Penske Logistics Recognized by Eaton for Supplier Excellence
READING, Pa., April 22, 2008 - Diversified industrial manufacturer Eaton Corporation recently honored 42 of its best suppliers at its third annual Supplier Awards Program on April 1 at the downtown Cleveland Marriott.
Among the top award winners was Penske Logistics, which received the Premier Supplier Excellence Award for the second consecutive year from Eaton for logistics management services in North America and Europe. Penske was honored for a host of achievements including its innovation in crosscontinent supply chain engineering, on-time delivery, responsiveness, and overall cost savings.
Richard D. Holder, Vice President - Eaton Business System, said, "Of the thousands of Eaton suppliers around the world these are the best in terms of quality, productivity, innovation and technology."
The Eaton supplier award winners fall within one of three supplier categories: Direct, Indirect or Logistics. Direct Materials suppliers are those which provide goods used directly in the making of products (i.e., bearings, gaskets, seals, castings); Indirect Materials and Services suppliers provide goods used to make products or support the business (i.e., cutting fluid, maintenance repair, office supplies) and Logistics suppliers handle the transportation of goods inbound from the supplier and outbound to customers, as well as indirect package transportation.
"We are pleased to once again be recognized by Eaton," stated Vincent Hartnett, President - Penske Logistics. "We take great pride in helping our customers drive supply chain excellence. We share this award with our associates around the globe, who work hard every day to deliver value for our customers."
Penske Logistics serves as Eaton's Lead Logistics Provider in Europe for all business segments; serves as Lead Logistics Provider for Eaton's Auto, Truck and Electrical businesses in the U.S. and Mexico, and also operates a warehouse for Eaton's Electrical business in North Carolina.