Ryder Receives Innovation Award from Toyota

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Ryder System, Inc. (NYSE: R) honored by Toyota North America with the 'Innovation Award for Over-the-Road Transportation Provider Supporting Manufacturing Operations' at the Toyota 2023 Annual Supplier Conference in Grapevine, Texas. The award recognizes Ryder's significant improvements in supply chain capability, efficiency, and cost savings through transformational Kaizen initiatives. Ryder has been working with Toyota for 36 years, providing over-the-road transportation, cross-border transportation, border-crossing administration, free trade zone consolidation, cross docks, plant yard management, and in-plant third-party logistics and engineering support.

Honored for driving significant improvements in supply chain capability, efficiency, and cost

MIAMI--(BUSINESS WIRE)-- Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions, announces Toyota North America has honored Ryder with its “Innovation Award for Over-the-Road Transportation Provider Supporting Manufacturing Operations” during the recent Toyota 2023 Annual Supplier Conference in Grapevine, Texas.

Ryder was honored with an innovation award during the recent Toyota 2023 Annual Supplier Conference in Grapevine, Texas. Pictured left to right (front row): Frank Bateman, Ryder vice president of supply chain solutions; Tom Regan, Ryder senior vice president of supply chain solutions. Pictured left to right (back row): Jenny Dyer, Toyota senior manager of operations sourcing; Jeff Estes, Toyota general manager of parts supply chain operations; Karen Ideno, Toyota group vice president of ESG investing and indirect procurement; Bonnie Clinton, Toyota vice president and chief purchasing officer for indirect procurement; Jason Lynch, Toyota general manager of indirect procurement; and Steve Brown, Toyota vice president of part supply chain planning. (Photo: Business Wire)

Toyota recognized Ryder for the number of transformational Kaizen initiatives, a Japanese term for continuous improvement, that Ryder proactively pursued on Toyota’s behalf. Among them were increased yard-cost savings, operational enhancements to improve customs compliance, and best practices for process improvement and problem-solving – all of which significantly impacted supply chain capability, efficiency, and cost savings.

“We’ve been working with Toyota for 36 years as one team focused on continuous improvement to drive efficiencies in the supply chain while keeping service levels high,” says Steve Sensing, president of supply chain solutions for Ryder. “This recognition is a testament to the relationship that our teams have built over nearly four decades, and we look forward to many more.”

Over the years, Ryder has won multiple awards for meeting Toyota’s highest standards for innovation, quality, delivery, performance, cost savings, value improvement for parts and materials, performance in distribution and warehousing, strategic management, quality engineering and safety leadership, diversity, and minority sourcing program development.

Ryder supports Toyota manufacturing locations across North America with over-the-road transportation in the United States and cross-border transportation between the U.S., Mexico, and Canada; border-crossing administration; free trade zone consolidation; cross docks in Mexico; plant yard management and shunting; and in-plant third-party logistics and engineering support.

For more than 55 years, Ryder has served the automotive industry, implementing the first large-scale just-in-time supply delivery system in North America.

About Ryder System, Inc.

Ryder System, Inc. (NYSE: R) is a leading logistics and transportation company. It provides supply chain, dedicated transportation, and fleet management solutions, including warehousing and distribution, e-commerce fulfillment, last-mile delivery, managed transportation, professional drivers, freight brokerage, full-service leasing, maintenance, commercial truck rental, and used vehicle sales to some of the world’s most-recognized brands. Ryder provides services throughout the United States, Mexico, and Canada. In addition, Ryder manages nearly 260,000 commercial vehicles and operates approximately 300 warehouses encompassing more than 95 million square feet. Ryder is regularly recognized for its industry-leading practices in third-party logistics, technology-driven innovations, commercial vehicle maintenance, environmental stewardship, corporate social responsibility, world-class safety and security programs, military veteran recruitment initiatives, and the hiring of a diverse workforce. www.ryder.com

Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20230717347637/en/

Anne Hendricks, amhendricks@ryder.com

Amy Federman, afederman@ryder.com

Source: Ryder System, Inc.

FAQ

What award did Ryder receive at the Toyota 2023 Annual Supplier Conference?

Ryder received the 'Innovation Award for Over-the-Road Transportation Provider Supporting Manufacturing Operations'.

What kind of initiatives did Ryder pursue on Toyota's behalf?

Ryder pursued transformational Kaizen initiatives, focusing on continuous improvement, increased yard-cost savings, operational enhancements, and best practices for process improvement and problem-solving.

How long has Ryder been working with Toyota?

Ryder has been working with Toyota for 36 years.

What kind of support does Ryder provide to Toyota manufacturing locations?

Ryder provides over-the-road transportation, cross-border transportation, border-crossing administration, free trade zone consolidation, cross docks, plant yard management, and in-plant third-party logistics and engineering support to Toyota manufacturing locations across North America.

What is the significance of the award for Ryder and Toyota's relationship?

The award is a testament to the relationship that Ryder and Toyota have built over nearly four decades, focused on continuous improvement to drive efficiencies in the supply chain while keeping service levels high.