2012 Polk Inventory Efficiency Award Recipients Honored At Global Automotive Aftermarket Symposium

2012 Polk Inventory Efficiency Award Recipients Honored At Global Automotive Aftermarket Symposium

Awards presented to The Timken Co. (pictured) and Aftermarket Auto Parts Alliance Inc.

CHICAGO – Polk honored The Timken Co. and Aftermarket Auto Parts Alliance Inc. with the 2012 Polk Inventory Efficiency Awards during a ceremony held yesterday during the Global Automotive Aftermarket Symposium (GAAS) in Chicago.
timken was named this year's recipient in the manufacturer category. The Polk Inventory Efficiency Award program, now in its eighth year, recognizes and rewards outstanding aftermarket companies for process improvements in supply chain and inventory efficiency. This year’s awards were presented by Mark Seng, vice president, aftermarket and commercial vehicle and Polk’s global aftermarket practice leader, and Stephen Polk, chairman, president and CEO of R. L. Polk & Co.
"We are pleased to recognize the great work of Timken and Aftermarket Auto Parts Alliance in this year’s program," said Seng. "Their contributions and success in driving industry-leading inventory management and supply chain practices within their businesses serve as a powerful example for others in the automotive aftermarket community."
Aftermarket Auto Parts Alliance received the award in the Distributor Retailer Category. The Timken Co., based in Canton, Ohio, was recognized in the Manufacturer category. The company recently implemented a new enterprise resource planning (ERP) system in the U.S. that improved its supply chain efficiencies, including inventory planning, shipping performance, fill rates and customer satisfaction. At the same time, Timken improved its warehouse management system and logistics management operations, fully leveraging its investment in technology. The implementation and integration program increased year-over-year sales by 19 percent, while reducing inventory by 12 percent and increased order fill rates by 13 percentage points.
The new ERP system technology enabled Timken to implement category management processes to proactively identify and address strategic and forward-looking business opportunities, which in turn allowed distributors to capitalize on local market sales opportunities. As a result, Timken was able to leverage this solution across its customer base and added 134 new customers in 2011. Based on the success of the implementation, Timken is currently working to expand its availability to customers and Timken locations outside of the U.S.
"On behalf of the entire team at Timken, we are pleased to receive this prestigious award from Polk," said Tom Tecklenburg, director, global aftermarket, The Timken Co. "The dedicated work on this program has allowed us to provide customers with added technology and resources that guide their inventory levels, resulting in better mix and reduced returns."
Aftermarket Auto Parts Alliance was recognized by Polk in the Retailer/Distributor category. The Alliance, representing 53 individually owned warehouse distributors in the U.S., conducts business in the aftermarket under the Auto Value and Bumper to Bumper brands.

The Alliance implemented a solution that successfully centralized and synchronized several different data sources to enhance inventory management decision-making processes. The Alliance developed applications that leverage the master database to benefit all Alliance group members. A key example is the Inventory Optimization Tool, which members use to simultaneously right-size inventories, increase turns, enhance order fulfillment, and improve sales and working capital.
Concurrently, the Alliance developed Supplies, Accessories and Tools, a catalog that operates as a portal in tandem with aftermarket application eCatalogs and within third-party point-of-sale platforms to enable jobber and technician look-ups of non-application parts.
Results of these programs include an organic sales increase of 4.7 percent vs. control group and $38 million of inventory being redeployed to other geographic markets or replaced with faster-turning merchandise.
"We are grateful to Polk for recognizing the Alliance with the Inventory Efficiency Award," said John Washbish, president and CEO, Aftermarket Auto Parts Alliance, Inc. "We’re honored to join other industry leaders and serve as a role model for others considering best practices in inventory efficiency."
The Polk Inventory Efficiency Award was established in 2005 to recognize outstanding aftermarket companies for process improvements to inventory and supply chain efficiency. Award submissions were reviewed by a selection committee comprised of aftermarket industry leaders, not affiliated with Polk or any of the nominated companies. Winners were selected anonymously based on a set of criteria agreed upon by the judging committee.
Applications are currently being accepted for the 2013 Polk Inventory Efficiency Awards program. For more information, and to see video segments produced highlighting the winning practices from Timken and the Aftermarket Auto Parts Alliance, visit: https://www.polk.com/company/inventory_efficiency_awards/all_winners

You May Also Like

Meet the January ‘Guess the Car’ Champion: Jake Myers

The correct answer for the January contest was the Toyota C-HR.

Every month, Counterman’s “Guess the Car” contest challenges our readers to solve an automotive riddle, for a chance to win $100. And each month, we receive hundreds of responses from aftermarket professionals trying to guess the model of the vehicle depicted.

The correct answer for the January contest was the Toyota C-HR. (The illustration showed a man approaching a door with the letters “HR” on it.)

AACF Applications Increase 90 Percent in Wake of Wildfires

The Camp Fire destroyed 14,000 residences, displaced thousands and left more than 80 dead and hundreds missing.

wildfire, Camp Fire
Purolator Launches Summer Mail-in Rebate Promotion for Air Filters

The promotion will run through Aug. 31 for all Purolator air and cabin air filters.

Epicor To Demonstrate Augmented Reality eCatalog At AAPEX In Las Vegas

This “Catalog of the Future” enables users to perform inspections, visualize parts and labor information and order replacement components from the service bay, the company says.

Continental Expands Popular Asian, European And Domestic Coverage For VDO Brushless HVAC Motors

The company has added more than 30 new SKUs to its VDO Brushless HVAC Motors line, expanding the company’s coverage to include Audi, Cadillac, Chevrolet, Dodge, Ford, Infiniti, Lexus, and Toyota automobiles and light trucks for model years 2011-’17.

Other Posts

OttoFran And Vast-Auto Family Hold 2017 Annual Convention

The Vast-Auto and OttoFran marketing and sales team held various workshops during which the latest market information, the new banners programs, marketing campaigns and the action plan for 2017-2018 were presented.

Streamlight Introduces Rechargeable KeyMate USB Flashlight

With an off/off button for constant operation, the KeyMate USB has three modes: high (35 lumens); low (16); and strobe (flashes at high lumen level). Featuring LED technology for extreme brightness, the light provides a run time of one hour on high and two hours in both the low and strobe modes.

All-New Ford Expedition Redefines Full-Size SUVs with Adaptable Interior, Smart Technology for Every Occupant

DALLAS–(BUSINESS WIRE)–For today’s active families, Ford introduces the all-new Expedition – the smartest, most capable and most adaptable Expedition ever – with technology to keep every passenger connected, more power for drivers, and more expected towing capability than any other full-size SUV. Related Articles – Coil Conversion Kit For 2001-’05 Audi A6 And Audi allroad

Coil Conversion Kit For 2001-’05 Audi A6 And Audi allroad Quattro

For ride quality, the kit includes new custom-valved, application-specific shock absorbers. The Audi front coil spring assemblies include new upper mounts, Arnott says.