Cummins Inc. recently honored five companies named as the Columbus, Ind.-based engine maker's first Diverse Suppliers of the Year. The companies, including three from Indiana, were honored at a dinner and trade show attended by top Cummins officials.
Chairman and CEO Tim Solso, vice chairman Joe Loughrey and president and COO Tom Linebarger were all in attendance. Solso pointed out that supplier diversity will be increasingly important as Cummins prepares for rapid growth over the next five years, entering new markets and developing new products.
"That means a lot of opportunities for our supply base," said Solso, who earlier this year doubled Cummins' goal to $1 billion in spending with minority-owned businesses by 2012. "We are very serious about what we are doing."
Four different businesses within Cummins, in addition to the company's indirect purchasing organization, named diverse suppliers of the year. Winners were chosen for their high quality goods and services, dedication to efficiency and cost cutting, and their commitment to public service.
The winning companies are:
Turbocam International, Barrington, N.H.
Cummins Turbo Technologies Diverse Supplier of the Year
Turbocam International provides Cummins with a variety of machining products.
LHP Software LLC, Columbus, Ind.
Cummins Indirect Purchasing Diverse Supplier of the Year
LHP Software has been a key partner as Cummins has increased the use of electronic controls in its engines.
MCM Industries Inc., Beachwood, Ohio
Cummins Filtration Diverse Supplier of the Year
MC Industries supplies Cummins with a number of products including bearings, roller chains, castings and springs.
Telamon Corp., Carmel, Ind.
Cummins Engine Business Diverse Supplier of the Year
Telamon provides Cummins with kitting, subassemblies and inventory management. The company is also involved in a logistics contract that is helping Cummins obtain significant savings in currency exchange and inventory related costs.
Columbus Components Group (CCG), Columbus, Ind.
Cummins Emission Solutions Diverse Supplier of the Year
CCG supplies complex stampings and welded assemblies.
According to the release, Cummins embraces supplier diversity for two primary reasons. First is to help diverse suppliers develop leads to greater competition for the company's business and ultimately lower prices and better service. Secondly, the initiative is designed to help build wealth throughout the communities where Cummins employees live and work.
Gordon Fykes, director of diversity procurement for Cummins, called the dinner and trade show a rousing success. "A lot of our top diverse suppliers got the chance to meet people from throughout the company," Fykes said. "I'm confident that will lead to good things in the future."