A shared data analytics program between Tenneco Inc. and Parts Warehouse Inc. (PWI), focused on inventory and sales optimization of Monroe ride control components, garnered the first-ever Automotive Aftermarket Suppliers Association (AASA) Channel Excellence Award presented by Epicor. Joe Pase, IT executive director, Tenneco, and Fletcher Lord III, PWI vice president, accepted the award in a ceremony today at the 2019 AASA Vision Conference in Dearborn, Michigan.
The AASA Channel Excellence Award was established to both recognize innovation and to encourage collaboration between suppliers and valued channel partners to drive aftermarket growth. Suppliers are innovators and the drivers of new technologies, but greater achievements are possible when suppliers and channel partners develop new products and new ways of getting the right part to the right place at the right time.
The Tenneco/PWI initiative began in April 2018, when Tenneco analysts noted that PWI’s strut assembly sales were under indexing against market demand in its service areas. Tenneco sales representatives and members of its data analytics team met with PWI leaders to propose a collaborative inventory analysis and repositioning to grow PWI’s share of the strut assembly category, reduce lost sales and improve margin performance. The project involved extensive use of shared data analytics and was completed in August 2018.
“Upon implementation of the resulting stocking strategies, PWI immediately experienced significant, sustained improvements in out-the-door sales, average unit sale, inventory turns and market share,” Lord said. “We’re very proud to have our joint efforts with Tenneco recognized with this AASA award.”
“We relied on Tenneco’s category expertise and proprietary market intelligence combined with an uncommon depth of insight provided by PWI and the Alliance headquarters team,” Pase commented. “We commend AASA for establishing this award and promoting future efforts such as this in our industry.”
The Tenneco/PWI project was one of three joint initiatives by automotive aftermarket companies selected as award finalists. The other finalists were: Brake Parts Inc/Genuine Parts Co. and Gates Corp./XL Parts. Short videos submitted by all the AASA Channel Excellence finalists were played today at the 2019 AASA Vision Conference and will soon be posted on the AASA website.
“We congratulate Tenneco, PWI and all the finalists for their outstanding projects and driving innovation in our industry,” said Bill Long, president and CEO of the Motor & Equipment Manufacturers Association (MEMA) and president and COO of AASA, MEMA’s light vehicle aftermarket division. “We look forward to the Channel Excellence Award continuing to grow and inspire further innovation and teamwork in our industry.”
“It has been an honor for us to work with AASA this year in developing the Channel Excellence award,” said Scott Thompson, senior vice president, automotive and business services, Epicor. “Epicor is proud of its role in encouraging and rewarding collaborative initiatives that benefit participants throughout the aftermarket value chain.”
The 2019 AASA Channel Excellence Award Selection Committee included:
Rod Bayless, senior director, Industry Data Analytics, Epicor
Brian Cruickshank, director, University of the Aftermarket – Northwood University
Chris Gardner, senior vice president, AASA
Rick Guirlinger, partner, Schwartz Advisors
Tony Molla, vice president, Automotive Service Association (ASA)
Joe Pomaranski, president, Pomaranski Consulting