Product category:
Engineering Industry Developments and Awards
News Release from: Sparesfinder
Edited by the Engineeringtalk Editorial
Team on 10 July 2001
Spare parts rationalisation company wins
award
Sparesfinder, the B2B company specialising in the rationalisation of engineering spare parts inventory, has won the prestigious Aspentech Award 2001 for Innovative Business Practice.
Sparesfinder, the B2B company specialising in the rationalisation of engineering spare parts inventory, has won the prestigious Aspentech Award 2001 for Innovative Business Practice sparesFinder's chief executive Hedley Hamilton and director Brian Oxenham received the award from Aspentech's business support director Nick Thompson during the IChemE Gala Awards Dinner at the London Science Museum on 21 June
This article was originally published on Engineeringtalk on 28 Nov 2003 at 8.00am (UK)
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The Aspentech Award is given as part of an international awards programme run annually by the Institution of Chemical Engineers (IChemE).
The sparesFinder entry was its innovative web-based service which lets companies optimise the quantities of engineering spare parts they hold, and where they hold them.
The judges praised sparesFinder's key innovation of linking subscribers' inventories "horizontally" through its internet database.
This allows subscribers to rationalise their spare parts inventories on various sites, and provides a huge pool in which they can locate urgently-needed spare parts quickly.
Benefits include less downtime, savings from reduced inventory levels without added risk, and the possibility of selling rather than scrapping unwanted equipment.
The Aspentech Award is one of eight awards given annually for the process industries under the umbrella of the IChemE Awards programme.
In clinching first place, Sparesfinder beat off the challenge of a shortlist including three very big process industries players: international contractor Kvaerner, Advantica Technologies (ex-British Gas) and BNFL Engineering.
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