Arrow Electronics Named to InformationWeek Elite 100 for Developing Innovative Smart Pricing Tool
By Business Wire News
By Business Wire News
Arrow Electronics, Inc. (NYSE: ARW) was named to the InformationWeek Elite 100 at the InformationWeek Elite 100 Conference on Tuesday.
Arrow was recognized for designing an automated, data-driven and scalable pricing tool that incorporates decades of Arrow subject matter expert expertise and complex pricing heuristics to manage the availability risk for end-of-life electronic components supporting mission-critical systems. Arrow built the pricing tool on an open-source, Big Data architecture that extracts data from a number of different sources.
Arrow customers in the aerospace and defense market, in particular, are required to maintain long-term stock for electronic components used in mission-critical systems. Arrow’s supply assurance business, using tools developed over the past two decades serving this marketplace, helps customers reduce the risk of not having these critical electronic components by investing in end-of-life components. However, there is significant variability in pricing due to the finite status of the supply, the long-term support requirements for the products they are installed in, and the uncertain future demand. The intelligent pricing application that Arrow developed helps to mitigate the uncertainty and risk around this variability.
“It’s an honor to be named to the InformationWeek Elite 100,” said Vin Melvin, Arrow senior vice president and chief information officer. “We took a once laborious and time-consuming task and transformed it from art to science—creating significant business efficiencies along the way. Arrow is uniquely positioned to tackle challenges like this—every day we help some of the biggest names in technology source, create and advance smart, data-driven solutions that deliver a compelling return on investment.”
In order to make the InformationWeek Elite 100, organizations must demonstrate a pattern of technological, procedural and organizational innovation. To learn more about the Elite 100, please visit http://www.informationweek.com/about-faq/d/d-id/1127812.
About Arrow Electronics
Arrow Electronics is a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. Arrow serves as a supply channel partner for more than 100,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 460 locations serving over 85 countries.
Meghan Macdonald, 303-824-4589