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Published on June 18, 2014 @ 11:00am EST

Auto makers, suppliers must cultivate strong relationships

Car makers need suppliers like flowers need bees. It's a way of life. Without suppliers that original equipment manufacturers can count on, the automotive industry could not exist. Major OEMs such as Chrysler Group L.L.C., Ford Motor Co. and Toyota Motor Corp. estimate at least 70 percent of their cost structures go to outsourced parts.

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