Novi, Michigan – Cooper Standard is transitioning its purchasing organisation to "a global commodity structure" as part of a programme launched earlier this year to realign its manufacturing, engineering and innovation.
The company will manage the procurement of 34 commodities into four groups including plastics, rubber, metals and all others, supported by dedicated global buyers, the parts manufacturer announced 22 Aug.
With an annual direct commodity and equipment spend of more than $2 billion (€1.8 billion), the new organisation will remain under the direction of Susan Kampe, senior vice president, chief information and procurement officer.
The move, according to CEO and chairman Jeffrey Edwards, is part of the company’s bid to have a “fully integrated global structure."
The restructuring, he said, will ‘better align’ priorities between manufacturing, engineering and purchasing and reduce complexity and improve overall performance.
"A global commodity purchasing organisation will build deeper experience and relationships in each commodity area,” Edwards added.
In addition, Cooper Standard said that it was investing in digital and artificial intelligence (AI) tools to provide the new organisation with real-time analytics in order to add further opportunities for improvement and innovation.