Global uncertainties, price wars, and the pandemic have resulted in a new operational and technological challenge as well as lucrative opportunities for the automotive sector. Key Automotive players have adopted digital technologies across their processes from product design, procurement, supply chain, right up to sales and marketing. Multiple automotive companies have consistently augmented their digital capabilities through re-structuring, creating digitalization business units, while others are partnering, taking part in acquisitions, and forming joint ventures, creating a more resilient business. . Information Management renders multiple benefits for manufacturers, right from an increase in productivity to automation, leading to shorter wait times to market while the customers enjoy the privilege of a personalized mobility experience. The rapid increase in the global need for industries to be sustainable and responsible has been the driving force behind the digitalization of supply chains. A strong example of this is the supply chain of cobalt for automotive batteries, wherein manufacturers use digital tools to ensure that they are devoid of unsustainable and unethical mining practices. Technologies like blockchain and smart contracts are further being adapted to meet this goal of traceability and transparency.
Benefits of digital transformation to the Automotive Industry:
According to a survey, only 9% of Automotive industry players have been using automation before the pandemic. However, nearly 52% of the companies working traditionally are on the path of digital transformation. Owing to pandemic and market shutdowns, the need for remote working has grown substantially, boosting demand for an efficient system to handle supply chain operations such as logistics, fleet management, etc. remotely. These operations are difficult to manage off ground; thus, their efficiency plays a key role.
WHAT THIS WHITEPAPER OFFERS:
An insight into the automotive industry which faces a paradigm shift with AI-powered and data-driven operations across businesses, including sales and marketing, production, supply chain, and post-sales services. It’s imperative that the industry will accelerate the digital transformation with a clear vision of integrated systems solutions, data management, and analytics. These create value from data. Multiple technologies, such as advanced robotics, automation, machine vision, IoT, data management & analytics will enhance operations throughout the value chain.
Author Name: Nitish P.