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Oracle said it plans to release a new software program in May designed to reduce the aviation industry's spare-parts inventory costs by billions of dollars.

The Redwood Shores, Calif., company said it will announce the initial release of the product, called Oracle Complex Maintenance, Repair and Overhaul (MRO), on Tuesday. The software is supposed to help aircraft manufacturers and airline operators manage the maintenance of planes more efficiently with applications for tracking and scheduling aircraft repairs.

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