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The best way to manage your auto dealership with ERP software that brings cross-departmental functionalities onto a single platform.
Automotive ERP software makes it possible to get your goals achieved. Your goal to become or be a dominator in automotive industry can be easily achieved with our enterprise resource planning solution. Wishing to be at the top of the industry requires streamlining your business with addition to transparency in system and many other needs. All these requirements get fulfilled with timely integration of the ERP for the automotive industry. ERP for automotive industry allows you to keep track of your resources and progress and assists you in analyzing these outcomes.
The background of India’s automotive industry
The Indian automotive industry has grown by two places, from being the seventh largest global manufacturer in 2019 to the fifth largest in 2020. Domestic automobile production increased by 2.36% CAGR and domestic automobile sales increased by 1.29% CAGR between FY 2016-2020. This sector has received a substantial FDI worth USD 25.40 billion between 2000-2020. The government has introduced the voluntary vehicle scrappage policy in 2021 that will boost demand for new vehicles. In addition, under the government’s FAME (Faster Adoption and Manufacturing of (Strong) Hybrid and Electric Vehicles) policy, 11 cities have been shortlisted to produce electric vehicles.
Future of India’s automotive industry
According to the Society of Indian Automobile Manufacturers, India took seven years to increase vehicle production from three million to four million. But the International Monetary Fund projects that the Indian automobile sector will achieve the next milestone of five million in less than five years. Here are two critical milestones that will define the future of India’s automotive industry.
Significant rise in charging outlets: India is witnessing a significant decline in the price of batteries and supporting infrastructure required to operate electric vehicles on a considerable scale. Governments and private players are investing substantially in developing charging outlets and the deployment rate will depend on the adoption speed of electric vehicles in the country. Another benefit of electrification is that people will get rid of high fuel costs and save a lot of traveling expenses.
Massive improvement in the driver’s safety: Statistics show that India accounts for 12% of global road deaths and more than 80% are due to driver’s negligence. Also, there is a lack of self-discipline in the driving culture causing loss of life and property. Autonomous vehicles (AVs) will decrease fatalities and reduce traffic congestion because of multiple features like driving assistance, anti-lock brake assistance, navigation service, parking assistance, and many more.
The automotive industry in India is going through a challenging phase. The most significant reason behind the dip in automobile sales worldwide is the Covid-19 outbreak. The trend is most likely to continue in the coming years as well. Many companies are also working on building autonomous vehicles controlled through AI and the tectonic shift from IC engine-based vehicles to electric vehicles.
Sage X3 automotive ERP software is a cutting-edge solution that will help your business build market competence in the automobile industry and provide top-notch services to your customers. The following features explain how:
Sage X3 enterprise resource planning software tracks financial activities, such as quotes and cash across every department, which helps managers brainstorm effective strategies based on comprehensive financial data. It also contains intelligent tools like accounts payable, accounts receivable, general ledger, and bank management for getting a complete economic outlook. Further, it includes features that incorporate fixed assets, budgeting, depreciation schedules, and advanced reporting.
Sage X3 enterprise resource planning software monitors each supply chain process to gather real-time information about business partners. Companies get access to intelligent tools that help oversee all exchanges with suppliers to ensure compliance with delivery dates, quality assurance, and purchase costs. Various advanced options allow delivering short-to-long processes such as PO, RFQs and responses, receiving returns and invoices, contract and blanket orders, and many more. This ERP system also manages dispute resolution and payment approval.
Sage X3 is a cutting-edge automotive industry ERP system as it manages company-wide sales activities. Your automotive business will get access to many intelligent tools such as delivery schedules, blanket orders, inventory allocation, shipping returns, and invoicing that will help you monitor short-to-long cycle sales processes. Other features include customer hold/release management, risk analysis, and statistics.
Sage X3 equips automobile manufacturing companies to plan, schedule, and production control activities. It consists of various manufacturing modes such as MTO, ATO, MTS, and CTO. This automotive ERP software helps manage the work plan and conduct manufacturing analysis to replenish the inventory as soon as it goes below the set threshold. The best part is that your business will achieve process and product consistency and match customer demand.
Automotive ERP software provides numerous benefits to companies operating in this space, from analyzing the latest market trends and managing inventory to streamlining business functions and reporting faults and failures. It also helps produce the best quality products and monitors each link of the supply chain. Here are a few benefits of ERP software:
Enterprise resource planning software for the automotive industry has quality control modules that help with quality planning, quality assurance, and quality controlling of automobiles. These robust quality control features ensure that automotive manufacturing companies undergo mandatory safety tests and adhere to standard norms formulated by the government. ERP software also sends alerts to repair engineers for identifying and rectifying machine faults. It also isolates machine parts that fail to meet the quality standards.
The inventory management feature of automotive ERP software ensures that companies can access necessary raw materials and finished products when required. It checks the quantity of raw materials in real-time and sends reports to the inventory manager. It also ensures smooth delivery of orders and paves the way for clear communication between various stakeholders. Automotive companies can ascertain the exact number of two-wheelers, three-wheelers, and four-wheelers in the inventory and how many more they require for meeting customer needs. Moreover, companies can also attend to queries like stock-up of essential parts, defects, and returns. Shipping, which forms an integral part of inventory management, ensures that customers get the desired product within the specified time.
Automotive industry ERP collects and stores critical company information, including documents, files, reports, statistics, vendor data, and customer feedback in a single repository. As a result, relevant stakeholders can access, upload, and download essential documents from any interconnected device at any time. It also protects unauthorized access and protects crucial documents from falling into the hands of hackers.
In order to easily perform and execute the necessary activities required at any auto-related industry like car manufacturing or motor industries, you need a one-point solution. Sage X3 is one such ERP software that will definitely let you get your cumbersome duties done with least effort.
Other benefits include growth in sales, simplification of cumbersome processes, decreased expenditure and thus, improved productivity. Sage Software Solutions offers customized ERP solution for all industries in India.
To know more about how Sage Software can help improve your automotive business, SMS SAGE to 56767 or click here. You can also drop us a mail at sales(at)sagesoftware.co.in for a FREE demo.