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Bosch Named Most Admired Automotive Parts Supplier By Fortune Magazine

This is the second consecutive year that Bosch has been recognized as the most admired automotive supplier. The company was ranked fifth among the "most admired" German companies included in the survey, and 15th among all companies outside the U.S.

Shop Owner Staff
By Shop Owner Staff
Published:

Bosch has been named the world’s “most admired motor vehicle parts supplier” by Fortune magazine in its 2013 list.

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This is the second consecutive year that Bosch has been recognized as the most admired automotive supplier. The company was ranked fifth among the “most admired” German companies included in the survey, and 15th among all companies outside the U.S.

Regarded as one of the most prominent surveys of company reputation since its launch in 1997, Fortune’s “World’s Most Admired Companies” list recognizes companies worldwide based on feedback from business professionals in a wide range of industries. The companies are ranked according to the location of their headquarters.

Bosch ranked first on all nine of Fortune’s reputation criteria within the motor vehicle parts supplier category. The criteria include innovation, people management, use of assets, social responsibility, management quality, financial soundness, long-term investment, quality of products and service and global competitiveness. Executives, directors and analysts were surveyed at 687 companies in 57 industries and 30 countries to determine the most admired companies.

Regarded as one of the most prominent surveys of company reputation since its launch in 1997, Fortune’s “World’s Most Admired Companies” list recognizes companies worldwide based on feedback from business professionals in a wide range of industries. The companies are ranked according to the location of their headquarters.

“Fortune’s recognition of our company is a testament to our associates’ achievements," said Dr. Volkmar Denner, chairman of the board of management of Robert Bosch GmbH. "They are dedicated to maintaining exceptional customer service and to developing innovative products and services that fascinate and improve quality of life for people around the world. We are honored to be included in this list of successful companies.”

To view the full list go to http://money.cnn.com/magazines/fortune/most-admired and select "All Companies" from the dropdown menu.

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The True Cost Of Comebacks

Comebacks are a hot topic today. You need to track all comebacks, determine the reason (tech error, part error, training issue, other) and then calculate the true cost of the comeback.

Shop Owner Staff
By Shop Owner Staff
Published:

By Joe Marconi of Elite
Comebacks are a hot topic today. You need to track
all comebacks, determine the reason (tech error, part error, training issue,
other) and then calculate the true cost of the comeback.
Here are a few things to consider:
• The loss of time when performing the comeback; time that the tech can use to
perform other work and generate profit;
• The misc costs, such as overhead costs, supplies, cleaners, etc.;
• Towing costs, rental, etc.;
• Cost to morale;
• Reputation damage; and
• Reduction to your profit margin.
For every part issue, you need to
inform your supplier. Sit down with suppliers on a regular basis. Don’t return defective
parts until you have listed the parts, and maintain a report. Document
everything.
Part issues are increasing. Every shop
owner I speak to is frustrated over this.
Remember, comebacks kill your bottom
line. The more comebacks you have, the more they’re killing your profits.
This article was contributed by Joe Marconi.
Joe is one of the 1-on-1 business coaches who helps shop owners through
the Elite Coaching Program, and is the
co-founder of autoshopowner.com.

Read Full Article

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