Meritor's Suppliers recorded an increase in sales by 14.33 % year on year in Q3 2022, sequentially sales grew by 3.75 %, Meritor recorded an increase in cost of sales by 19.68 % year on year, sequentially cost of sales grew by 4.03 % in Q3.
Meritor's Suppliers recorded an increase in sales by 14.33 % year on year in Q3 2022, sequentially sales grew by 3.75 %, Meritor recorded increase in cost of sales by 19.68 % year on year, sequentially cost of sales grew by 4.03 % in Q3.
Our purchases of raw materials and parts are concentrated over a limited number
of suppliers. We are dependent upon our suppliers ability to meet cost performance,
quality specifications and delivery schedules. The inability of a supplier to
meet these requirements, the loss of a significant supplier, or work stoppages,
could have an adverse effect on our ability to meet our customers delivery requirements.
The cost of our core products is susceptible to changes in overall steel commodity
prices, including ingredients used for various grades of steel. We have generally
structured our major steel supplier and customer contracts to absorb and pass
on normal index-related market fluctuations in steel prices. While we have had
steel pricing adjustment programs in place with most major OEMs, the price adjustment
programs tend to lag behind the movement in steel costs and have generally not
contemplated non-steel index related increases.
Significant future volatility in the commodity markets or a deterioration in
product demand may require us to pursue customer increases through surcharges
or other pricing arrangements. In addition, if suppliers are inadequate for
our needs, or if prices remain at current levels or increase and we are unable
to either pass these prices to our customer base or otherwise mitigate the costs,
our operating results could be further adversely affected.
We continuously work to address these competitive challenges by reducing costs
and, as needed, restructuring operations. We manage supplier risk by conducting
periodic assessments for all major suppliers and more frequent rigorous assessments
of high-risk suppliers. On an ongoing basis, we monitor third party financial
statements, conduct surveys through supplier questionnaires, and conduct site
visits. We have developed a chronic supplier improvement process where we identify
and develop actions to address ongoing financial, quality and delivery issues
to further mitigate potential risk. We are proactive in managing our supplier
relationships to avoid supply disruption. Our process employs dual sourcing
and resourcing trigger points that cause us to take aggressive actions and then
monitor the progress closely.
Meritor's Comment on Supply Chain
Our purchases of raw materials and parts are concentrated over a limited number
of suppliers. We are dependent upon our suppliers ability to meet cost performance,
quality specifications and delivery schedules. The inability of a supplier to
meet these requirements, the loss of a significant supplier, or work stoppages,
could have an adverse effect on our ability to meet our customers delivery requirements.
The cost of our core products is susceptible to changes in overall steel commodity
prices, including ingredients used for various grades of steel. We have generally
structured our major steel supplier and customer contracts to absorb and pass
on normal index-related market fluctuations in steel prices. While we have had
steel pricing adjustment programs in place with most major OEMs, the price adjustment
programs tend to lag behind the movement in steel costs and have generally not
contemplated non-steel index related increases.
Significant future volatility in the commodity markets or a deterioration in
product demand may require us to pursue customer increases through surcharges
or other pricing arrangements. In addition, if suppliers are inadequate for
our needs, or if prices remain at current levels or increase and we are unable
to either pass these prices to our customer base or otherwise mitigate the costs,
our operating results could be further adversely affected.
We continuously work to address these competitive challenges by reducing costs
and, as needed, restructuring operations. We manage supplier risk by conducting
periodic assessments for all major suppliers and more frequent rigorous assessments
of high-risk suppliers. On an ongoing basis, we monitor third party financial
statements, conduct surveys through supplier questionnaires, and conduct site
visits. We have developed a chronic supplier improvement process where we identify
and develop actions to address ongoing financial, quality and delivery issues
to further mitigate potential risk. We are proactive in managing our supplier
relationships to avoid supply disruption. Our process employs dual sourcing
and resourcing trigger points that cause us to take aggressive actions and then
monitor the progress closely.
MTOR's Suppliers recorded a net loss
Suppliers recorded net loss
MTOR's Suppliers recorded a net loss
Suppliers recorded net loss
Meritor's Suppliers Sales Growth
in Q3 2022 by Industry
Sources:
Meritor Inc.'s official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
Updated on:
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