Magna is evaluating suppliers to streamline suppliers
The head of the purchasing department of Magna North America, the Canadian auto parts supplier, said on June 10 that due to the global financial crisis, Magna had suffered losses for two consecutive years. To this end, Magna North America has begun to streamline its supplier team with a view to improving the previously scattered procurement landscape and thus preparing Magna for global development. Paul Stroz, senior vice president of Magna North America, said: “We hope to find a group of suppliers with independent and innovative technologies. However, with the expansion of business, such as the electric vehicle market, we may need more supply. But then, if Magna's existing businesses and new businesses are steadily moving forward, we will still consider reducing the supplier pool to further optimize the procurement landscape." Currently, Magna North America is evaluating 400 suppliers in Michigan, Ohio, Ontario and Mexico. The assessment includes: the supplier's financial status, operational capabilities and its commercial strength. The assessment results will be submitted to all company departments for review. Paul Stroz said: "We are looking for first-class Canadian parts suppliers." It is reported that the company's early assessment results show that the United States Michigan and Ohio suppliers are at high risk of losing Magna's business, and Ontario, Canada and Mexico Suppliers are less at risk of losing Magna's business. In addition, Paul Stroz also stated that operational capabilities will mainly examine whether the supplier is reliable, whether there is a management advantage, and whether it has independent innovation technology. In addition, he revealed that in order to better develop Magna's business and strengthen mutual information exchange, the selected suppliers will have the opportunity to use the Magna standard global e-procurement system.
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