LONDON: SpendEdge, a leading provider of procurement market intelligence solutions, has announced the completion of their latest article on roadblocks in the supply chain of the automotive industry.
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The automotive sector is considered to be one of the promising industries in terms of technological growth and innovation. But companies are exposed to several challenges that are related to the supply chain in one way or the other. The complexity of the supply chain makes it imperative for companies in the automotive industry to enhance their supply chain management systems. Strategic supply chain management, therefore, must be the top priority for organizations.
At SpendEdge, we understand that supply chain management is crucial for companies to strive in the market. Therefore, we have highlighted the key supply chain management challenges facing companies.
Top Supply Chain Challenges that are Impacting Automotive Industry
Overstocked inventories
Companies operating in the automotive industry at times undertake extensive production. This results in over-stocking, thereby, creating a major challenge for companies. Estimating the demand accurately and maintaining a balance in the product and supply could help companies make better production decisions.
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Rising recalls
Recalls in the automotive industry are associated with high costs. They not only tarnish the brand name and impact the reputation but disrupt the system. If the operations scale globally, then such supply chain risks have a higher risk of adverse consequences as the customer's safety is at stake. To know how you can better manage rising recalls and boost the brand value, get in touch with our experts now!
Just-in-time operations
Incorporating just-in-time strategies to the supply chain is a major challenge for companies in the automotive industry. Companies require complete visibility of each aspect of their supply chain and access to vital data to create a plan for future growth. Automating processes and improving visibility at each stage could help companies to minimize costs and other losses.
To know more about supply chain challenges in the automotive industry, read the complete article here!
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About SpendEdge:
SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions.
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