Accelerating Speed to Market in the Highly Competitive Automotive Industry
By Melissa Centurio Lopes on Sep 03, 2013
In the auto industry, introducing new products to market can cost up to $1 billion depending on the product’s complexity. Getting these products to market on time is crucial in order to realize ROI during the full lifecycle of the product. Without a timely launch, OEMs aren’t only affected, but suppliers, dealer sales & services and aftermarket ecosystems lose out, as well.
Earlier this year, we saw new product launches that struggled and experienced recalls, with the potential loss of thousands of units in sales and corresponding loss of market share and customer confidence -- something that in this competitive environment is hard to win back. Studies also suggest that for every day an automotive launch was late, an OEM missed out on a million dollars in sales.2 One OEM believed that after being three months late on a major launch – it had lost 60% of the lifecycle profit.
Why does production fall behind?
Getting these products to market on time is crucial in order to
realize ROI during the full lifecycle of the product.
Read the complete whitepaper here to learn how an Enterprise Project Portfolio Management solution can help in accelerating the launch of new automotive products to achieve full lifecycle return on investment.