ZF Plans to Restructure Supplier Relationships to Sharply Reduce Suppliers

ZF Friedrichshafen AG has stated that in order to save costs, the company will reorganize its procurement of raw materials for production.

According to ZF CEO Stefan Sommer, “In order to meet strong customer demands, we must invest huge sums of money in the construction of new factories and production facilities. These huge expenditures have caused tremendous pressure on us. These pressures will also be moderately transferred to suppliers."

ZF plans to increase its sales to 20 billion euros by 2015. In order to achieve this goal, ZF plans to reduce the number of suppliers significantly, thus achieving a cost savings of 500 million euros in the next two years.

Stefan Sommer added: “When we select suppliers in the future, we will pay more attention to its global measures. When we restructure supplier relationships, we will also significantly reduce the number of suppliers.”

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