The automotive industry is currently one of the largest industries globally. It is anticipated to grow and evolve for the foreseeable future with imminent resurgence. According to IBIS World, the market size of the global car and automobile manufacturing industry will increase by 2.5% this year alone.
Automotive manufacturers mass-produce an array of products and parts that make up today’s motor vehicles. Depending on the size and the engineering design of its systems, the average motor vehicle contains between 15,000 to 25,000 parts. This means automotive manufacturers have a lot to deal with, from procuring raw materials and supply chain management to assembly lines and plant optimization.
The advent of the Industrial Revolution 4.0 (IR 4.0) is, however, stirring up considerable change and uncertainties for automotive manufacturers, plaguing them with challenges that must be addressed if they hope to remain relevant. As emerging players make giant strides in the automotive manufacturing industry, incumbent original equipment manufacturers (OEMs) are facing intimidating competition from a variety of directions.
The challenges that these manufacturers face come from within the organization itself as well as externally. Innovations in manufacturing, changing consumer demands, and new disruptions immensely impact the vehicle supply chain network. Both internal as well as external factors require automotive manufacturers to reduce costs, optimize manufacturing processes and distribution, and guarantee that parts and products get to the right place at the right time.
Failing to beat these internal and external challenges could be detrimental to the outcome of the manufacturing business and may lose out to incumbents who are much more nimble and well-prepared to face industry adversities. Below are some of the challenges that automotive manufacturers are facing today:
Benefits of a robust business solution for automotive manufacturers
One of the best ways to overcome these challenges is with the implementation of a robust cloud-based business solution to help automotive manufacturing businesses increase their agility, heighten operational management, and enhance scalability.
With disruptive changes propelling automotive manufacturers to adjust nearly all components of their business, modern business solutions have become essential within the industry, and implementing them has become mission-critical for manufacturing businesses. According to Straits Research, the automotive software market size is projected to reach USD 57.68 Billion by 2030, growing at a CAGR of 14.8%. Benefits of a modern cloud-based business solution include:
annata365- Tailored to the needs of automotive manufacturers
When it comes to establishing a business solution, automotive manufacturers need functionality that allows them to adapt and pivot seamlessly, enabling them to introduce and integrate new technologies into operational frameworks.
annata365 is an agile cloud-based management solution that is specifically designed for manufacturers in the digital age. Built on top of Microsoft Dynamics 365, together with Annata’s years of industrial experience, the solution intuitively and thoroughly covers all key business processes, managing devices’ lifecycles from the cradle to the grave.
As manufacturers endeavor to gain competitive advantage through a digital-first approach, Annata’s quick-to-deploy solution offers new technology that adds agility, intelligence, and efficiency throughout the manufacturing cycle. annata365 equips automotive manufacturers with functionalities that are needed to manage the end-to-end process.
Key highlights of annata365 for automotive manufacturers
- Efficient business process integration: Full integration of all key business processes driven by industry-specific needs, developed by experts.
- Clear overview of data: Presents a 360° view of all vehicle data through enhanced supply chain visibility, IoT, and AI-enabled monitoring and tracking with powerful business analytics to derive value and provide insights from big data.
- Increased business transparency: Implement open-book management practices that increase communication, foster accountability, and provide better customer interactions and experiences.
Find out more about the tactical business functionalities of annata365 by downloading our brochure. Alternatively, contact us today to speak with one of our Annata representatives.
