ATLANTA, March 22,
2023 /PRNewswire/ -- Genuine Parts Company
(NYSE: GPC) announced today that it has selected Google Cloud as
the innovation partner to support its business transformation and
further improve the customer experience.
GPC will utilize Google Cloud's full spectrum of services to
modernize digital, store, supply chain and advanced data and
analytics platforms to deliver an enhanced customer experience and
increase speed to market of customer facing capabilities.
The company expects to leverage Google Cloud offerings to
optimize the technology infrastructure supporting over 10,000
stores and fulfillment centers globally. Advanced data and
analytics platforms will also enable supply chain modernization
around inventory visibility, facility productivity and
logistics.
"As we invest in technology to modernize our business
capabilities and strengthen the foundations for operational
excellence and profitable growth, we couldn't be more pleased than
to partner with Google Cloud," said Naveen
Krishna, Executive Vice President and Chief Information and
Digital Officer, GPC. "Google Cloud will play a critical role in
accelerating our business transformation and innovation."
"We're honored to be chosen as Genuine Parts Company's
innovation partner, helping enable the company's next phase of
growth and expansion," said Jose
Gomes, Managing Director, Retail and Consumer, Google Cloud.
"Google Cloud's technology will support the industry leader's
efforts to execute new supply chain initiatives, enhance sales
effectiveness, improve the digital customer experience, and so much
more."
About Genuine Parts Company
Founded in 1928, Genuine
Parts Company is a global service organization engaged in the
distribution of automotive and industrial replacement parts. The
company's Automotive Parts Group distributes automotive replacement
parts in the U.S., Canada,
Mexico, Australasia, France, the United
Kingdom, Ireland,
Germany, Poland, the
Netherlands, Belgium,
Spain and Portugal. The company's Industrial Parts Group
distributes industrial replacement parts in the U.S., Canada, Mexico and Australasia. In total, the company
serves its global customers from an extensive network of more than
10,000 locations in 17 countries and has approximately 58,000
employees. Further information is available at www.genpt.com.
Forward Looking Statements
Some statements in this
release, as well as in materials the company files with the
Securities and Exchange Commission (SEC), release to the public or
make available on the company's website, constitute forward-looking
statements that are subject to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. All statements in
the future tense and all statements accompanied by words such as
"expect," "likely," "outlook," "forecast," "preliminary," "would,"
"could," "should," "position," "will," "project," "intend," "plan,"
"on track," "anticipate," "to come," "may," "possible," "assume,"
or similar expressions are intended to identify such
forward-looking statements. These forward-looking statements
include information about the company's Investor Day, and the
established full-year 2023 and 2025 financial guidance for the
company provided above. Senior officers may also make verbal
statements to analysts, investors, the media and others that are
forward-looking.
The company cautions that all forward-looking statements involve
risks and uncertainties, and while the company believes that its
expectations for the future are reasonable in view of currently
available information, you are cautioned not to place undue
reliance on our forward-looking statements. Actual results or
events may differ materially from those indicated as a result of
various important factors. Such factors may include, among other
things, changes in general economic conditions, including
unemployment, inflation (including the impact of tariffs) or
deflation and geopolitical conflicts such as the conflict between
Russia and Ukraine; volatility in oil prices; significant
cost increases, such as rising fuel and freight expenses; public
health emergencies such as the COVID-19 pandemic, including the
effects on the financial health of our business partners and
customers, on supply chains and our suppliers, on vehicle miles
driven as well as other metrics that affect our business, and on
access to capital and liquidity provided by the financial and
capital markets; our ability to maintain compliance with our debt
covenants; our ability to successfully integrate acquired
businesses into our operations and to realize the anticipated
synergies and benefits; our ability to successfully implement our
business initiatives in our two business segments; slowing demand
for our products; the ability to maintain favorable supplier
arrangements and relationships; changes in national and
international legislation or government regulations or policies,
including changes to import tariffs, environmental and social
policy, infrastructure programs and privacy legislation, and their
impact to us, our suppliers and customers; changes in tax policies;
volatile exchange rates; our ability to successfully attract and
retain employees in the current labor market; uncertain credit
markets and other macroeconomic conditions; competitive product,
service and pricing pressures; failure or weakness in our
disclosure controls and procedures and internal controls over
financial reporting, including as a result of the work from home
environment; the uncertainties and costs of litigation; disruptions
caused by a failure or breach of our information systems, as well
as other risks and uncertainties discussed in the company's Annual
Report on Form 10-K for 2022 and from time to time in the company's
subsequent filings with the SEC.
Forward-looking statements speak only as of the date they are
made, and the company undertakes no duty to update any
forward-looking statements except as required by law. You are
advised, however, to review any further disclosures we make on
related subjects in our subsequent Forms 10-K, 10-Q, 8-K and other
reports filed with the SEC.
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SOURCE Genuine Parts Company