MAUMEE, Ohio, Nov. 17, 2020 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) announced today that it is the first company in the United States and the first automotive supplier globally to achieve the Chartered Institute of Procurement & Supply (CIPS) Procurement Excellence Program's Standard award for its purchasing policies, processes, and procedures.
The recognition of the Standard award is the result of an in-depth assessment of Dana's procurement practices and supply-chain operations by an independent third-party against internationally respected standards. The assessment focuses on five key areas, including leadership and organization, strategy and policy, people, processes and systems, and performance management.
"Dana is built on a culture of continuous improvement, and benchmarking our purchasing activities against other global companies helps to ensure that we leverage industry best practices to the benefit of Dana and our customers," said Craig Price, senior vice president of purchasing and supplier development. "This recognition from CIPS demonstrates our continued commitment to the ethical, efficient, and sustainable sourcing of materials and services."
The Standard award is given to companies who have demonstrated robust, effective governance for assurance and compliance in its supply chain.
Bill Michels, vice president of CIPS Americas said, "Big congratulations to our colleagues at Dana for their sterling efforts in making the grade for the Procurement Excellence Programme award. It is not an easy route to take a good hard look at procurement processes from beginning to end, develop skills and talent and ensure that responsible and ethical procurement is high on the agenda. But I hope they continue with their journey with us to continually improve and demonstrate their commitment to world-class procurement."
More than 300 organizations globally have participated in the program, and the Standard certification is valid for a two-year period.
About Dana Incorporated
Dana is a world leader in providing power-conveyance and energy-management solutions that are engineered to improve the efficiency, performance, and sustainability of light vehicles, commercial vehicles, and off-highway equipment. Enabling the propulsion of conventional, hybrid, and electric-powered vehicles, Dana equips its customers with critical drive and motion systems; electrodynamic technologies; and thermal, sealing, and digital solutions.
Based in Maumee, Ohio, USA, the company reported sales of $8.6 billion in 2019 with 36,000 associates in 34 countries across six continents. Founded in 1904, Dana has a high-performance culture that focuses on its people and has earned recognition by Forbes magazine as a World's Best Employer. Learn more at dana.com.