29 September 2009 | Allie Anderson
Electronics giant Siemens honoured its best three suppliers at an awards ceremony last week.
Engineering firm BIS Gas Turbine Systems, which has worked with the Siemens energy division since 2002, won the first prize at the inaugural event.
The company, based in Germany, fulfilled quality, pricing and reliability criteria, and judges were impressed by its ability to respond to the "specific needs of customers in various countries". In addition, it has a vast regional supplier network, which helps Siemens increase its long-term foothold in emerging markets.
The other two accolades went to Swiss semiconductor manufacturer STMicroelectronics for "most innovative supplier" and US hearing aid firm Knowles Electronics for "global value sourcing".
Siemens CPO Barbara Kux said the awards recognised "partners who have helped us reach the market better and faster".
The awards ceremony took place at Siemens' first annual supplier forum, where the firm and its top 30 suppliers discussed how best to work together to maintain profitability.
In April, Siemens unveiled plans to slash its 100,000 suppliers by 20 per cent (Web news, 29 April) and work "even more closely with its most important suppliers".
It also aims to increase the buying power of its centralised procurement function by 60 per cent, from €12 billion (£11 billion) to €19 billion by 2010.