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Creating and Selling an Automotive Product With Infor CloudSuite and Infor Supply Chain Management Solutions
Creating and Selling an Automotive Product With Infor CloudSuite and Infor Supply Chain Management Solutions
Creating and selling an automotive product requires a complex network of companies, processes, and people.automotive product Visibility across that network is critical to understanding where everything is, what it’s doing, and when it’s expected to arrive. It’s also key to managing risks, improving efficiency, and enhancing customer satisfaction. Infor CloudSuite Automotive and Infor automotive supply chain management solutions deliver that visibility to help companies make sense of their complex, interconnected, and rapidly changing supply chains.
The automotive industry is incredibly competitive.automotive product Vehicle manufacturers are resource constrained, and each project must meet a competitive level of return to remain viable. If not, capital will flow to other opportunities that offer a similar level of return. Over time, this may lead to shorter platform and powertrain product development life cycles, which can increase the risk of stranded investment capital if technology costs rise in response to regulatory requirements or market forces.
In order to minimize these risks, automakers must maximize the efficiency of their development resources.automotive product One way to do this is by minimizing the number of physical prototypes required for testing. Testing can take anywhere from a few months to several years, depending on the complexity of the vehicle and the test procedures. This process is costly and inefficient, but can be overcome by streamlining the design and review of components as well as accelerating the production of the necessary tooling. Using efficient modeling, virtual prototyping, and soft-tooling (using polymer molds instead of metal dies) can cut testing times by half or more.
Another major cost is the manufacturing of the component parts that go into a vehicle.automotive product Many of these components are made from raw materials such as steel or aluminum, which can be expensive to manufacture and transport. This expense is further impacted by the volatility of commodity prices, currency rates, and other external market factors. To mitigate these risks, automakers must manage supply base performance closely and work closely with suppliers to ensure that the required raw materials are available when needed.
To reduce manufacturing costs, the automotive industry has worked to streamline the production of component parts.automotive product This has been done by reducing the amount of physical prototypes that are used for testing, increasing the use of software simulation and virtual prototyping, and by accelerating the development cycle. For example, China’s new EV-focused OEMs have reduced the time from concept to launch to 24 months1 including platform development—more than twice as fast as legacy automakers.
Even the smallest components are crucial to keeping vehicles running smoothly and safely. For example, rubber and sealing products such as hoses, gaskets, and O-rings play a huge role in absorbing vibration, reducing noise, and preventing leaks throughout the entire vehicle. They also serve to seal fluids, protect against corrosive chemicals, and provide abrasion resistance. As a result, the global market for these products is valued at more than $374 billion and growing.
