Canzlog is a consolidated log management function that was added as part of NetView V6.1. Canzlog has been popular with quite a few customers as a method of managing multiple log streams in a consolidated manner. It's a nice facility, and worth taking a look at.
Dale Carter of Bank of America) and Tom Howe of IBM did a presentation on "Canzlog in NetView for z/OS 6.1: User Experience".
Here's a link to the presentation: