_____________________________________________________________________________________________ Supply chain
uncertainty and reduced mobility and in the last two years there has been a significant move to the development of electric vehicles . This has caused automakers to adjust their production schedules and reduce capacity . However , as the global economy recovers and mobility returns to pre-pandemic levels , there are signs of increasing demand for new cars , which is driving the industry ’ s recovery . To meet this demand , we are working closely with automotive manufacturers across Europe , focusing on localizing supply and shortening supply chains to strengthen them , with more accurate production forecasting playing a critical role . By accurately predicting customer demand , automakers can adjust their production schedules and optimize their ( and our ) inventory levels , ensuring we can meet demand without overstocking . This can help reduce costs , improve operational efficiency , and ensure that customers receive the vehicles they want in a timely manner .
Long-term success
One way automakers are improving their customer demand forecasting is by leveraging data analytics and artificial intelligence ( AI ) tools . By analyzing historical sales data and other relevant information , these tools can identify trends and patterns that can inform demand forecasts . They can also adjust these forecasts in real-time based on changes in market conditions , such as shifts in consumer preferences or supply chain disruptions .
Another way automakers are improving their supply chain operations is by adopting new technologies such as blockchain and the Internet of Things ( IoT ). These technologies can help automate supply chain processes , reduce errors , and improve transparency , enabling automakers to better track their inventory levels and monitor their supply chain partners ’ performance . This can help reduce the risk of delays and disruptions and ensure that automakers can deliver vehicles to customers on time .
Moreover , automakers are also focusing on developing more sustainable and environmentally friendly supply chain practices . This includes reducing their carbon footprint by using renewable energy sources in their manufacturing processes and logistics operations , working with Tier 1 suppliers such as us to on-shore component production and subassembly as well as promoting sustainable materials and recycling practices . By adopting these practices , automakers can improve their reputation with customers who are increasingly conscious of the environmental impact of their purchasing decisions .
In conclusion , while the automotive industry has faced significant challenges in recent times , there are green shoots of recovery as the industry adapts to the new normal and seeks to improve its operations . Improvements in customer demand forecasting , driven by data analytics and AI tools , are playing a critical role in this recovery . By accurately predicting customer demand and optimizing their supply chain operations , automakers can reduce costs , improve operational efficiency , and ensure that customers receive the vehicles they want in a timely manner . Additionally , by adopting new technologies , sustainable practices and working closely with us to build shorter , more robust supply chains , automotive OEMs can further improve their supply chain operations and position themselves for long-term success . ■
Kevin Hubbard www . evtec-automotive . com
Kevin Hubbard is MD at Evtec Automotive , a UK-based group , that focuses on every aspect of the electric vehicle supply chain and the endto-end lifecycle of EVs . Its mission is to source , make , deliver and then sustainably dispose of all EV technologies , driving social change and the adoption of zero-emission vehicles .
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