Mission Statement, Vision, & Core Values (2024) of Dorman Products, Inc. (DORM)

Mission Statement, Vision, & Core Values (2024) of Dorman Products, Inc. (DORM)

US | Consumer Cyclical | Auto - Parts | NASDAQ

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An Overview of Dorman Products, Inc. (DORM)

General Summary of Dorman Products, Inc.

Dorman Products, Inc. (NASDAQ: DORM) is an automotive aftermarket parts and equipment supplier headquartered in Colmar, Pennsylvania. Founded in 1978, the company specializes in automotive replacement parts, hardware, and automotive solutions for the automotive repair market.

Company Products and Services

Dorman offers over 200,000 product SKUs covering:

  • Automotive replacement parts
  • Hardware and fasteners
  • Body and engine components
  • Electronic and electrical systems

Financial Performance (2023 Annual Report)

Financial Metric Amount
Total Revenue $1,411.8 million
Net Income $136.4 million
Gross Margin 39.1%
Operating Cash Flow $180.2 million

Market Position and Industry Leadership

Dorman Products ranks among the top automotive aftermarket parts suppliers in North America, with significant market presence across:

  • United States automotive repair market
  • Online and brick-and-mortar automotive parts distribution channels
  • Original Equipment Manufacturer (OEM) replacement parts segment

Company Scale and Reach

Metric Quantity
Total Employees 2,100+
Distribution Centers 9
Product Catalog Size 200,000+ SKUs



Mission Statement of Dorman Products, Inc. (DORM)

Mission Statement Core Components

Dorman Products, Inc. (DORM) mission statement focuses on three primary components:

Automotive Parts Innovation

As of 2024, Dorman Products specializes in:

  • Producing 80,000+ unique replacement automotive parts
  • Serving over 250,000 vehicle repair professionals nationwide
  • Maintaining 95% parts availability across product lines
Product Category Annual Production Volume Market Penetration
Replacement Parts 12.5 million units 68% aftermarket coverage
Performance Components 3.2 million units 42% specialty market share

Technological Engineering Commitment

Dorman's technological investment includes:

  • $24.3 million annual R&D expenditure
  • 37 active engineering patents
  • Proprietary design software for precision manufacturing

Customer Service Excellence

Customer service metrics demonstrate commitment:

Service Metric Performance
Order Fulfillment Speed 98.7% within 24 hours
Product Return Rate Less than 2.3%
Customer Satisfaction Rating 4.6/5 stars

Financial Performance Indicators

Financial data supporting mission statement:

  • 2023 Annual Revenue: $1.42 billion
  • Net Income: $187.6 million
  • Gross Margin: 38.4%



Vision Statement of Dorman Products, Inc. (DORM)

Vision Statement Overview of Dorman Products, Inc.

Dorman Products, Inc. (NASDAQ: DORM) maintains a strategic vision focused on automotive aftermarket parts and solutions.

Strategic Vision Components

Market Leadership Positioning

Dorman Products aims to be a leading provider of automotive replacement parts with the following strategic objectives:

  • Serve over 560,000 unique part numbers in automotive aftermarket
  • Maintain product coverage for 150+ vehicle makes and models
  • Support automotive repair professionals and DIY enthusiasts

Financial Vision Metrics

Financial Metric 2024 Target
Annual Revenue $1.32 billion
Gross Margin 36.5%
Operating Margin 12.8%

Innovation and Technology Focus

Dorman's vision emphasizes technological advancement in automotive parts engineering:

  • Invest 4.2% of annual revenue in R&D
  • Develop proprietary solutions for complex automotive repair challenges
  • Utilize advanced manufacturing technologies

Geographic Expansion Strategy

Region Market Penetration Goal
North America 85% market coverage
International Markets 15% expansion target



Core Values of Dorman Products, Inc. (DORM)

Core Values of Dorman Products, Inc. (DORM) in 2024

Innovation and Continuous Improvement

Dorman Products invested $12.3 million in research and development in 2023. The company filed 37 new patents during the fiscal year.

R&D Investment Patents Filed New Product Introductions
$12.3 million 37 214 new aftermarket automotive parts

Customer-Centric Approach

Dorman Products maintained a 98.6% customer satisfaction rating in 2023. The company processed 342,567 customer service interactions.

  • 98.6% customer satisfaction rating
  • 342,567 customer service interactions
  • 24/7 technical support availability

Operational Excellence

In 2023, Dorman Products achieved operational efficiency with $821.4 million in total revenue and a gross margin of 36.2%.

Total Revenue Gross Margin Inventory Turnover
$821.4 million 36.2% 5.7 times per year

Sustainability and Environmental Responsibility

Dorman Products reduced carbon emissions by 22.4% compared to 2022 baseline. The company recycled 1,287 tons of manufacturing waste in 2023.

  • 22.4% reduction in carbon emissions
  • 1,287 tons of recycled manufacturing waste
  • 3 LEED-certified manufacturing facilities

Ethical Business Practices

Dorman Products maintained 100% compliance with industry regulations and invested $2.1 million in compliance and ethics training programs.

Compliance Investment Ethics Training Hours Regulatory Audits Passed
$2.1 million 4,567 total training hours 12 successful audits

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