The evolving landscape
With novel technology developing at an unprecedented rate, the automotive industry is set to see a major transformation in the next 5 years over the past 50. Customer needs and demands are being restructured with mammoth leaps in propulsion technology and infrastructure. This is also reshaping manufacturing techniques, new mobility business models, all growing interconnected in a digital ecosystem within the Indian landscape.
These large scale changes will prove to be your best bet in developing and maintaining competitive advantage. Whether you are a start-up looking to get a foothold or a company looking to scale up, becoming an intelligent enterprise is necessary. More importantly, this allows companies to leverage data-driven insights and drive new revenue opportunities.
With ride sharing, autonomous driving, connected vehicles, and electrification becoming the new norm, Indian automotive manufacturers need to figure out novel methods of generating revenue. These trends are reshaping the mobility experience and have to be taken into account while exploring the connected nature of the autonomous vehicle for revenue options. With large volumes of data generated by Indian consumers, intelligent and intuitive technologies are required to decipher it. Machine learning and the Internet of Things (IoT) will drive personalization of mobility and optimize customer interactions.
An enterprise looking to evolve builds its strategy around the needs of its customers. A customer’s experience isn’t just relegated to the automotive buying experience, but encompasses the entire lifecycle of the relationship. Improving the relationship provides insights for strategy, strengthens brand loyalty, and promotes customer retention.
With seismic changes coming this way, the scope of disruption in the Indian automotive landscape is enormous. Startups aggressively vying for global market shares, are looking to pole-vault over legacy companies. Simultaneously, established players are increasing their investments to maintain the competitive edge. In today’s scenario, harnessing data, IoT, and machine learning is no longer an option, but a strategic imperative.
The Indian automotive sector must be equipped to meet changing demands while maintaining profit. Manufacturing and by extension, mobility hardware supply chains will need to transform. Intelligent technologies with real-time supply chain planning features enable responding to changing market expectations. For example, using the power of blockchain, tracking various parts, their status and location can be shared in real-time using service parts software. This enables transparency, offers visibility, and streamlines processing across the entire supply network.
SAP S/4HANA, an intelligent ERP, forms a digital core resulting in a streamlined enterprise. Any intelligent ERP solution should be capable of consistent evolution to realize next-generation business processes. These solutions must be expanded to include emerging technologies such as machine learning, blockchain, and IoT. With this as the base, innovative business services and applications can be created. Automotive firms that want to stay relevant and prefer to be early adopters have already begun this journey; while some giants invested in innovating themselves.
What is your organization doing today to stay in the competition tomorrow?
itelligence is an SAP Platinum Partner, capable of optimizing your manufacturing processes. Would you like more detailed advice from our experts or would you like to book one of our manufacturing workshops? Feel free to get in touch if you need any information.