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Ford Offers Cash for Cost-Saving Ideas

Ford Offers Cash for Cost-Saving Ideas

Thursday, January 31, 2002
 
As part of its wide-ranging efforts to accomplish a global turnaround, Ford Motor Co. has begun offering cash awards to North American suppliers that come forward with cost-cutting ideas. Ford will gather ideas into a database and send 300 of its engineers into the field to meet with its 2000 direct suppliers. For any ideas that survive the testing stage and find their into production, Ford will cut a check to the supplier that initiated the idea equal to 35 percent of the expected cost savings. Ford expects the plan to shave some $3 billion off of its $50 billion annual production-parts costs.

 

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