Boston, MA 06/20/2014 (wallstreetpr) – General Electric Company (NYSE:GE) on June 18, 2014 announced that the new Elastic Cloud Supply Chain Platform called Elastic Cloud won the Manufacturing Leadership 100 (ML 100) award. Elastic Cloud is meant for real-time management of services and equipment and oil and gas materials. GE was among various other companies that won the award during the 10th Annual Manufacturing Leadership Summit in Palm Beach, Florida.
Elastic Cloud Technology: Collaborative Effort of GE, Global Research and GE Oil & Gas
The development of Elastic Cloud Technology is the result of collaboration among General Electric Company (NYSE:GE), Global Research and GE Oil and Gas. Global Research is the technology development section of the company.
Elastic Cloud Technology software is designed especially for monitoring, managing as well as optimization of sourcing, flow, production and inventory of the cumbersome gas and oil raw materials, final products and components which are meant to be installed or serviced at the customer sites.
Statement from the Supply Chain Technology Leader at GE Global Research
The Supply Chain Technology Leader at GE Global Research, Peter Koudal said that the Elastic Cloud represented technological breakthrough which will be used for benefit of those customers who have need timely scheduling and delivery of the services and parts. He explained that this software did not lead to surprise interruptions, thereby ensuring fast work in the oil and gas industry, which is of paramount importance.
Elastic Cloud Technology- A Project Undertaken in 2012
The two vital trends which prompted General Electric Company (NYSE:GE) to undertake the Elastic Cloud Technology project in the year 2012 were:
- Increase in the level of product customization
- Increased cost of downtime at the oil fields
In this context, Jody Markopoulos, VP of Sourcing at GE Oil & Gas explains that the customers in this industry will not wait for weeks or days for their equipment to get replaced or repaired and therefore the work needs to be done in just a few hours for remaining in the competition.
