63 Percent of Automotive Companies Say Future Product Planning Now More Complex

Some 84 percent of automotive companies say that information on future car models is important to their company’s strategy, yet only 39 percent claim to have a detailed, written-down forecast, according to a new survey.

The global survey also reveals almost two-thirds of auto manufacturers and suppliers believe planning for the future has become more complex over the last 12 months.

Understanding the automotive industry’s fast-moving new product cycles and actions plays a key role in strategic planning. Half of the companies surveyed said they found obtaining information on vehicle manufacturers’ future model programs either “difficult” or “extremely difficult.” Only 15 percent claimed they were able to find the required information without difficulty.

According to the survey, the biggest obstacle in producing an accurate forecast is the lack of data from customers, followed by the cost of sourcing data and a lack of up-to-date information. Lack of resources and in-house expertise also emerged as barriers to effective forecasting.