Datastream Extends Enterprise Asset Management with Asset Performance Management Strategy.Business Editors National Manufacturing Week 2003 Booth #1232 CHICAGO--(BUSINESS WIRE)--March 3, 2003 Datastream Systems, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : DSTM DSTM Dual Stack Transition Mechanism DSTM Differential Space-Time Modulation DSTM Don't Shoot the Messenger, Inc (Milton, Ontario, Canada) DSTM Directorate of Science, Technology and Medicine DSTM Department Store Type Merchandise ) today announced its Asset Performance Management strategy at National Manufacturing Week. Building on Datastream's core competency A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
In the coming months Datastream will announce product enhancements to its flagship EAM solution, Datastream 7i(TM), that deliver new capabilities for forecasting and modeling "what if" scenarios, so customers can take action to optimize asset performance and make better forward-looking business decisions. With these enhancements, enterprises will be able to extract asset history information to develop projections on equipment uptime and maintenance costs. This information can be used for strategic business planning and for taking 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 . Customers can compare costs and performance across multiple plants and identify specific asset anomalies within single plants that are impairing performance. And they can develop key performance indicators to give executives "at a glance" information on asset performance. Datastream 7i customers accumulate enormous amounts of cross-enterprise asset data through their daily maintenance and management routines. By extending EAM to include Asset Performance Management, customers can use asset analytics to derive a wealth of strategic business information from the Datastream 7i solution. "Smurfit-Stone Container Smurfit-Stone Container Corporation (NASDAQ: SSCC) is an American paperboard and paper-based packaging company based in Chicago, Illinois. It has approximately 38,600 employees. Smurfit-Stone was formed in 1998 as a result of the merger between Jefferson Smurfit Corp. Corporation has used Datastream 7i to consolidate inter-mill business processes and share information, thus promoting greater efficiency across our sites," said Rod Jackson, director of information technology for the Consumer Packaging Division at Smurfit-Stone Container Corporation. "We are excited about Datastream's Asset Performance Management strategy, because it means we can do more with our large volume of asset data. We can identify trends and irregularities and develop forecasts to drive our business decisions. Datastream's Asset Performance Management strategy extends the value of Datastream 7i so it becomes a truly strategic enterprise performance management tool, as well as a powerful EAM solution." "We have heard our customers loud and clear: they don't want to just 'count' their assets; they want to use their asset data in new ways so they can make accurate forecasts that drive better business decisions," said Datastream President 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. Larry Blackwell. "Datastream's Asset Performance Management strategy is a company-wide commitment to provide our customers with the technology and services they need to gain true business insight from their EAM operations, so they can make sound forward-looking decisions that optimize performance across the enterprise." About Datastream Systems, Inc. Datastream Systems, Inc. (NASDAQ: DSTM) provides Asset Performance Management software and services to enterprises worldwide, including more than 60 percent of the Fortune 500. Datastream's solutions combine world-class asset management functionality with advanced analytics to deliver a powerful platform for optimizing enterprise asset performance. By using Datastream's solutions, customers can maintain and manage capital assets capital assets n. equipment, property, and funds owned by a business. (See: capital, capital account) - such as manufacturing equipment, vehicle fleets and buildings - and create analyses and forecasts so they can take action to improve future performance. Datastream's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , Datastream 7i, delivers a complete Asset Performance Management infrastructure by combining an Internet architecture with broad enterprise asset management functionality, integrated procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. , advanced analytics and multi-site capability. Datastream was founded in 1986 and has customers in more than 140 countries. For more information, visit www.datastream.net. Datastream and Datastream 7i are marks of Datastream Systems, Inc. or its subsidiaries. All other products or Company names mentioned are used for identification purposes only and may be trademarks of their respective owners. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially include, but are not limited to: increasing competition in the markets in which the Company competes; the stability of certain of the Company's strategic relationships, including those with suppliers of maintenance, repair and operations Maintenance management or Maintenance, (MRO'), is fixing any sort of mechanical or electrical device should it become out of order or broken (repair) as well as performing the routine actions which keep the device in working order (maintenance) or prevent trouble parts; the ability of the Company to: sell larger and more complex software solutions, successfully transition to the development of further Internet-based products, successfully implement an application service provider business model , enhance its current products and develop new products that address technological and market developments; and other risk factors listed from time to time in the Company's SEC reports, including, but not limited to the "Risk Factors" contained in the Company's Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended December 31, 2001. The Company does not have, and expressly disclaims, any obligation to release publicly any updates or any changes in the Company's expectations or any changes in events, conditions or circumstances on which any forward-looking statement is based. |
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