Automotive & IndustrialUltra-low Cost Sensors enabling Digital Twins for smarter vehicles, production & process automization
A globally complex automotive supply chain impacted by shortages
Automotive supply chain is one of the most complex, multi-tiered, globally distributed ecosystems, bringing together over 20,000 components to build a vehicle. Orders cannot be completed if parts and raw materials are missing. The pandemic-provoked chip shortages and supply chain disruptions led to 40% cut in vehicle production at industry leaders like Volkswagen and Toyota. Automakers will end up with $150 billion losses in 2021 in increased parts and materials cost, that is, $2000 per vehicle. This has brought to light the many issues in the automotive supply chain that had been percolating under the surface:
- Lack of end-to-end visibility across the supply chain
- Outdated IT systems that prevent a free flow of information
- Lack of trust between manufacturers and their suppliers
A $1.1 Trillion automotive components opportunity
Automotive OEMs visibility is limited to the tier 1 suppliers. As Gartner puts it: “The chip shortage makes it essential for supply chain leaders to extend the supply chain visibility beyond the supplier to the silicon level.” 81% of the automotive industry is concerned about supply chain visibility partly due to the industry’s ‘just-in-time’ operations. Automakers maintain only needed amount of inventory and any kind of supply chain disruption can cause delayed production and significant losses, as witnessed during the pandemic.
Additionally, the automotive industry is prone to liabilities since product failure can lead to significant injury and harm, making it crucial to trace components through all the stages of the supply chain to be able to identify the source of the issue. Regulatory focus on emission and pollution has also shifted the attention to the use of lightweight and rare components that are harder to source, requiring a steady supply of parts.
Benefits with Asynos
Holistic solution partner to manage "Internet-of-Things" in Automotive at unprecedented cost efficiency in hardware and software with a turnkey solution provider. Our B2B(2C)-service focuses on cost savings along the customer value chain and additional revenue-streams through added-services through our platform:
- Monitor location and specifications of critical parts in real time
- Manage stock levels and respond swiftly to market changes
- Connected ecosystem enabling collaboration and supply chain information sharing between manufacturer, carriers, and tier 1 and tier 2 suppliers
- Gain visibility of supply shortages and plan risk mitigation to avoid production shutdown and revenue losses
Car dealers and repair shops