For BMW, SAP S/4HANA is at the center of its multiyear project COSMIC, an ambitious new way that its finance IT team is developing to track data on its vehicles. The company’s decision to implement SAP S/4HANA in 2016 also made it one of the earliest adopters of the ERP system.
The automobile is a transformative invention that changed the technological, social, and economic fabric of our society. Now, we are witnessing a new era of accelerated automotive disruption, which according to McKinsey is likely to be far more impactful than the previous 50 years.
While industry analysts are not entirely clear what the future of automotive technology holds, we know that SAP customers in the industry are focused on three central trends: driving the business with artificial intelligence, applying automation everywhere, and moving to autonomous vehicles. These trends are putting pressure on automotive businesses to make their operations fully digital, organize and manage their data more effectively, and integrate and connect their critical business systems.
The automotive industry is undergoing more technological transformation now than it has in the past 100 years – and it’s not going to slow down anytime soon. With steep competition from global manufacturers and new market entrants, the industry is being pressured to consider digital strategies, manage costs, source materials through a global supply chain and remain compliant with local regulations.
Indus Motor Company Ltd., a Toyota manufacturer in Pakistan, needed to update its legacy ERP to meet growing consumer demands. Like other automakers, the company was challenged with managing costs, being efficient, and understanding customer needs. Indus knew it needed technology that would connect its teams from production to sales through one source of truth.
To Frank M. Rinderknecht, founder and CEO of Rinspeed, Inc., innovation is more than just a buzzword. Rinderknecht and Rinspeed have been pushing—or you could say, pulling—the automotive industry into the future for more than 40 years. The company’s newest project, a modular, fully automated vehicle called the “Snap,” is much more than pods on wheels. It’s a whole new way of thinking about transportation.
On Thursday, September 13, SAP announced the winners of the first annual Excellence in Automotive Awards at the Best Practices for Automotive conference. The three awards; Breaking the Mold, Digital Disruptor and Excellence in Operational Performance were hotly contested. Each nomination was evaluated by a panel of industry experts on how they meet and exceed the pre-defined standards listed in each category, as well as ranked against their competitors.
Frank M. Rinderknecht, founder & CEO of Rinspeed, will be a keynote speaker at the Best Practices for Automotive conference September 11-13, 2018 in Detroit, Michigan.
Who is Frank M. Rinderknecht?
Frank Rinderknecht is the founder and CEO of Rinspeed. He started this company in 1977 as a student at the Technical University of Zurich. Rinderknecht is an innovator, a revolutionary, a disruptor, and maritime enthusiast. But really, he’s best known best for Rinspeed’s concept vehicles.
“The auto industry will change more in the next five to 10 years than it has in the last 50,” General Motors CEO Mary Barra notably mentioned at the World Economic Forum two years ago.
The speed of change can certainly be seen with leaders like Tesla beginning to charge for their connected cars premium internet and therefore establishing a revenue stream. As well as outsiders like Waymo (Google’s autonomous car development company) making huge strides in producing reliable and safe driverless cars.Continue reading