Recently, Whitehall President Joe Bione spoke at the Baker Tilly/Dickerson Wright sponsored Bi-Continental Automotive Summit on Preparing the Automotive Supply Chain for the next Disruptive Event (to preview his presentation click the above link.)
WHAT IS A DISRUPTIVE EVENT AND HOW IS IT GOING TO AFFECT THE AUTOMOTIVE SUPPLY CHAIN?
When a new service or product helps create a new market
significantly weakens, transforms, or destroys an existing product, market category/industry
WHEN IS THE NEXT DISRUPTIVE EVENT COMING?
It is here, its happening now!
- It is not clearly understood
- It is hard to describe
- It could be a big disruption or it could be small
- It might directly effect your company or indirectly but, it will effect ALL
- No one knows exactly but, investment in disruptive technology is exponential with new players entering the race daily
WHO WILL BE AFFECTED THE MOST?
- Companies that are committed/stuck in old technology or soon to be obsolete products
- Companies who are not profitable or have the balance sheet to react or play in the new market
- Companies who are not aware of changes around them both at customer and supply chain level
- Companies that do not have any new or innovative technologies to distinguish themselves from their competitors
- Companies with a “this is the way it has always been done” mentality or an “it’s not going to change and affect me” attitude
WHAT CAN YOU DO TO PROTECT YOUR BUSINESS?
- Listen/learn- Stay aware of the situation and what’s happening at each level
- Control what you can inside your four walls
- Be ready and open for change- mindset of both Owners and Employees
- Be agile- Prepared to react and make decisions intellectually/quickly
WHAT SHOULD SUPPLIERS BE DOING TO PREPARE?
Contact us now at 1-248-519-1072 to discuss how Whitehall can assist your company.