Arrow Electronics Named to InformationWeek Elite 100 for Developing Innovative Smart Pricing Tool
May 05 2016 - 9:50AM
Business Wire
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.
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Arrow ElectronicsMeghan Macdonald,
303-824-4589mmacdonald@arrow.com
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