Gearing Up for the Future
The automotive industry remains in a transforming world of fast emerging technologies and new market demands. The result, more often than not, is unpredictable sales that lead to overproduction and overstocking, or underproduction, lost opportunities, and frustrated customers. The ripple effects of this stress profit margins even lower due to high operational costs across production, labour, raw materials, and logistics in the industry.
Equally challenging is planning and budgeting in this sector. Planning can be like trying to make it through a maze as a team, but everyone is walking in different directions: departments working across-purposes without integrating their work, resulting in errors, waste, and backlog. This fragmentation makes it challenging for companies to make swift adaptions to changes in markets and align strategies effectively.
Another big obstacle is data fragmentation. Decisive information is with multiple systems, which makes it not possible to have a bird’s eye overview of operations. This halts quick and informed decision-making.
A Game Changer
With advanced analytics and predictive modelling, Jedox redefines demand forecasting. For the first time, firms have been granted a glimpse onto the demand within the market, to a near-surgical level of precision, which enables them to optimize their levels of inventory and streamline their supply chain. This helps optimize supply chain strategy around customer need without the risk of overstocking or stockouts.
The detailed cost analysis tools of Jedox can take costs down into pieces, explain inefficiencies, and could be possible sources of savings. It also facilitates the planning and simulation under scenarios to allow a business to try different strategies without putting them into a plan.
This, in effect, brings down the production cost significantly and thereby improves the profit. Jedox provides unified software that easily integrates Planning, Budgeting, and Forecasting across departments. Such integration minimizes mistakes, saves time, and ensures that all parts of your business work off the same financial strategy. This helps companies drastically reduce the time of their planning cycles and improve the ability to change promptly on the market.
In fact, one of the greatest defined integration possibilities is with the likes of ERP systems, CRM platforms, and other enterprise application databases. This in turn makes Jedox’ ability to integrate data one of the best in the world by enabling knowledge and insight in one’s business and how it is run in real time.
As a key decision maker, what more could one want than to be empowered to act quickly and accurately, leading to increased operational efficiency and structural agility?
Other trends—electric vehicles, self-driving, regulatory landscapes—will shape automotive as well. The advanced analytics and data integration capabilities that Jedox provides will allow companies to adapt and take the lead in this change. It’s not about the challenges that lie in front of companies today but the opportunities of tomorrow, and with Jedox, it assures companies that they are prepared for whatever comes their way.
Jedox Automotive: A True Industry Solution
Jedox offers a powerful solution that is customized with the challenges and intricacies faced in the automotive industry. From demand forecasting and efficient cost management to integrated planning and budgeting and data integration, Jedox puts the power into an automotive company to become efficient, reduce costs, and increase profitability. Use Jedox to get through the challenges of today and to be ready for the changes of tomorrow.