Cathay Pacific Airways Flies High With Oracle Internet Procurement
Monday April 2 12:01am
Source: PR Newswire
Major Airline Expects to Save Millions Through E-Business Efficiencies
REDWOOD SHORES, Calif., April 2 /PRNewswire/ -- ( oracle.com ) Oracle Corporation (Nasdaq: ORCL), the largest provider of software for e-business, and Cathay Pacific Airways, Hong Kong's award-winning carrier, today announced Cathay Pacific's selection of a key component of the integrated Oracle E-Business Suite: Oracle Internet Procurement. Cathay Pacific's staff will now be able to connect directly to their suppliers via the Internet to enhance co-ordination, relationships and purchasing efficiency.
Cathay Pacific successfully implemented a live pilot system with Oracle Internet Procurement in less than sixty days. The solution, "CXeBuy," including both Oracle Internet Procurement and Purchasing Intelligence, has been deployed initially to a selected group of users and suppliers in Hong Kong. "With the success of the pilot phase, we have commenced a company-wide roll-out of CXeBuy -- starting in Hong Kong, spreading to the region and finally going global," said Greg Hughes, Cathay Pacific's General Manager of Airline Purchasing.
This e-Procurement initiative is one of Cathay Pacific's key e-business projects, part of a $260 million investment over the next three years to further Cathay Pacific's position as Asia's leading e-business airline. Internet Procurement is expected to help reduce the airline's total expenditure by more than $40 million a year by 2003, with much of the savings coming from online purchasing and a substantial reduction in inventory carrying costs.
As part of its Internet procurement plans, Cathay Pacific is participating in a number of vertical and horizontal exchanges, including the Aeroxchange online marketplace (with twelve other major airlines worldwide) and local e-marketplaces including PCCW's MartPOWER. As a result, Cathay Pacific expects to conduct 35% to 50% of its purchasing over the Internet within the next three years.
Oracle Internet Procurement standardizes and simplifies Cathay Pacific's procurement processes across departments; it also enables Cathay Pacific to leverage its corporate-wide buying power. Suppliers also benefit from a more efficient, integrated, procure-to-pay process. Furthermore, in the future, Cathay Pacific will use Oracle Purchasing Intelligence to provide improved information on company-wide expenditure and supplier performance to enhance financial efficiencies.
In addition to Oracle's leadership in e-business and ability to provide global support, the Oracle procurement solution was selected based on its ability to integrate with online marketplaces and Cathay Pacific's existing back-end systems. "With Oracle Internet Procurement, we are one of the first airlines in the world that connects to marketplaces from our own purchasing platform. We are confident that CXeBuy can help us further our lead as Asia's leading e-Business airline," added Hughes.
About Oracle
Oracle Corporation provides the software that powers the Internet. For more information about Oracle, please call 650-506-7000.
About Cathay Pacific Airways
Cathay Pacific Airways, based in Hong Kong, is an international airline offering scheduled passenger and cargo services to 51 cities in 5 continents. Cathay Pacific Airways employs over 14,300 people in 35 countries, with more than 10,000 working in Hong Kong. Cathay Pacific Airways is part of the Swire Group and listed on the Stock Exchange of Hong Kong. Cathay Pacific is also a founding member of the oneworld alliance.
Trademarks
Oracle is a registered trademark of Oracle Corporation. Other names may be trademarks of their respective owners.
Notes to Editors:
Aeroxchange(TM), formed in the second half of 2000, is the airline industry's largest business-to-business e-commerce exchange. It will offer the most comprehensive selection of aircraft parts and services. The founding partners include Air Canada, All Nippon Airways, America West Airlines, Cathay Pacific Airways, FedEx, Japan Airlines, Lufthansa German Airlines, Northwest Airlines, Scandinavian Airlines System (SAS) and Singapore Airlines. Oracle Corporation is the technology partner powering Aeroxchange.
MartPOWER is Pacific Century CyberWorks Limited (PCCW)'s business-to-business horizontal electronic marketplace providing buyers and sellers across all industries with online procurement solutions and collaborative supply chain management. Oracle is the exchange platform provider to MartPOWER.
Source: Oracle Corp.
Contact: Sally Huchingson, 650-633-8277, or sally.huchingson@oracle.com, or Letty Ledbetter, 650-506-8071, letty.ledbetter@oracle.com, both of Oracle Corp., Patrick Garrett of Cathay Pacific Airways, 852-2747-5378, or patrick_garrett@cathaypacific.com
finance.individual.com |
