Arch Coal Wins CIO 100 Award for Resourcefulness
Arch Coal Wins CIO 100 Award for Resourcefulness
September 4, 2003 at 12:12 PM EDT
ST. LOUIS, MO. (Sept. 4, 2003) - St. Louis-based Arch Coal, Inc. (NYSE: ACI) earned the prestigious CIO 100 award from CIO magazine. The 2003 CIO 100 award recognizes organizations around the world that excel in positive business performance through resourceful IT management and practices.
"This year's CIO 100 award recipients are being honored because their companies have demonstrated resourceful use of IT systems, staff and budgets," says Abbie Lundberg, editor in chief, CIO magazine. "Maximizing return on investment is a priority when times are tight, and these companies excel in generating greater value from limited resources."
Judges selected Arch Coal based on its strengths in IT asset management, staffing and partnerships.
"We are honored to be included among the CIO 100," said Arch Coal's Vice President of Information Services Larry R. Brown. "Extracting value from all aspects of information technology allows us to improve efficiencies and stay competitive. Employees at every level of the organization are constantly seeking out new and innovative ways to apply technology."
Arch Coal has undertaken initiatives that improve efficiency and create shareholder value. One example is Arch's creative use of technology to streamline its largest coal mining operation, Black Thunder. Arch Coal partnered with Caterpillar, Mincom and Trimble Navigation to install MineStar, a central dispatching system. MineStar relies on a global positioning system (GPS) to track and monitor the location of major mining equipment. The computer dispatcher can optimize equipment utilization by rerouting trucks before bottlenecks occur. With approximately a 10% efficiency improvement, the MineStar technology eliminated the need to acquire three 300-ton trucks for Black Thunder's fleet deferring $9 million in capital spending and resulting in an expense savings of roughly $3.6 million annually.
In addition, Arch Coal was awarded the CIO 100 based on its early adoption of reverse auctions. Through a partnership with Perfect Commerce/BayBuilders, Arch Coal's reverse auctions have further encouraged competitive pricing and proven exceptionally effective in procuring everything from oil filters to conveyer belts. Arch has conducted 30 auctions over the course of the last twenty-four months with savings ranging from 5-17% per auction. Estimated savings is in excess of $7 million.
According to CIO magazine, honorees of the 16th annual CIO awards were selected through a comprehensive three-step process from hundreds of applications. First, companies filled out an online application form. In addition, CIO editorial staff and members of its expert panel nominated companies they deemed best fit the award criteria. A team of CIO editors and writers reviewed the application forms and expert recommendations and voted on the final 100.
Arch Coal and Madison-based Alliant Energy were the only energy-related companies to receive the 2003 CIO 100 award. Complete coverage of the 2003 CIO 100 is available at www.cio.com.
About Arch Coal, Inc.
Arch Coal (NYSE: ACI) is the nation's second largest coal producer and mines low-sulfur coal exclusively. Through its subsidiary operations in West Virginia, Kentucky, Virginia, Wyoming, Colorado and Utah, Arch provides the fuel for approximately 6 percent of the electricity generated in the United States. In 2002, Arch Coal's revenues totaled $1.5 billion.
About CIO Magazine
CIO magazine (launched in 1987) is published by CXO Media Inc. CXO Media serves CIOs, CEOs, CFOs, COOs and other corporate officers who use technology to thrive and prosper in this new era of business. The company strives to enhance partnerships between C-level executives, as well as create opportunities for information technology (IT) and consumer marketers to reach them. In addition to publishing CIO and CSO magazines, CXO Media produces www.cio.com, The CIO Insider, www.darwinmagazine.com, and www.CSOonline.com as well as Executive Programs, a series of conferences that provide educational and networking opportunities for corporate and government leaders.
CXO Media Inc. is a subsidiary of IDG, the world's leading IT media, research and exposition company. IDG publishes more than 300 computer magazines and newspapers and 4,000 book titles and offers online users the largest network of technology-specific sites around the world through IDG.net (www.idg.net), which comprises more than 270 targeted Web sites in 70 countries. IDG is also a leading producer of 168 computer-related expositions worldwide and provides IT market analysis through 50 offices in 43 countries worldwide. Company information is available at www.idg.com.
"This year's CIO 100 award recipients are being honored because their companies have demonstrated resourceful use of IT systems, staff and budgets," says Abbie Lundberg, editor in chief, CIO magazine. "Maximizing return on investment is a priority when times are tight, and these companies excel in generating greater value from limited resources."
Judges selected Arch Coal based on its strengths in IT asset management, staffing and partnerships.
"We are honored to be included among the CIO 100," said Arch Coal's Vice President of Information Services Larry R. Brown. "Extracting value from all aspects of information technology allows us to improve efficiencies and stay competitive. Employees at every level of the organization are constantly seeking out new and innovative ways to apply technology."
Arch Coal has undertaken initiatives that improve efficiency and create shareholder value. One example is Arch's creative use of technology to streamline its largest coal mining operation, Black Thunder. Arch Coal partnered with Caterpillar, Mincom and Trimble Navigation to install MineStar, a central dispatching system. MineStar relies on a global positioning system (GPS) to track and monitor the location of major mining equipment. The computer dispatcher can optimize equipment utilization by rerouting trucks before bottlenecks occur. With approximately a 10% efficiency improvement, the MineStar technology eliminated the need to acquire three 300-ton trucks for Black Thunder's fleet deferring $9 million in capital spending and resulting in an expense savings of roughly $3.6 million annually.
In addition, Arch Coal was awarded the CIO 100 based on its early adoption of reverse auctions. Through a partnership with Perfect Commerce/BayBuilders, Arch Coal's reverse auctions have further encouraged competitive pricing and proven exceptionally effective in procuring everything from oil filters to conveyer belts. Arch has conducted 30 auctions over the course of the last twenty-four months with savings ranging from 5-17% per auction. Estimated savings is in excess of $7 million.
According to CIO magazine, honorees of the 16th annual CIO awards were selected through a comprehensive three-step process from hundreds of applications. First, companies filled out an online application form. In addition, CIO editorial staff and members of its expert panel nominated companies they deemed best fit the award criteria. A team of CIO editors and writers reviewed the application forms and expert recommendations and voted on the final 100.
Arch Coal and Madison-based Alliant Energy were the only energy-related companies to receive the 2003 CIO 100 award. Complete coverage of the 2003 CIO 100 is available at www.cio.com.
About Arch Coal, Inc.
Arch Coal (NYSE: ACI) is the nation's second largest coal producer and mines low-sulfur coal exclusively. Through its subsidiary operations in West Virginia, Kentucky, Virginia, Wyoming, Colorado and Utah, Arch provides the fuel for approximately 6 percent of the electricity generated in the United States. In 2002, Arch Coal's revenues totaled $1.5 billion.
About CIO Magazine
CIO magazine (launched in 1987) is published by CXO Media Inc. CXO Media serves CIOs, CEOs, CFOs, COOs and other corporate officers who use technology to thrive and prosper in this new era of business. The company strives to enhance partnerships between C-level executives, as well as create opportunities for information technology (IT) and consumer marketers to reach them. In addition to publishing CIO and CSO magazines, CXO Media produces www.cio.com, The CIO Insider, www.darwinmagazine.com, and www.CSOonline.com as well as Executive Programs, a series of conferences that provide educational and networking opportunities for corporate and government leaders.
CXO Media Inc. is a subsidiary of IDG, the world's leading IT media, research and exposition company. IDG publishes more than 300 computer magazines and newspapers and 4,000 book titles and offers online users the largest network of technology-specific sites around the world through IDG.net (www.idg.net), which comprises more than 270 targeted Web sites in 70 countries. IDG is also a leading producer of 168 computer-related expositions worldwide and provides IT market analysis through 50 offices in 43 countries worldwide. Company information is available at www.idg.com.