The automotive industry has perhaps one of the most complex supply chains in the world given the number of parts and the importance of quality and cost-competitiveness, in both the manufacturing and after-market cycle. Downward pressures on automotive companies to keep costs low during this time of rising commodity prices and inflation have resulted in unique procurement strategies being adopted by manufacturers and multiple tiers of suppliers.
During this virtual forum, now available on-demand, our procurement experts share insights into these strategies.
Real-time visibility into key commodity index changes, their effect on the total cost of manufacturing and the resulting effect on customer profit margins
Alternate supply sources, particularly domestic or near-shoring, to reduce reliance on foreign sources, given supply chain disruptions and increased fuel and logistics costs
Changes in planning and ordering methods to plan for supply uncertainties and take advantage of commodity hedging