Automotive Component Manufacturers Association of India (ACMA) along with the Society of Indian Automobile Manufacturers (SIAM) have released the findings of the study ‘Digital Transformation Roadmap for India’s Automotive Industry’, by A.T. Kearney a leading global management consulting firm. The study focuses on developing a transformational roadmap to adopt digital technologies in the automotive industry across the value chain, products and the industry ecosystem.
The report identifies 11 technologies relevant to the automotive industry in terms of their applications and the scale of impact on the automotive value chain and products. The report also presents specific short, mid and long-term action points for companies, industry bodies, government as well as the entire automotive ecosystem.
Organisations should start with the development of a clear digital roadmap relevant to their long-term strategy, budget allocation as well as appointing a dedicated digital team in place responsible for end-to-end implementation of digital initiatives.
In terms of technologies to adopt, the industry in short term can start with the implementation of big data and advanced analytics for supply chain planning, IoT for connected factory, workforce training through AR/VR platforms, analytics, apps and APIs to improve customer engagement and 3D printing, AR and VR for rapid prototyping.
To make the digital transformation successful, the organizations will need to develop technical expertise, deployment internal capabilities as well as update business processes to align with new technologies.
Industry bodies ACMA and SIAM will need to drive standardization, initiate
Rajan Wadhera, President, SIAM & President – Automotive Sector, Mahindra & Mahindra, said, “To continue our effort towards global prominence, SIAM and ACMA partnered with A.T. Kearney to launch “first of its kind” industry level Digital Transformation Roadmap. This is the first step towards a globally competitive industry”.
“The disruptive changes facing the automotive sector, accompanied by, shorter product life-cycles and rise of electric content, are forcing the auto components industry to become agile and digitise. The study recommendations will help the sector stay relevant to our customer and maintain our competitiveness,” said Ram Venkataramani, President, ACMA.
Manish Mathur, Partner and Asia Pacific Leader, Automotive practice, A.T. Kearney said, “This was a bold and strategic initiative taken at the industry level to ensure there is a widespread common understanding of emerging digital technologies and the opportunities they present.”