In the fast-paced automotive industry, integrating external market data into suppliers’ systems has become crucial for success. Prominent sources like S&P IHS Markit, GlobalData LMC Automotive, BloombergNEF and Power Systems Research offer valuable insights and forecasts into vehicle, engine and powertrain production and sales. By harnessing this data effectively, automotive suppliers can anticipate market demand, enhance product development, optimize supply chain management, strengthen customer relationships, and drive sustainable growth.

Integrating market data empowers automotive suppliers to refine their product development and innovation strategies. By understanding market and technology trends, suppliers can identify product white-spots and build effective product roadmaps and strategies.

Using consistent market data for forecasting can improve the accuracy and reliability and streamline supply chain management. Access to updated project planning and production volume data allows suppliers to optimize procurement, production, inventory management, and logistics operations. This optimisation results in cost savings, improved efficiency, and minimized disruptions for their internal and customer production plants.

Most importantly, automotive suppliers can extract even greater value from market data by fully integrating it into their sales management and forecasting systems. This integration offers several advantages, including seamless data accessibility, faster identification of new business opportunities, enhanced forecasting and planning accuracy, improved sales and pricing strategies, efficient decision-making, and streamlined collaboration and reporting.

With an integrated view of the market data, it also allows suppliers to analyse and build possible alternative forecast scenarios built on customer or internal know-how and centrally control which scenarios are used for sales forecasting and planning.

The Xotigo digital Sales Management solution supports the integration of external market data from any source, allowing effective product and customer strategy planning, automatic forecasting of new business opportunity and running business forecasts, the use of independent forecast scenarios and ensuring consistent use of market data across the organisation.

By effectively leveraging integrated external market data, suppliers gain a competitive edge and stay one step ahead in the dynamic automotive landscape.