. Its products include range hoods and other spot ventilation products; heating and air conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. systems; vinyl products, including windows and doors, siding, decking, fencing and accessories; indoor air quality Indoor Air Quality (IAQ) deals with the content of interior air that could affect health and comfort of building occupants. The IAQ may be compromised by microbial contaminants (mold, bacteria), chemicals (such as carbon monoxide, radon), allergens, or any mass or energy stressor systems; and specialty electronic products. About Cirqit Cirqit is a software and services company focused on the unique challenges of print procurement within the Fortune 2000. As a Procurement Service Provider (PSP (PlayStation Portable) See PlayStation. ), Cirqit delivers cost savings through Consulting Services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" , Internet-based Software Applications, or Procurement Outsourcing Procurement Outsourcing is the transfer of specified key procurement activities relating to sourcing and supplier management to a third party — perhaps to reduce overall costs or maybe to tighten the company's focus on its core competencies. Services. Cirqit's headquarters is located in Whippany, N.J. The company's sales offices are located in Chicago, Seattle, Whippany and Santiago, Chile Santiago, officially Santiago de Chile (Spanish: (helpinfo)), is the capital of Chile, and the center of its largest conurbation (Greater Santiago). . Cirqit can be found on the Web at www.cirqit.com. |
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