The author notes that these strategies often overlap and are still in use today, with some gaining more prominence due to changing circumstances such as the pandemic. The challenge for industry leaders is to find the right mix of these strategies to achieve maximum efficiency and cost reduction. The article suggests that the future may involve a combination of stability, added intelligence, and a hybrid workplace model.
Key takeaways:
- The automotive industry has gone through several 'ages' of efficiency, including stability, offshoring and onshoring, process control, connected data, flexible workplace, and added intelligence.
- Artificial Intelligence (AI) is being applied to various parts of product development, not just the product itself, making engineers more efficient and reducing costs.
- The hybrid workplace, brought on by the pandemic, has been shown to increase productivity, increase hours worked, decrease the campus footprint required, and decrease turnover.
- The future of efficiency in the automotive industry will likely be a mix of these 'ages', with the most successful companies being those that can find the right balance between them.