NOVI, Mich.—Cooper Standard is transitioning its purchasing organization to "a global commodity structure" as part of an effort launched earlier this year to realign its manufacturing, engineering and innovation.
The company will manage the procurement of 34 commodities into four groups including plastics, rubber, metals and all others, supported by dedicated global buyers, Cooper Standard said.
With an annual direct commodity and equipment budget of more than $2 billion, the new organization will remain under the direction of Susan Kampe, senior vice president, chief information and procurement officer.
The move, according to CEO and chairman Jeffrey Edwards, is part of the company's bid to have a "fully integrated global structure."
The restructuring, he said, will better align priorities between manufacturing, engineering and purchasing, and will reduce complexity and improve overall performance.
"A global commodity purchasing organization will build deeper experience and relationships in each commodity area," Edwards added.
In addition, Cooper Standard said that it was investing in digital and artificial intelligence (AI) tools to provide the new organization with real-time analytics in order to add further opportunities for improvement and innovation.