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Thursday, December 04, 2008
Thursday, December 04, 2008
Latest Procurement News
Posted: Friday, August 15, 2008, 10:24AM
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KNOWLEDGE MANAGEMENT TAGS
"Supplier Relationship Management", "Risk Management"
Risk tops agenda as automotive suppliers feel the pinch
Suppliers are becoming increasingly wary of dealing with three of the world's biggest carmakers, amid concerns of financial meltdown within the automotive industry in the US.General Motors, Ford Motor and Chrysler have all suffered huge losses in 2008 and Michael Robinet, a vicepresident at US consultancy CSM Worldwide, told the FT that suppliers were being "more selective about what they supply."
"Volume for volume's sake is not what it used to be," he added.
Suppliers have been left reeling by high raw material costs and a slump in production volumes.
The chief executive of one manufacturer has already revealed that his company would no longer take on long-term business with Chrysler without credit insurance.
Consultancy Grant Thornton, last week revealed that a third of all North American automotive suppliers were at risk of bankruptcy
"Every week it seems there's another supplier in some form of financial stress," said Tom LaSorda, vice-chairman, Chrysler.
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