Society of Indian Automobile Manufactures (SIAM) and Automotive Component Manufacturers Association of India (ACMA) joined hands to release the findings of the study ‘Digital Transformation Roadmap for India’s Automotive Industry.’ Carried out in collaboration with by A.T. Kearney, the study focusses on developing a clear roadmap for the adoption of digital technologies across the value chain, products and the ecosystem in the automotive industry.
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. The study highlights global best practices and relevant case studies to help develop a cohesive roadmap that charts out clear action items for individual companies, industry bodies, associated industries and government bodies. Some of the key findings of the report are:
• Industry bodies ACMA and SIAM will need to drive standardisation, initiate industry wide blockchain network, launch pilots in collaboration with other industries as well as create a digital knowledge management platform and a centre of excellence to conduct digital benchmarking and share best practices among the industry.
• 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 the short term, the industry 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.
• The organisations will need to develop technology expertise, deployment internal capabilities as well as update its business processes to align with new technologies to make digital transformation successful.
• The industry will also seek government’s support in skill development through upgradation and adoption of relevant skill development institutes, setting up digital infrastructure, ensuring connectivity and data sharing as well as regulating the finance and insurance industry.
Rajan Wadhera, President, SIAM & President – Automotive Sector, Mahindra & Mahindra Limited, said the report is the first step towards a globally competitive industry.
Ram Venkataramani, President, ACMA, said the study recommendations will help the sector stay relevant to our customer and maintain indsutry competitiveness. 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.