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Oracle Supports Major Chinese Trade Company Sinosteel to Improve Management Efficiency

Oracle Supports Major Chinese Trade Company Sinosteel to Improve Management Efficiency

REDWOOD SHORES, Calif., Dec. 14 /PRNewswire-FirstCall/ -- Oracle today announced a successful ERP go-live at Sinosteel Corporation, a leading Chinese trade company specializing in steel related products. The launch of the ERP system, which runs on Oracle(R) applications, is a major milestone in Sinosteel's pursuit of management efficiency. Sinosteel is consolidating the management of its operations, optimizing core business processes and enhancing online interactions with external partners.

(Logo: http://www.newscom.com/cgi-bin/prnh/20020718/ORCLLOGO )

The ERP project involves deployment of key modules of Oracle applications in Sinosteel's headquarters and eight subsidiary companies located in Beijing. The Oracle applications modules run key business processes including financial management, procurement, inventory management, sales management, project management, human resources management and customer relationship management.

The first phase of the project was launched in March. Han Consulting, an Oracle certified partner in the Oracle Partner Network, is leading the implementation.

With the new ERP system, Sinosteel is now able to deliver timely updates of accounting records and gain insights into underlying business transactions; achieve synchronous flow of materials, funds and information; integrate its systems for human resources management and customer relationship management with its financial and operation management systems; and access real-time information for effective operations management and decision-making.

"The go-live of the ERP system is a major milestone in our efforts to deploy a modern management system. It is also a testament to the joint efforts and achievements of Sinosteel, Oracle and Han Consulting," said Mr. Huang Tianwen, President of Sinosteel Corporation. "We decided on the cutting-edge applications software from Oracle as the foundation to build a sophisticated information platform to support Sinosteel's global operation. We will continue to work with Oracle to improve our informatization practice, which is a very important mechanism for the future development of our company."

"The Sinosteel ERP system go-live marks a major success for Oracle in the trade industry of China," said Aldous Wong, General Manager of Manufacturing, Retail and Distribution Industry Group, Oracle Greater China. "Oracle has always been very supportive of Chinese companies' informatization efforts. We already have a large base of customers in the manufacturing industry, covering hi-tech, steel, industrial manufacturing, transportation and other traditional manufacturing sectors. The experience of implementing this ERP project for Sinosteel is very useful for Oracle as this will drive the trade industry."

Investing in Oracle Applications to support business growth

As one of the 100-plus companies under direct supervision of the State Owned Assets Supervision and Administration Commission (SASAC) of China, Sinosteel is a major raw materials supplier and sales agent for Chinese steel producers engaging in diverse business activities covering resources, trade, technology and specialized services.

Sinosteel is in the middle of rapid expansion to develop its business. In overseas markets, the company is working to establish resource supply bases; domestically, it is engaged in extensive restructuring of subsidiary companies. This creates the urgent need for a well-functioning information platform to improve business insights and management efficiency, create flexible and adaptable business operations and processes and mitigate various risks.

After four months of deliberation and comparison, Sinosteel chose Oracle applications as its information platform.

Dr. Chen Jiabing, Director of Han Consulting and Project Manager responsible for Sinosteel ERP implementation, said, "Sinosteel is among the first large trading companies in China to launch an ERP project. The company's diverse legacy systems and complex business activities make this a very demanding project. Sinosteel chose Oracle applications because it is built on open standards and provides a flexible platform. These are critical to enable the company to rapidly roll out its ERP system, in order to introduce a modern management mechanism and accomplish strategic integration of its entire business operations."

This ERP system delivers multiple benefits to Sinosteel, including better control of business processes, improved efficiency between business unit and employees, enhanced inter-company coordination and more transparent operations.

Oracle applications -- including the Oracle E-Business Suite, Oracle's PeopleSoft Enterprise, and Oracle's JD Edwards EnterpriseOne -- enable information-driven business processes that connect and automate an organization. Developed to deliver business insight, adaptive industry processes and a superior ownership experience, Oracle applications enable efficient management of all core business functions, such as customer interactions, financial management, human resources and supply chain management.

About Sinosteel Corporation

Sinosteel is one of the 100-plus big companies under the direct supervision of SASAC. The company is engaged in the development, extraction and production of metallurgical mine resources, providing trade and logistic services for metallurgical raw materials and related products, and research and development and application of metallurgical technologies. Find more detailed information at http://www.sinosteel.com/.

About Oracle

Oracle is the world's largest enterprise software company. For more information about Oracle, visit our Web site at http://www.oracle.com/ .

Trademarks

Oracle, JD Edwards, and PeopleSoft are registered trademarks of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners.

Oracle Corporation

CONTACT: Susie Penner of Oracle, +1-650-506-1973, or
[email protected]; or Brandee Barker of Zeno Group, +1-415-369-8111,
or [email protected], for Oracle

Web site: http://www.sinosteel.com/

Web site: http://www.oracle.com/

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