Auto suppliers have always had to plan for the seemingly unplannable – recessions, for example, impacted not only demand for new vehicles, but also how lenders would typically reduce the availability of credit for many consumers who desired to purchase a car.
In recent months, of course, new factors have come into play to blitz the auto market – from getting parts and materials to and from often locked down destinations, and then having workforces available, healthy and secure to perform the work, it’s no wonder chaos has reigned supreme for the auto supplier market.
As such, many auto suppliers who had been gradually digitizing their businesses to look towards greater efficiencies and profits, turned back the clock to spreadsheets and manual forecasting to survive a seemingly unending flurry of pandemic-related events. Others, who had either been farther along in their transformation or simply felt a change was their only road to survival, started to go all-in to attempt to advance their use of analytics and decision management to ride out the storm.
Scarcity of analytic talent, however, as well as the cost, can inhibit a data science-led transformation. Thus, the true innovators turned to FICO© Xpress Optimization for its flexibility, power, scalability and perhaps most critically, transparency for and use by business teams. The value of Xpress Optimization can be expanded in organizations that are already using optimization to handle complex, multi-constraint decisions by unlocking business expert-powered simulation that can, essentially, monitor the impact of solutions pre-production, helping bridge the gap between data science, operations research, and business teams. For auto suppliers that haven’t fully “tested the water” in optimization, FICO© Manufacturing Solver and FICO© Supply Chain Solver are configurable solutions built on the FICO© Xpress Insight platform that can help solve problems quickly, even without heavy investment in data science or operations research resources. And if forecasting is giving you headaches, FICO© Forecaster also empowers non-technical users via a friendly GUI to do scenario comparisons, what-if analysis, and other capabilities built on more than a dozen proven forecasting algorithms.
Xpress Optimization also separates itself from proprietary systems, as it can consume any model you develop—Xpress, Python, AI/ML, SAS and R, or other methodologies—to rapidly build and deploy powerful business-driven prototypes in days, and fully optimized solutions in just weeks.
Download our white paper, “How FICO helps auto suppliers build resilient organizations,” and learn how optimization can help auto suppliers at any level of analytic maturity accelerate the path to digital transformation. Interested in staying up to date with this type of content, make sure to follow our Optimization Blog for updates.
In recent months, of course, new factors have come into play to blitz the auto market – from getting parts and materials to and from often locked down destinations, and then having workforces available, healthy and secure to perform the work, it’s no wonder chaos has reigned supreme for the auto supplier market.
As such, many auto suppliers who had been gradually digitizing their businesses to look towards greater efficiencies and profits, turned back the clock to spreadsheets and manual forecasting to survive a seemingly unending flurry of pandemic-related events. Others, who had either been farther along in their transformation or simply felt a change was their only road to survival, started to go all-in to attempt to advance their use of analytics and decision management to ride out the storm.
Scarcity of analytic talent, however, as well as the cost, can inhibit a data science-led transformation. Thus, the true innovators turned to FICO© Xpress Optimization for its flexibility, power, scalability and perhaps most critically, transparency for and use by business teams. The value of Xpress Optimization can be expanded in organizations that are already using optimization to handle complex, multi-constraint decisions by unlocking business expert-powered simulation that can, essentially, monitor the impact of solutions pre-production, helping bridge the gap between data science, operations research, and business teams. For auto suppliers that haven’t fully “tested the water” in optimization, FICO© Manufacturing Solver and FICO© Supply Chain Solver are configurable solutions built on the FICO© Xpress Insight platform that can help solve problems quickly, even without heavy investment in data science or operations research resources. And if forecasting is giving you headaches, FICO© Forecaster also empowers non-technical users via a friendly GUI to do scenario comparisons, what-if analysis, and other capabilities built on more than a dozen proven forecasting algorithms.
Xpress Optimization also separates itself from proprietary systems, as it can consume any model you develop—Xpress, Python, AI/ML, SAS and R, or other methodologies—to rapidly build and deploy powerful business-driven prototypes in days, and fully optimized solutions in just weeks.
Download our white paper, “How FICO helps auto suppliers build resilient organizations,” and learn how optimization can help auto suppliers at any level of analytic maturity accelerate the path to digital transformation. Interested in staying up to date with this type of content, make sure to follow our Optimization Blog for updates.
Updated 5 years ago
Version 3.0