FOR IMMEDIATE RELEASE
Editorial Contact:
Jeffrey Ayers
RMG, Inc.
(212) 261 4279
jayers@renegade.dentsu.com

GETS GOES NUCLEAR

ACQUION's Innovative Sourcing And Transaction Tool To Be Implemented At Duke Power, One Of World's Largest Nuclear Facilities

EDITOR'S SUMMARY:

  • Consolidates energy industry purchasing and inventories
  • Provides a single point of entry to search and source
  • Streamlines purchasing cycle from days/weeks to minutes -- allows comparative shopping in real time
  • Creates Buyer/Supplier partnerships enhancing business practices through pre-negotiation of pricing and terms
  • Pools internal and ACQUION buying power dramatically reducing cost of materials
  • Global sourcing from multiple suppliers -- vastly improves material availability
  • Overcomes paperwork errors, the most costly obstacle in the procurement process -- recognition system ensures that only fully validated orders are processed

GREENVILLE, SC, September 30,1996 -- ACQUION, a wholly owned subsidiary of Fluor Corporation (NYSE: FLR), a global engineering, construction and diversified services company, with an investment in low-sulfur coal, has begun implementation of its new virtual purchasing tool called GETS; Global Electronic Trading Services at one of the world's largest nuclear facilities, North Carolina's Duke Power. On the heels of its success at PSI (PDVSA Services, Inc.), GETS is rapidly becoming the de facto electronic commerce solution for energy related companies.

"Corporations are more vigilant today in finding ways to cut operational expenditures. Procurement departments in most large organizations are one of the last areas where substantial savings can be realized through innovative automation. We feel that GETS can meet the challenge of providing a solution for quickly and accurately sourcing products and services providing the user with a single point of entry to simultaneously search and source. Our core competency in supply chain management through our affiliation with Fluor Daniel has given us the experience and expertise to pioneer electronic commerce solutions," comments Carl Falk, President of ACQUION.

Electronic Catalogs

The linchpin of GETS is its electronic supplier catalogs. Paper supplier catalogs are loaded in the ACQUION database and customized to reflect special pre-negotiated supplier pricing agreements. GETS provides Buyers access to these online supplier catalogs offering up-to-date private pricing, accurate descriptions, lead times, and other mission critical information enabling them to source pre-approved products and services.

Configurations

Users can employ either Intranet, VAN, or the Internet to access GETS. GETS software has been designed for expandability and flexibility ensuring adoption to market changes. GETS can also be implemented according to user's needs and existing platforms. A stand alone buyer workstation without system integration can be provided or a workstation that is fully integrated into the legacy system at the line item level.

Automatic Validation

ACQUION has incorporated an error recognition feature that addresses one of the most prevalent and time-consuming procurement problems--Paperwork Errors. The smallest mistake can severely hinder the transaction process cycle, translating to wasted time and money. GETS provides automatic validation to help remedy this problem. Form fields have been designed which must be completed prior to a document being sent. If incorrect or incomplete information in entered, the user receives a prompt identifying the problem. With GETS, only fully validated orders can be sent.

Buyers

The major benefit for buyers using GETS is that their procurement costs and time decrease dramatically. GETS increases both the buyer's ability to source comparatively and to access global suppliers, facilitating better pricing. Procurement managers control access to catalogs so acquisitions can only be made from key suppliers, reducing leakage (excess costs incurred by purchasing from non-preferred suppliers). GETS provides buyers with a maximized sourcing tool unequaled in today's marketplace. GETS provides quick and accurate sourcing, increasing order capacity, reducing cycle time, improving accuracy, reducing total suppliers, and reducing cost of goods and materials through pooled internal and ACQUION purchasing power. GETS also ensures material availability by providing users with alternate sources of supply.

Suppliers

GETS provides suppliers with a facility to create and maintain a single catalog that is globally accessible to buyers yet contains prices which reflect separate and secure Buyer Agreements. Suppliers will be able to perform direct on-line updates to their catalog and add, modify, or delete their information. Suppliers have complete control over who accesses their catalogs. Catalogs are centrally located in, and maintained by ACQUION. All catalogs, if permission is granted, can be accessed globally. Suppliers will also benefit by not having to incur prohibitively expensive printing costs each time a new catalog is required.


ACQUION, an affiliate of Fluor Daniel, was incorporated in 1994 to build upon Fluor's historic competency in supply chain management. ACQUION's mission is the fulfillment of true electronic commerce and electronic data interchange with a focus on the petrochemical, utility and construction industries.
For further information:
Robert A. Novak
Tel 864 281 5816
Fax 864 281 4576
bnovak@acquion.com
 
Peter M. Lewis
Tel 864 281 5310
Fax 864 281 4576
plewis@acquion.com

ACQUION, Inc.  Halton Pointe, Suite 2  204 Halton Road  Greenville SC 29607
Tel: 864-281-4646  Fax: 864-281-4576  
email:carl@acquion.com