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To respond adequately, those businesses should become renewable enterprises, continually rethinking their business from a customer perspective and adapting to satisfy the evolving requirements of existing and new customers.Renewable enterprises enjoy best-in-class agility, plus intelligence and proactivity, together with smart approaches to innovation.
The uncertainty faced by automotive suppliers in recent years shows no signs of going away. In fact, with ongoing disruptions such as semiconductor shortages and exploding raw material prices, planning is more difficult than ever.
In the slightly longer term, the challenges are even greater. Major OEMs are redefining their business models around concepts such as software excellence, appropriate vehicle technology, customer centricity, and sustainability, with electric vehicles (EVs) increasingly at the heart of their strategies.
Suppliers need to re-align rapidly to support the OEMs’ new objectives, which means accelerating their own digitization journey.
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