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AUGUST 03, 2023


LEAN MANUFACTURING AND STRATEGIC PARTNERSHIPS

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LEAN MANUFACTURING AND STRATEGIC PARTNERSHIPS

Electronics Sourcing, August 2023 – NewPower Worldwide introduces the advantages
of leveraging lean manufacturing techniques and strategic partnerships for
sourcing automotive electronic components

The automotive industry has entered an era of excitement, innovation and
evolution, with consumer demand for emerging technology such as connectivity and
electrification driving this evolving industry. A recent study revealed 48
percent of car buyers now prioritize in-vehicle technology over traditional
factors like brand name and performance. The world of cars is changing and
consumers are eagerly embracing the choices that lie ahead.

However, this dynamic market comes with its own challenges. The pandemic’s
disruptive effects on global supply chains drove unprecedented shortages that
created demand for agile, resilient supply chains. This trend is not slowing as
geopolitical tensions are creating an air of regulatory uncertainty for supply
chain professionals.

To meet escalating demand and navigate potential disruptions, automotive OEMs
are revolutionizing their supply chains and focusing on lean methodologies and
lean-minded partners. By working with suppliers who think this way, automakers
are building customized programs to maintain their competitive edge.

Lean manufacturing has become essential to the automotive industry, helping
automakers and suppliers stay competitive in a rapidly changing market.
Fundamentally, it is based on highly flexible and efficient production through
streamlined processes. Ultimately, delivering maximum value to the customer.
With a customer-centric approach, OEMs learn what is and isn’t valuable and
deliver the best possible product with as few barriers as possible.

To bridge the gap in the microchip market, where consumer electronics
manufacturers hold a 50 percent share while automakers lag at 15 percent, OEMs
partner with leanminded companies. These partnerships are crucial for creating
custom programs tailored to the specific needs of automakers. Lean-minded
partners bring valuable solutions, identifying potential threats and working
together to mitigate their impact.

The advantages of collaborating with suppliers who prioritize lean principles
are numerous. These partnerships provide OEMs with total control and
flexibility, enabling quick adaptation to market changes. With access to global
inventory visibility and 100 percent supply assurance, automakers can make fast
and efficient decisions, staying ahead of competition.

Today’s auto landscape requires nimble thinking and innovative approaches to
keep up with supply chain disruptions and the technology of tomorrow. If done
correctly, this shift can bring a new level of efficiency and customization to
consumers.

NewPower Worldwide understands the importance of lean-oriented partnership and
supply chain optimization. Its expertise and dedication can help manufacturers
navigate the ever-changing automotive industry.

ELECTRONICS SOURCING AUTOMOTIVE: LEAN MANUFACTURING AND STRATEGIC PARTNERSHIPS

 

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