INTRODUCTION OUR PLANET OUR SUPPLY CHAIN OUR PEOPLE OUR COMMUNITY ABOUT THE REPORT
GEARED FOR GROWTH In the 1970s the most popular foreign car brands were Volkswagen, Datsun, Fiat, Peugeot and Mercedes. Parts for these vehicles were only available from dealerships. Seeing a market opportunity, Parts Authority sourced parts from importers and opened a separate company in a di�erent location solely to supply foreign parts. This was another boon for Parts Authority’s customers, who made the company their �rst call for parts, coming from across the New York metro area. In the following years, recognizing underserved areas in the marketplace, Parts Authority established new locations throughout New York. Then, in 1996, the company took a transformative step by joining the Pronto Network, a buying group which helps its members grow their businesses by providing marketing programs and support to build customer loyalty. Through their association with Pronto they were able to o�er credit cards, tech support, free custom-built websites for customers, and rewards and travel programs. Parts Authority’s founders saw industry consolidation accelerating and were determined to control their destiny rather than become part of another company’s platform. Acknowledging that neither organic growth nor bank loans could adequately fuel an aggressive acquisition strategy, they engaged with capital partners who shared their vision and would help fund their growth. TALENT AND INNOVATION 50 th ANNIVERSARY OF PARTS AUTHORITY
More broadly, the company has sought continuously to attract and retain people who are eager to learn, grow and advance in their careers. Parts Authority continues to invest in training and development tools to help team members acquire new competencies, and it strives to provide opportunities to advance and contribute to the company’s success in new ways.
From its earliest days, Parts Authority has invested in and maintained a focus on the people who drive business success – its valued team members. For example, the company took steps to improve the counter professionals’ experience, by improving working conditions and building better facilities.
In addition to its focus on team member development, Parts Authority continuously invests in expanded levels of inventory in order to have more parts on hand for its customers. The company also invests in a spectrum of technologies, which include custom-made, inner-facing analytical software as well as a customer-facing parts catalog. This award-winning parts catalog has the most complete listing of parts, including OEM numbers. We re�ect with pride on our �rst 50 years and we are excited by the opportunities ahead for Parts Authority, its team members, its partners and the industry as a whole.
6 Sustainability Report 2023: The Composition of a Responsible Organization
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