Yesterday at the 2007 GAAS in Chicago, R. L. Polk & Co. named Dayco Products LLC and NAPA Auto Parts as the winners of the 2007 Polk Inventory Efficiency Awards today. The Polk Inventory Efficiency Award recognizes and rewards outstanding aftermarket companies for process improvements relative to inventory efficiency.
In the Manufacturer category, Tulsa, OK-based Dayco Products, LLC, was recognized for its achievements in implementing data and technology standards across its entire enterprise resulting in significant reductions in inventory and vastly improved fill rates. The award was accepted by Dennis Welvaert, president of Dayco's North American Aftermarket Division.
In the Retailer / Distributor category, Atlanta-based NAPA Auto Parts received the honors for creating a best-in-class inventory classification system aimed at making daily stock adjustments in company stores that led to substantial increases in top-line revenues and provided an exceptional return on investment. Larry Samuelson, president of U.S. Automotive Parts Group accepted the award on the company's behalf.
"Both NAPA and Dayco demonstrated an outstanding commitment to improving their inventory efficiency," said Mike Gingell, vice president of Strategic Markets at Polk. "Their efforts not only impacted their companies, but everyone in the distribution channel down to the end user. Congratulations to both companies for their achievements."
The awards were presented by Kathleen Schmatz, president and CEO of the Automotive Aftermarket Industry Association (AAIA), Steve Handschuh, president and COO of the Automotive Aftermarket Suppliers Association (AASA) and Stephen Polk, chairman, president and CEO of R. L. Polk & Co.
In addition to receiving the Polk Inventory Efficiency Award, both companies received the honor of having a $1,000 donation given in their name by Polk to the Global Aftermarket Scholarship fund which assists students who are looking to begin their career in the automotive aftermarket.