Manufacturing Industry
GM unveils cost-cutting plan for suppliers.(INDUSTRY NEWSLINE)
Industrial Maintenance & Plant Operation, October, 2005
General Motors Corp. presented its suppliers a new plan last month that sets cost-cutting targets for individual parts instead of requiring suppliers to meet overall corporate cost-cutting goals. An Associated Press report said the shift came about partly in response to supplier complaints that overall goals unfairly penalized companies who were meeting GM targets for their own parts. The plan is to take effect during the fourth quarter of this year, and run through 2007.
Under the new program, which is similar to programs in place at Toyota and Honda, a supplier that makes three or four separate parts for GM will have a cost-cutting target for each part based on the cost of raw materials and other factors. GM, which has been struggling with poor sales and...
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