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    Getting a Lock on Sarbanes-Oxley Compliance

    in Channel News and Analysis


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    Single-vendor approach works for Master Lock.

    When it comes to the Sarbanes-Oxley act of 2002, the key to compliance at Master Lock Co. is integrated systems. Master Lock, the world's largest padlock maker, sells more than 50 million padlocks a year. The Milwaukee-based company is a subsidiary of Fortune Brands Inc., in Lincolnshire, Ill.

    While many companies struggle with the documentation requirements of the act, Master Lock had a head start because of the company's ISO-compliant status. The International Standards Organization requires that corporations document quality management and process control systems to gain certification at manufacturing sites.

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    "ISO is as big or an even bigger documentation effort than Sarbanes-Oxley, so we had a lot of Sarbanes-Oxley taken care of from a documentation standpoint," said Richard Kolaczewski, vice president of finance and IS at Master Lock. "We rolled off of our ISO projects in 2001 and 2002 and went straight into Sarbanes-Oxley, which worked out perfectly for us."

    In the mid-1990s, Master Lock decided to tear out its antiquated supply chain systems and launch a massive project to expand its supply chain globally while standardizing its front- and back-end systems on Oracle Corp.'s E-Business Suite 11i. Master Lock is currently running Oracle's Entry, Receivables, Inventory, General Ledger, Manufacturing, Procurement and Fixed Assets applications.

    To read the full story, click here.





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