OH OH - From Dupont's most recent [5/6] SEC 10-K filing re Y2K:
- 23% of its key suppliers at risk
- 33% of major customers at "high risk" ... vs 28% [Dec 31] Figures gone up.
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Remember, Dupont said they wouldn't be stockpiling supplies?
"DuPont, which employs 93,000 people at 135 sites worldwide, won't be stockpiling supplies, even though it suspects 15% of its suppliers won't be Y2K-capable... Monday's hearing is the second one dealing with the chemical industry. It was held in New Jersey because the Garden State has the third highest chemical production level in the country, with more than 800 plants employing nearly 100,000 workers..."
Message 9493884
U.S. Senate Committee Holds Forum On N.J. Chemical Cos
How is it that at May 10 Senate hearing Dupont "suspected" that 15% of it's suppliers were at risk. Yet, SEC 10-K (filed May 6) ... 4 days earlier ... says 23%??? Wonder what the right figure is?
Just curious,
Cheryl
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DUPONT'S STATEMENT: Special Committee on Year 2000 Technology Problem
Paul Couvillion, Global Director, DuPont Year 2000 Project
May 10, 1999
"About three-fourths of the suppliers surveyed responded; of those we have assessed 15% as potentially creating interruptions to the continuity of supplies or services. Key reasons for our concerns are "no response," "no program in place," "late completion," or "no supplier assessment in place."...
"About half of the customers we surveyed responded; of those responding we have assessed 33% as potentially creating interruptions to our business processes. Key concerns include the late remediation of order placement systems, receipt of product by customers and accounts payable systems."
senate.gov
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FROM 5/6/99 SEC 10-K FILING
The company is continuing its Business Partner 2000 Program with key suppliers and major customers. The company has substantially completed its survey of key suppliers and as of the end of the first quarter of 1999, assessed approximately 23% of its key suppliers as having a high risk of not becoming Year 2000-capable on a timely basis.
The company continued its survey of its major customers focusing on their Year 2000-capability as it affects ordering procedures for, as well as delivery of and payment for DuPont products.
Based on responses from 55 percent of its major customers, the company assessed approximately 33 percent of them as being in the high risk category as of the end of the first quarter 1999 versus 28 percent as of December 31, 1998.
This change results from an increase in the number of surveys conducted of major customers from Asia Pacific and South America. However, the company is working with its major customers and key suppliers to reduce the risk that they will not become Year 2000-capable on a timely basis. If this risk cannot be reduced to the company's satisfaction, appropriate contingency plan will be developed by the end of June 1999.
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