Capitalize on Borderless Business Practices to Drive Success, Freudenberg-NOK President & CEO Urges
TRAVERSE CITY, Mich., Aug. 10 /PRNewswire/ -- To be successful in today's flat and fast world, auto suppliers must recognize and accept no limits, time zones or market barriers, said Dr. Mohsen Sohi, president and chief executive officer of Freudenberg-NOK, in a presentation here today at the Management Briefing Seminars. To be successful, companies must adopt and adapt to different ways of thinking, and be open to areas that were once considered borders, he said. In his speech, "Beyond Here There Be Dragons," Sohi shared his view of a rapidly expanding global business perspective. He urged suppliers to look past their traditional views, to a new level of global cooperation. As a company that maintains a strong global balance, Freudenberg-NOK has attempted to develop and maintain a seamless flow of technology, while coordinating a level of superior service to customers throughout the world. Sohi noted that while some may protest the globalization of business, globalization can help enhance trade and help disparities in socioeconomic levels around the world. Talking about today's new world, Sohi said: "It's one where markets, such as China and India, that were previously valued exclusively for their low cost of labor, are now seen as emerged markets that are sources of demand." This concept, he explained, takes a world perspective to economic activity and will ultimately raise the standard of living. While recognizing the value of emerging markets, Sohi also suggests that executives need to conduct a better analysis of where labor fits as a component of the product total cost. Sohi reflected upon a similar situation in which one of Freudenberg-NOK's production facilities was faced with significant issues related to cost. He said the solution for the organization was not to move production overseas, but to adopt lean manufacturing disciplines and improve lead time, delivery and as a result, customer satisfaction. "Although we have made significant strides in the quality of our products," he said, "it's a combination of several factors, including a global perspective on where we do business, a leadership position in the development and introduction of technology, maintaining a strong position on cost, productivity and quality, that have made our impact in the industry." He concluded his presentation by stressing the need to bring down barriers through not only technology but also cultural mindsets. Specifically, he summarized: "Multiculturalism and openness wins over insulation and isolation." Founded in 1989, Freudenberg-NOK General Partnership is a joint venture between Freudenberg & Co. of Germany and NOK Corp. of Japan. Freudenberg-NOK is a leader in automotive sealing and noise, vibration and harshness (NVH) products and is a supplier to all automakers producing in North America, as well as all major tier one chassis and drivetrain suppliers. The company's headquarters and technical center in Plymouth, Mich. houses the most extensive supplier-operated sealing and noise and vibration testing facility in North America. Freudenberg-NOK offers its automotive customers globally integrated products, including sealing packages for transmissions, engines, brakes, axles and steering, NVH components and packages, and all rubber, plastic and PTFE (polytetrafluoroethylene) components for suspension, electrical and fuel systems. The company also offers an extensive portfolio of special precision seals for the aerospace, appliance, diesel engine, marine, medical, off-highway equipment, oil and gas, recreational vehicle and semiconductor markets. For more information, visit the Freudenberg-NOK website at http://www.freudenberg-nok.com .
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