Flex named 2023 Manufacturer of the Year

Rhea-AI Summary

Flex (NASDAQ: FLEX) wins the 2023 Manufacturer of the Year award for its innovative and sustainable manufacturing practices. The company also received two Manufacturing in 2030 awards for its Supply Chain Joint Risk Management program and Supplier Greenhouse Gas Emissions Reduction program.

Positive

• Flex's recognition for innovation and sustainability showcases its leadership in the manufacturing industry, enhancing its reputation and potentially attracting more investors.
• The awards demonstrate Flex's commitment to advanced manufacturing services, digital technologies, and sustainability initiatives, positioning the company as a leader in future-forward solutions.
• Flex's dedication to reducing greenhouse gas emissions and promoting sustainability within its supply chain aligns with global efforts to combat climate change, potentially enhancing its corporate social responsibility image.

Negative

• None.

Manufacturing Leadership Council and National Association of Manufacturers award Flex for innovation and leadership across manufacturing technology, supply chain, and sustainability initiatives

AUSTIN, Texas, July 17, 2023 /PRNewswire/ -- Recognized for its best-in-class achievement and transformational leadership to drive a new era of advanced, sustainable manufacturing, Flex (NASDAQ: FLEX) was named the 2023 Manufacturer of the Year for a large enterprise.  The Manufacturing Leadership Council and National Association of Manufacturers presented Flex with the award at the recent Manufacturing Leadership Awards gala. This award is given to the company demonstrating significant scale in the deployment of digital technologies in manufacturing.

"We are honored to receive this prestigious Manufacturer of the Year award," said Hooi Tan, President of Global Operations and Supply Chain, Flex. "Our team is focused on providing our customers with advanced manufacturing services and solutions that are optimized for efficiency, flexibility and scale. The people who work in our factories in 30 countries are the ones who really deserve this recognition. It's their collective hard work that made this exceptional achievement possible."

In addition to the Manufacturer of the Year award, Flex also received two Manufacturing in 2030 awards. These awards are given to companies creating future-forward solutions that serve as innovative examples to other manufacturers. Flex's Supply Chain Joint Risk Management program and Supplier Greenhouse Gas Emissions Reduction program were both honored, and are the latest examples of the company's culture of innovation.

Flex's digital supply chain platform called Joint Risk Management (JRM) creates quantifiable visibility into potential supply chain risks for a product early in the product life cycle. Through an automated report and suggested mitigation plans, Flex is able to partner with customers to design resiliency into a product before it is manufactured.

To help accelerate sustainability beyond the company's walls and throughout the value chain, Flex committed that 50% of its preferred suppliers will set greenhouse gas (GHG) emissions reduction targets by 2025 and 100% of preferred suppliers by 2030. To support this goal, Flex launched a Supplier GHG emissions reduction program in partnership with preferred suppliers and CDP. Flex kicked off the program in 2021, inviting 500 preferred suppliers to participate, and within the first year, 60% of the preferred suppliers publicly disclosed operational emissions through CDP, 29% publicly disclosed GHG emissions reduction targets, and 7% had a renewable energy target.

About Flex
Flex (Reg. No. 199002645H) is the manufacturing partner of choice that helps a diverse customer base design and build products that improve the world. Through the collective strength of a global workforce across 30 countries and responsible, sustainable operations, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets.

-MLC-
Founded in 2008 and now a division of the National Association of Manufacturers, the Manufacturing Leadership Council's mission is to help manufacturing companies transition to the digital model of manufacturing by focusing on the technological, organizational and leadership dimensions of change. With more than 2,500 senior-level members from many of the world's leading manufacturing companies, the MLC focuses on the intersection of advanced digital technologies and the business, identifying growth and improvement opportunities in the operation, organization and leadership of manufacturing enterprises as they pursue their journeys to Manufacturing 4.0.

-NAM-
The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.90 trillion to the U.S. economy annually and accounts for 55% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org.

Contacts

Media & Press
Mark Plungy
Director, Corporate Integrated Communications
(408) 442-1691
Mark.Plungy@flex.com 

Investors & Analysts
David Rubin
Vice President, Investor Relations
(408) 577-4632
David.Rubin@flex.com

 

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SOURCE Flex

FAQ

What award did Flex win in 2023?

Flex (NASDAQ: FLEX) won the 2023 Manufacturer of the Year award for its innovative and sustainable manufacturing practices.

What are the two additional awards Flex received?

Flex also received two Manufacturing in 2030 awards for its Supply Chain Joint Risk Management program and Supplier Greenhouse Gas Emissions Reduction program.

What is Flex's Supplier GHG emissions reduction program?

Flex's Supplier GHG emissions reduction program aims to have 50% of its preferred suppliers set greenhouse gas emissions reduction targets by 2025 and 100% by 2030, with the company partnering with preferred suppliers and CDP to achieve this goal.