Mevotech Inc. was recently honored with the Polk Inventory Efficiency Award in the Manufacturer Category, at the Global Automotive Aftermarket Symposium (GAAS) held earlier this month in Chicago.
“On behalf of Mevotech, we are pleased to receive this prestigious award from Polk, and it is a validation to the hard work of our employees,” said Ezer Mevorach, president of Mevotech. “We’re humbled to join previously honored industry leaders and serve as a role model for others striving to better their inventory efficiency practices.”
The Polk Inventory Efficiency Award is given to aftermarket companies for process improvements in supply chain and inventory efficiency.
A significant factor for Mevotech in improving efficiency has been its Excellence in Inventory Strategy (EXIST) program to address the issues of limited warehouse space and maintaining accurate inventory. The program manages the product lifecycle from engineering through the supply chain and ultimately to the customer.
Mevotech’s EXIST program has provided a substantial business and parts business impact. The company sais this inventory strategy decreased order turn times by nearly 60 percent, increased fill rates by 7 percentage points and improved product time-to-market. EXIST also reduced warehouse inventory by 20 percent and increased inventory accuracy by 10 percentage points.