Monday October 19, 6:02 am Eastern Time
Company Press Release
SOURCE: Oracle Corporation
LG Electronics Inc. Goes Live on Oracle(R) Applications;
Largest Oracle ERP Implementation in Asia
REDWOOD SHORES, Calif., Oct. 19 /PRNewswire/ -- Oracle Corp. today announced that LG Electronics (LGE),
headquartered in Seoul, Korea, has gone live on Oracle Financials(R). LGE is one of the world's leading suppliers of
consumer electronic goods with sales of 11.5 billion USD and 34,000 employees in 150 countries.
LGE expects the new system will improve business competitiveness by delivering a standardized and automated means of
integrating LGE's business processes for all financial data within the company. The new system is also expected to help
improve LGE's financial transparency and credibility, and facilitate independent operation of each business division based
on its own individual P&L. These cumulative benefits will ultimately enhance LGE's international credit rating.
LGE's new Oracle Financials system, used for the whole domestic operations, replaces the company's 15 year old legacy
system and supports more than 4,000 users. Oracle Financials will help management make real-time decisions based on the
most current data and information and leveraging standardized and integrated financial data within the company.
Currently, LGE is implementing Oracle Manufacturing for its Supply Chain Management at LGE's TV, air conditioner,
refrigerator and CD-ROM manufacturing plants. All domestic plants are scheduled to be completed by the end of 1999.
Already, however, LG Group is leveraging the success of Oracle Applications overseas. In January, LGE subsidiary, LG
Semiconductor (LGS) based in the United Kingdom, went live on Oracle Financials and Manufacturing in a mere 12 weeks,
a testimony of how well suited Oracle's ERP product is for the high-tech market.
''We are now able to cut business evaluation time with a reduced closing cycle'' said Mr. Y.M. You, a vice president of
LGE. ''We expect our new Oracle ERP system to provide us with a stronghold to implement aggressive business strategies
and reinforce the capability to predict financial risks by forecasting cash flow. The new system is helping LGE maintain its
dominant position in the industry.''
LGE selected Oracle Applications suite because of its high flexibility in integration with other systems, real-time decision
making capability, Year 2000 compliance, credibility in its database technology, and Oracle's consulting expertise.
LGE runs Oracle Financials 10.7 with Oracle DBMS 7.3 on Enterprise 10000 (also known as Starfire) server from Sun
Microsystems Inc [Nasdaq:SUNW - news]. However, it is also implementing Oracle Manufacturing 11.0 with Oracle
DBMS 8.0 on a different Enterprise 10000 server.
Oracle's Industrial sector provides solutions for industrial manufacturing customers and after market service providers in the
High Tech, Automotive, and Aerospace and Defense as well as the Engineer-to-Order industries.
Oracle Corporation is the world's leading supplier of software for information management, and the world's second largest
software company. With annual revenues of more than $7.5 billion, the company offers its database, application server, tools
and application products along with related consulting, education and support services, in more than 140 countries around
the world.
Regards
Neil |
