Visteon Chooses Ryder as Logistics Provider

17 October 2000

Visteon Chooses Ryder as Logistics Provider; Major Integrated Automotive Technology Supplier Awards North American Logistics Business to Ryder

    MIAMI--Oct. 17, 2000--Ryder System, Inc. , a global leader in logistics and transportation management solutions, today announced it has been selected by Visteon Corporation , the world's second-largest supplier of integrated automotive technology systems, to develop a transportation initiative to support Visteon's North American logistics needs.
    Under the contract, Ryder will establish a stand-alone core logistics, transportation and procurement organization to support Visteon's North American transportation needs. The services include transportation procurement pricing - leveraging transportation services through formalized market tests, spot buys, target pricing mechanisms and negotiating leveraged rates and service opportunities with carriers in accordance with Visteon requirements. Ryder will administer and maintain Visteon's carrier contracts to ensure enforcement of terms and timely negotiations, as well as monitor insurance levels in accordance with legal requirements and customer specifications.
    Additionally, Ryder will provide ongoing monitoring and analysis of carrier selection using detailed competitive information on carrier shipping programs and market conditions. Ryder will evaluate efficiency, reliability and cost in order to design and maintain an optimal external logistics network and to provide continual improvement of customer metrics and quality systems.
    "Ryder has developed a well-established and extensive carrier management information system that allows us to evaluate and leverage the best transportation buys to create maximum value for our customers," said Tom Jones, Ryder's senior vice president of Global Automotive, Industrial and Aerospace. "We are delighted to be working with an industry leader such as Visteon and look forward to an ongoing relationship that continues to foster innovative ideas and continuous improvement to its operations and bottom line."
    Utilizing an advanced software, Ryder's solution will provide a strategic support application designed to efficiently allocate Visteon's transportation requirements to a set of transportation carriers. Ryder will utilize its software to analyze, forecast and format transportation needs into a well-defined scope.