Taking the top spot in our round-up of the top stories of the week is our recent Executive Interview with ACDelco’s Nancy McLean. In the interview, McLean, who serves as director, ACDelco and Wholesale Marketing, talks about the renewed commitment the brand has received from General Motors after the automaker considered selling ACDelco a mere two years ago. She also provides more detail on the company’s current marketing strategy and the launch of the new ACDelco Advantage product portfolio.
In the manufacturing segment, Michigan-based Hastings Manufacturing Co. this week made a number of new executive appointments. Richard Zwiernikowski, CFO, will assume the position of vice president of finance and administration, managing the production control and purchasing functions in addition to his current responsibilities. Jeffrey Guenther has been promoted to vice president, international sales. Thomas DeBlasis has been promoted to vice president, domestic aftermarket sales. David Sepesi has been promoted to vice president, OEM sales. And, Edward Webb has been promoted to director of distribution operations. Each of these individuals will report to President and CEO Fred Cook.
In other manufacturing news, Wells Manufacturing this week announced the launch of the new Wells Vehicle Electronics brand. The brand is part of an extensive program designed to communicate Wells’ position as a market-leading, technology driven manufacturer that offers premium-quality repair solutions for virtually any passenger vehicle. The new brand will represent the company’s comprehensive offering of advanced ignition, emissions, fuel system, engine management and other components for the automotive replacement parts and service industry. As part of the launch, the company is introducing a new logo and trade dress, print and electronic catalogs, an all-new website and a variety of other resources to help customers grow their sales in the vehicle electronics category.
Speaking at a recent press event, Kelly Dier, president of Marmon Highway Technologies, told members of the media that he believes manufacturing that has been outsourced to China and other countries with low labor rates will return to North America over the next 20 years, driven by rising logistics costs (fuel in particular) and the need for tighter supply chains. Dier said he believes that although railroads will experience an increase in domestic freight tonnage over the next 10 years, trucks will continue to handle the majority of freight volume. Additionally, he predicted that diesel fuel prices will soar, hitting the $6 to $7 range within the next five years. As a result, he said, North American companies will have to manufacture and source materials much closer to home to control logistics costs.
The final item in our recap of the week’s top news comes from Advance Auto Parts, which has selected PrimeRevenue’s Supply Chain Finance (SCF) Platform to bolster its working capital management initiatives. Through PrimeRevenue’s multi-bank SCF platform, suppliers will gain online visibility into their Advance Auto Parts receivables well ahead of their due date. In addition, suppliers will have access to on-demand financing and can choose to receive early payment on their invoices, according to Advance. Supply Chain Finance is an important component of the company’s action plan to reduce working capital, increase cash flow and improve supply chain efficiency.
