The automotive industry is experiencing one of its most challenging times ever. Facing intense competition, altering demand, new mobility trends, complex supply chains and changing customer expectations. Today’s industry players are challenged by ubiquitous disruptions to become leading digital enterprises of the future. There is a growing need to learn fast how to turn disruption into opportunities: A McKinsey Study recently found out that by 2020, global profits for automotive OEMs are expected to rise by almost 50 percent and overall, the global automotive industry is in better shape than it was five years ago
“Vehicles and, to an increasing extent, machines need to be integrated in digital business processes. Whether it is a truck on the road, a forklift at the warehouse or an excavator at a construction site, everything needs to be operated in the most efficient way possible”, said Stephan Brand, Senior Vice President, Products & Innovation Internet of Things (IoT) and Moving Assets, SAP.
Traditional automotive companies transforming into mobility providers are just one of many examples how to differentiate and win when industry boundaries are blurring rapidly. The connected vehicle and powerful new concepts for mobility and transportation pave the way for the automotive industry to prime innovation from every angle.
Research from IDC shows that “almost 90% of automakers believe the connected vehicle (CV) trend will have a significant impact on their organizations, up to the point of affecting their organizations from the core and possibly changing their very business model.” Accordingly the global connected vehicle market until 2020 will witness a more than robust 27% CAGR based on P&S Market Research.
Software innovations and cloud technologies are key enablers for companies to leapfrog the competition. Running a digital transformation means shifting to new production, supplier networks, aftermarket services, customer engagement and business models to open unparalleled business possibilities and revenue streams.
All these topics and more will be addressed at the “Best Practices for Automotive” Event from October 17 – 19, 2016 in Detroit, Michigan, USA. The theme for this year’s event brings it to the point: “Accelerating business in the digital age”.
Do not miss the inspiring customer stories from your industry peers covering the spectrum from Finance, Manufacturing and Engineering, Supply Chain, Information Technology to Sales, Customer Service, Change and People. You can learn hands-on from Ford, GM, BMW, Bosch, Daimler Trucks, Goodyear, Crown, Uber and many more industry leaders.
No other conference will offer you a more in-depth look at the latest solutions and strategies for the complex industry issues you are faced with today. You will leave Best Practices for Automotive with a network of industry professionals and experts who can help you year-round to drive value with SAP solutions and improve your bottom line.
Michaela is the VP Product Management at SAP SE and Supporter of Social Entrepreneurship