CANTON, Ohio, Sept. 14, 2011 /PRNewswire/ -- The Timken Company (NYSE: TKR) today announced that InformationWeek named the company to its annual listing of the nation's 500 most innovative users of business technology. The company ranked in the top half of the list, at number 228.
Timken was recognized for developing a new business intelligence tool for Timken's authorized automotive distributors. The tool enables category management services and allows automotive aftermarket distributors to use the lifecycle demand curve of individual parts to capitalize on local-market sales opportunities. The service combines vehicle registration data and proprietary algorithms to recommend appropriate inventory for local sale. With stronger demand forecasting, distributors can optimize their inventory and improve profitability, with greater confidence that they are stocking the right parts at the right levels.
"Working in collaboration with our automotive aftermarket business leadership, we designed an intuitive product that allows Timken distributors to make sure they have on-hand the parts that customers need," said Dan Muller, senior vice president -- strategy and chief information officer. "This allows Timken and our customers to offer the right products at the right time, and in the right place."
"For 23 years, the InformationWeek 500 has chronicled and honored the most innovative users of business technology," said InformationWeek Editor In Chief Rob Preston. "In this day and age, however, being innovative isn't enough. Companies and their IT organizations need to innovate faster than ever before to stay a step or two ahead of their customers, partners, and competitors. This year's ranking placed special emphasis on those high-octane business technology innovators."
InformationWeek has also named Timken's Category Management business intelligence tool one of its '20 Great Ideas' of 2011.
Only U.S.-based companies with at least $250 million in revenue are eligible for inclusion on the InformationWeek 500. For the complete list, see www.informationweek.com/1309.
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