Automotive Industry at a Glance
The automotive industry, one of the world's most mature and sophisticated sectors, continues to evolve rapidly. With global car sales exceeding 79 million units in 2022, each vehicle requiring thousands of components, the industry faces significant procurement challenges. In APAC, countries like China, Japan, and South Korea are leading the charge in automotive innovation, with a strong focus on electric vehicles and autonomous technologies. Industry disruption is driving manufacturers to transform their business models in response to growing demands for digital experiences, new ownership models, and sustainable choices. The APAC region's emphasis on electric vehicles and mobility services aligns with these trends, pushing automakers to adopt lean, agile operations that can navigate commodity volatility and evolving customer preferences effectively. Success in this dynamic environment requires resilience, intelligence, and a forward-thinking approach to procurement and supply chain management.
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