Lean Manufacturing and Strategic Partnerships
Electronics Sourcing, August 2023 – NewPower Worldwide introduces the advantages of leveraging lean manufacturing techniques and strategic partnerships for sourcing automotive electronic components
The automotive industry has entered an era of excitement, innovation and evolution, with consumer demand for emerging technology such as connectivity and electrification driving this evolving industry. A recent study revealed 48 percent of car buyers now prioritize in-vehicle technology over traditional factors like brand name and performance. The world of cars is changing and consumers are eagerly embracing the choices that lie ahead.
However, this dynamic market comes with its own challenges. The pandemic’s disruptive effects on global supply chains drove unprecedented shortages that created demand for agile, resilient supply chains. This trend is not slowing as geopolitical tensions are creating an air of regulatory uncertainty for supply chain professionals.
To meet escalating demand and navigate potential disruptions, automotive OEMs are revolutionizing their supply chains and focusing on lean methodologies and lean-minded partners. By working with suppliers who think this way, automakers are building customized programs to maintain their competitive edge.
Lean manufacturing has become essential to the automotive industry, helping automakers and suppliers stay competitive in a rapidly changing market. Fundamentally, it is based on highly flexible and efficient production through streamlined processes. Ultimately, delivering maximum value to the customer. With a customer-centric approach, OEMs learn what is and isn’t valuable and deliver the best possible product with as few barriers as possible.
To bridge the gap in the microchip market, where consumer electronics manufacturers hold a 50 percent share while automakers lag at 15 percent, OEMs partner with leanminded companies. These partnerships are crucial for creating custom programs tailored to the specific needs of automakers. Lean-minded partners bring valuable solutions, identifying potential threats and working together to mitigate their impact.
The advantages of collaborating with suppliers who prioritize lean principles are numerous. These partnerships provide OEMs with total control and flexibility, enabling quick adaptation to market changes. With access to global inventory visibility and 100 percent supply assurance, automakers can make fast and efficient decisions, staying ahead of competition.
Today’s auto landscape requires nimble thinking and innovative approaches to keep up with supply chain disruptions and the technology of tomorrow. If done correctly, this shift can bring a new level of efficiency and customization to consumers.
NewPower Worldwide understands the importance of lean-oriented partnership and supply chain optimization. Its expertise and dedication can help manufacturers navigate the ever-changing automotive industry.
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