Navigate the Next in Automotive: Focusing on Product Digitization and Sourcing the Non-core
The competition between automotive OEMs is no longer on safe, comfortable, fuel-efficient vehicles. On one hand, the industry is witnessing fundamental changes in business models. On the other, the sweeping change from Internal Combustion Engines (ICEs) to Electric Vehicles (EVs) is pressurizing automakers to reimagine their operations and value chains completely. In today’s competitive landscape, the rules are being rewritten faster than ever; and the winners will be the most digitally advanced, agile organizations.
In this POV, Ruchir Budhwar, Senior Vice President and Industry Head, Manufacturing and Automotive at Infosys, discusses how automotive OEMs and suppliers can leverage digitization to navigate the new paradigm and channelize their energies on innovation. From monetizing data and enabling omnichannel customer engagement to adopting an ecosystem approach to deliver hyper-personalized vehicles, the POV covers a broad range of topics that will empower you to navigate your next.
Further, the POV presents a case for OEMs to source their non-core functions towards industrialized, standardized services. As core business transformation requires complete attention, automakers must rethink their existing infrastructure components and services. In today’s high-paced global landscape, external digital partners give OEM leaders freed-up headroom.
Although several changes and challenges lie in the road ahead, sizable opportunities also await automakers if they take the right decisions now!
Download the POV here.