Recognized for Minority Business Enterprise (MBE) Development Efforts in Supplier Diversity Program
MIAMI — Ryder System, Inc. (NYSE:R), a leader in transportation and supply chain management solutions, today announced that it has earned special recognition from Toyota Motor Engineering & Manufacturing North America Inc. (TEMA) at its annual supplier business meetings (ABM) on March 13. Held at the Northern Kentucky Convention Center in Covington, ABM brings together approximately 900 attendees from across North America.
“We pride ourselves on our high level of operational execution and supply chain expertise built by Ryder over the past eight decades,” said Richard (Dick) J. Jennings, Vice President and General Manager of Automotive, Aerospace and Industrials for Ryder Supply Chain Solutions. “Our success would not be possible without the valuable contributions of our diverse suppliers who help us maximize innovation, growth, competitiveness and excellence in customer satisfaction. We are grateful to Toyota for this recognition of our progress with our Supplier Diversity Program and for a relationship that continues to flourish after 23 years.”
ABM allows TEMA to discuss business objectives with direct and indirect suppliers in preparation for its upcoming fiscal year. Every year, TEMA recognizes suppliers who exceeded the company’s expectations in several categories.
“Toyota works closely with each supplier partner in order to build our top quality vehicles,” stated Robert Young, TEMA’s purchasing vice president. “This event emphasizes our suppliers’ commitment to flexibility and continuous improvement. This allows Toyota to focus on building safe and reliable products.”
In the U.S. alone, there are about 50,000 supplier jobs dedicated to Toyota across more than 30 states. In addition, Toyota collectively spent nearly $25 billion on parts, goods and services last year in North America.
Ryder provides Toyota with logistics support that includes pick-up and delivery of service parts to Toyota’s service parts logistics network throughout the U.S., Canada, and Mexico.
Ryder is a FORTUNE 500® commercial transportation, logistics and supply chain management solutions company. Ryder’s stock (NYSE:R) is a component of the Dow Jones Transportation Average and the Standard & Poor’s 500 Index. Inbound Logistics magazine has recognized Ryder as a top third party logistics provider and included Ryder in its 2011 and 2010 “Green Partners” listing. Ryder has also been ranked two years in a row as one of the top 250 U.S. companies in the Newsweek Green Rankings. In addition, Security Magazine has named Ryder one of the top companies for security practices in the transportation, logistics, supply chain, and warehousing sector. Ryder is a proud member of the American Red Cross Annual Disaster Giving Program, supporting national and local disaster preparedness and response efforts. For more information, visit www.ryder.com and follow us on Facebook, YouTube, and Twitter.
Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Source: Ryder System, Inc.