609+ documents containing “automotive”.
Automotive Parts Suppliers
Automotive Industry faced a serious decline in production in last few years resulting in concurrent decline in production of vehicle parts. Unfortunately the production and consumption of vehicle parts made in the U.S. declined more sharply than total sales of vehicles primarily because due to economic recession, people moved from big trucks and SUVs to smaller passenger cars. As consumption at home declined, exports of automotive parts increased dramatically from $42.7 billion in 2009 to $58.1 billion in 2010. At the same time imports of vehicle parts also increased as U.S. automobile companies started importing cheaper parts from Mexico, Canada, Germany, Japan and China. The combined imports from all these countries accounted for 78% of automotive vehicle parts imports. China was the most sought after country as imports from China for vehicle parts increased some 35%.
Suppliers in the U.S. faced a very challenging time during 2009 as automotive….
The three major firms in the United States automotive industry asked the government for a bailout worth $34 billion in December 2008 in order to avoid bankruptcy. These companies asked for the bailout from government because their demise could result in approximately 3 million layoffs within a year, a measure that could plunge the American economy further into economic recession. These three major firms in the American automotive industry are General Motors, Ford, and Chrysler. The bailout of General Motors and Chrysler was to provide operating cash for both companies and to avail auto loans for car buyers. However, many people in the United States opposed the automotive bailout arguing that these American automakers brought the near-bankruptcy on themselves. They argued that these automakers inflicted the bankruptcy on themselves through failure to retool an energy-efficient era, which resulted in lessening their competitiveness in the global market.
Specifics about Automotive Bailout:
Amadeo, Kimberly. "The Auto Industry Bailout." About.com - U.S. Economy. About.com, 28 Mar. 2012. Web. 29 Nov. 2012. .
Eilperin, Juliet. "EPA Issues New Fuel-efficiency Standard; Autos Must Average 54.5 Mpg by 2025." Washington Post. The Washington Post, 29 Aug. 2012. Web. 29 Nov. 2012. .
Isidore, Chris. "Bush Announces Auto Rescue." CNNMoney. Cable News Network, 19 Dec. 2008. Web. 29 Nov. 2012. .
Levin, Doron, and Rebecca Christie. "Chrysler Financial Gets $1.5 Billion to Aid Car Sales (Update4)." Bloomberg. BLOOMBERG L.P., 16 Jan. 2009. Web. 29 Nov. 2012. .
Current automotive market
Current market make up of the global automotive industry:
Impact on the American economy
Not so long ago, the death knell of General Motors was being sounded by many economists. However, GM has rebounded, largely thanks to its international presence, particularly in Indian, China and ussia. "General Motors [has] appeared to regain its one-time perch as the world's largest automaker. With 2011 sales of more than 9 million vehicles, it soared past Toyota, which plunged from first to fourth...as well as Volkswagen" (Eisenstein 2012). GM's sales dominate developing world nations, which shows a great deal of promise for sustained growth given that these nations' middle class populations are expanding and there are high levels of aspirational consumption. Many families have never owned cars and now desire to make their first purchase. The international market could prove more important for all Detroit car manufacturers than the domestic market.
GM sales rose….
Bomey, Nathan. (2012). Leaner North America leads way for GM. Detroit Free Press.
Cha, Ariana Eunjung. (2008). China's cars, accelerating a global demand for fuel.
At this stage one does not know which of all the solutions will be the best for solving the problems of the organization. (acing to compete, the automotive industry goes on demand)
One of the solutions
Now let us look at one area where IBM has helped an organization to improve its dealing in the wholesale market, as probably Kirk Motors is both a retailer and a wholesaler with only one outlet. The concerned company was South Pacific Tires, and the aim of software development was to provide dealers with more convenient ways to reach South Pacific generate demands for the brands of South Pacific and reduce their operating costs. The suggested solution was a B2B and B2C e-business infrastructure which could integrate with their earlier systems. The benefits of the system was to be a saving of A$ I million in a year which could lead to a payback for….
Auto Data Network Announces Appointment of Aftersoft Management Team. Retrieved at http://biz.yahoo.com/bw/050803/35717.html?.v=1Accessed on 5 August, 2005
Galaxy. Retrieved at http://www.sys2.com/products_services/parts.aspx . Accessed on 6 August, 2005
Icas develops superior business management software solutions & systems for parts distribution companies. 1 June, 2005. Retrieved at http://www.icas.com/detail_cms.php?id=87&page_name=news.php&inpage=news_detail.php. Accessed on 6 August, 2005
Racing to compete, the automotive industry goes on demand. Retrieved at http://www-1.ibm.com/businesscenter/cpe/download5/31895/Automotive_POV.pdf . Accessed on 6 August, 2005
Automotive Company: China
The automotive industry in China has seen significant growth over the last decades. The country's economic growth has increased the potential for the industry in t his market, since there is an increase in demand for passenger vehicles by general citizens. This has made the market favorable for new entrants, and for existing market participants to grow and prosper (Holweg, Luo, and Oliver, 2005).
The automotive company in question then also operates in China, and is known as Chong Hu Motors. It generally provides non-commercial passenger vehicles to average citizens. The pricing is therefore also average to cater to the affordability of the market. Generally, representatives of the most popular models are offered, with the latest models being on display. The company also has a used vehicles department for citizens who are concerned with affordability. Vehicles that are not on display can be ordered. There is also an option….
In fact, a hybrid car t is a cross between a gasoline-powered car and an electric car. There are two kinds of hybrid cars. One way is a parallel hybrid. In this, a fuel tank supplies gasoline to the engine. But it also has a set of batteries that supplies power to an electric motor. Both the engine and the electric motor can turn the transmission at the same time, and the transmission then turns the wheels. As a result, in a parallel hybrid, both the electric motor and the gas engine can provide propulsion power. The other is a series hybrid. In this, the gasoline engine turns a generator, and the generator can either charge the batteries or power an electric motor that drives the transmission. Thus, the gasoline engine never directly powers the vehicle.
One might think the reasons for building such a complicated machine when most people are….
In times of inflation, typically inflation rates rise. This tends to slow business activity and slow inflation ("Interest rate," 2009).
Producer Price Index -- The producer price index is the "relative measure of average change in price of a basket of representative goods and services sold by manufacturers and producers in the wholesale market" ("Producer price," 2009). It is made up of three indices: finished goods, intermediate goods, and raw or crude materials.
Trends for Economic Indicators and Prediction for 18-months:
Graph 1: Inflation ate ("Countrywatch data," 2009; "Field listing," 2009).
Graph 2: Gross Domestic Product (U.S. Billions) ("Countrywatch," 2009; "BEA news release," 2009).
Graph 3: Unemployment ate ("Economy," 2009; ).
Graph 4: Producer Price Index ("Economy," 2009)
Graph 5: Personal Income (Billions U.S.) ("Personal Income," n.d.; "State personal," 2009)
Graph 6: Interest ates (30-year) ("30-year," 2009; "H.15, 2009")
How the Automotive Industry Would be Affected by These Predictions:
Continued moderate, but slightly decreasing, inflation will want to keep….
30-year. (No date). Retrieved April 28, 2009, from http://www.federalreserve.gov/releases/h15/data/Annual/H15_SWAPS_Y30.txt .
BEA news release: Gross domestic product. 29 Apr 2009). Retrieved April 28, 2009, from http://www.stat-usa.gov.ezproxy.apollolibrary.com/online.nsf/vwNoteIDLookup/NT009BF1BE/$File/GDP.PDF-OpenElement .
Consumer price increase. (2009). Retrieved April 28, 2009, from http://www.businessdictionary.com/definition/consumer-price-inflation.html .
Countrywatch data. (2009). Retrieved April 28, 2009, from Countrywatch database.
Such changes that influence the automotive industry bring a series of opportunities that the company could exploit. Therefore, the company should focus on Asian markets, where Daimler Chrysler's position on the market can be improved. China is one of the growing markets that the company should address in a more aggressive manner. Certain Chinese polls and surveys place Jeep in the top 5 most preferred American brands (Highfill et al., 2004).
One of the threats that are likely to affect Daimler Chrysler is represented by the instable alliance between the company and Mitsubishi. This situation and Mitsubishi's current evolution have damaged Daimler Chrysler's condition, revealing the company's vulnerability. If this situation persists, the company could be severely affected in the future, and it is quite likely to be outrun by lower positioned companies in terms of sales.
Another threat consists in Daimler Chrysler's decision to invest in the hydrogen fuel technology.….
United States Inflation rate - consumer prices (2008). Index Mundi. Retrieved September 4, 2008 at ( http://indexmundi.com/united_states/inflation_rate_ (consumer_prices).html.
Carrick, Alex (2008). Motor vehicle sales are driving into some potholes. Journal of Commerce. Retrieved September 4, 2008 at http://www.journalofcommerce.com/article/id29889 .
Highfill, D. et al. (2004). Automotive Industry Analysis. AcademicMind. Retrieved September 4, 2008 at http://www.academicmind.com/unpublishedpapers/business/management/2004-11-000aaa-automotive-industry-analysis.html .
Automotive industry's value chain is highly dependent on the level of quality management achieved in each phase of supplier validation, sourcing, procurement and demand management, to ensure each customer gets the highest quality vehicle possible (o, Liker, Fixson, 2007). The intent of this paper is to compare a domestic manufacturer, Chrysler, with a globally-based one, Toyota on how each manages the quote-to-order process for customized vehicles. While both companies take a unique approach to this process area, both share a common attribute or characteristic of using quality management, demand management, forecasting and pricing data to optimize their performance in production, services and customer management (Breyfogle III, 2010). For purposes of this analysis the quote-to-order process these auto manufacturers and others like them also use to translate customer demand into high quality vehicles is used (Selladurai, 2004).
Describing the Quote-to-Order Process between Chrysler and Toyota
The purpose of the quote-to-order process is to….
Bilek, G.. (2010). The Value of Information Sharing in a Build-to-Order Supply Chain. The Business Review, Cambridge, 15(1), 131-136.
Forrest W. Breyfogle III. (2010). Process improvement projects shortcomings and resolution. International Journal of Lean Six Sigma, 1(2), 92-98.
Harry K.H. Chow, K.L. Choy, & W.B. Lee. (2007). Knowledge management approach in build-to-order supply chains. Industrial Management + Data Systems, 107(6), 882.
Jeffrey H. Dyer, & Kentaro Nobeoka. (2000). Creating and managing a high-performance knowledge-sharing network: The Toyota case. Strategic Management Journal: Special Issue: Strategic Networks, 21(3), 345-367.
That means they have to be flexible, and they also have to be open to change, in case they face an emergency or a repair they may not be too familiar with.
A good mechanic is honest, as well. Many garages have the reputation of being dishonest or inept, and it gives many mechanics a bad name. The customer should be able to trust the mechanic and trust his word about what is wrong with the customer's car. If a customer does not trust the mechanic, they probably will not return to the shop, and the certainly will not recommend them to others. Therefore, a mechanic must always be fair and honest, and never give the customer any reason do doubt his word or his actions.
A good mechanic stands by his work, as well. The shop should offer a warranty, and they should stand behind that warranty. A good mechanic….
The report develops mathematical model and Excel is ideal spreadsheet to implement a mathematical model because it is developed to carry out a number of iteration. The report uses the spreadsheet to determine the time that the engine takes to reach 3000 rpm with continuous 100% fuel input.
The Table 1 provides the layout of the spreadsheet, which reveals the time on the first row and the system variables on the subsequent columns on the right. The table 2 defines the Constant separately, which can be easily changed in order to investigate the system response.
Table 1: Layout of the Spreadsheet
Table 2: The Engine Parameters
1. The report constructs the spreadsheets using respective equations as being defined in Fig 2.
In the row 1 of the spreadsheet, the report defines the time and the system variables to evaluate the system model as being revealed in Fig 4 from left….
Harris, H.D. & Pearce, F. (1990). A universal mathematical model of diesel engine performance .Journal of Agricultural Engineering Research . 47: 165 -- 176.
Golten, J. & Verwer, a. (2003). Control System Design and Stimulation.London.McGraw-Hill Publishing.
Jon, R. (2004). Automotive Control Systems: For Engine, Driveline and Vehicle. Sensor Review. 24(4): 395-396.
Also in contrast to Toyota, Ford boasts a heavily unionized workforce rather than stresses the need for employees to sacrifice for company success. Although both place a premium value on company loyalty, Toyota's method stands in sharp contrast to Ford's rewarding of its workers with long-term benefits and extensive retirement packages. This has proved a drain on Ford finances in recent years. and, although they aim at a similar car-buying audience, both companies have emphasized vastly different types of vehicles. Ford enjoyed its greatest success selling SUVs during the 1990s, while Toyota remained devoted to cars like the Camry, mid-sized family vehicles that are especially popular now, with the rising cost of fuel.
Today, while under the leadership of CEO Bill Ford (like Toyota, Ford is a family-dominated company in its upper echelons of management) "analysts fear Ford is not keeping pace with the aggressive models planned by rivals. And if….
Flint, Jerry. (2 Aug 2005). "Ford's Fuzzy Future." Forbes.com. Retrieved 28 Jul 2007 at http://www.forbes.com/home_asia/columnists/2005/08/02/ford-gm-backseatdriver-cz_jf_0802flint.html
Toyota Production System Terms." (2006). Toyota Motor Manufacturing. Retrieved 28 Jul 2007 at http://www.toyotageorgetown.com/terms.asp
Mayne, Eric (5 Aug 2005). "Ford Fights to Save Future." Detroit Motor News. Retrieved 27 Jul 2007 at http://www.detnews.com/2005/autosinsider/0508/07/A01-272014.htm
Then, the second sub-target market will be formed from those individuals who register both medium as well as above medium incomes, but care about preserving the environment; these individuals will purchase the fuel-efficient cars.
A new and uncharted target market can be identified and it would consist of those individuals who do not currently own a car, nor did they ever, based on ecological reasons. In this order of ideas, Chery Automotive can address them by presenting the benefits upon the environment of the compact and fuel-efficient hybrids.
Given that the Chinese vehicles will be sold onto the American market, it is only natural to look at the automobile industry from a statistical perspective, such as the classification system implemented by NAICS. From this stand point, the Chinese cars will fall under the category 42311, detailed on 423110 - Automobile and Other Motor Vehicle Merchant Wholesalers. These regulations have been installed….
Official Website of the North American Industry Classification System, 2008, http://www.naics.com , last accessed on February 15, 2008
DesRosiers, D., 2007, an Outlook for the North American Automotive Industry, http://www.cartest.ca/2007_outlook_for_the_north_a.htm , last accessed on February 15, 2008
America's Auto Industry, Weber Chevrolet, Retrieved at http://www.weberchevrolet.com/sale/american.pdfon Febrruary 15, 2008
Sparklin Automotive Costing
Sparklin Automotive Company (SAC) is a leader in the spark plug business and has now developed a revolutionary new product that will enhance that leadership position. The new product allows the company to offer special-order spark plugs for the auto racing industry. The company needs to determine the best method of accounting for this product. The current accounting system is a basic costing system that delivers only basic information to the company's managers. Other systems have also been recommended for adoption to enhance the company's costing knowledge and improve managerial decisions. This memo will discuss some of the options for the new custom spark plug product in particular, taking the approach of comparing the new product with the normal spark plugs the company offers, and explaining why a different accounting system for the new custom plugs would be beneficial.
SAC currently utilizes the process costing method for its….
Accounting for Management. (2011). Job order costing system. Accounting for Management. Retrieved August 27, 2011 from http://www.accountingformanagement.com/job_order_costing.htm
White, M. (2010). Chapter 18: Process costing. Middle City. Retrieved August 27, 2011 from http://www.middlecity.com/ch18.shtml
Balanced Scorecard: Sparklin Automotive Company
By using financial and H measures it is possible to recognize the impact on business performance. These areas of Balanced Scorecard are Accounting and H Performance.
Management recognize that measurements are a necessary strategy to an effective management process. In order to implement new strategies there needs to be improvement in manufacturing processes as well as the level of performance of workers. H is instrumental in providing the resources to raise the skillset of workers by providing training opportunities. Oftentimes management introduces new requirements and quotas for workers without examining the affect of the past guidelines for improvement as to relevancy or even necessity. A balanced scorecard combines an operative measurement guideline that allows SAC to define strategic goals that align to helping drive change in key areas. Some of these areas include production, process improvement, customer satisfaction and market development.
The scorecard supplies management with four different….
Averson, P. (2002). Balanced Score Card Institute: Ethical Perspective. Retrieved September 11, 2011 from http://www.balancedscorecard.org/TheEthicsPerspective/tabid/127/Default.aspx
Pearson. (2009). Balanced scorecard. Retrieved September 10, 2011 from www.csub.edu/~tdoucet/PPTACCT303Chapter19.ppt
Automotive Parts Suppliers Automotive Industry faced a serious decline in production in last few years resulting in concurrent decline in production of vehicle parts. Unfortunately the production and consumption of…Read Full Paper ❯
Automotive Bailout: The three major firms in the United States automotive industry asked the government for a bailout worth $34 billion in December 2008 in order to avoid bankruptcy. These…Read Full Paper ❯
Automotive Industry Current automotive market Current market make up of the global automotive industry: Impact on the American economy Not so long ago, the death knell of General Motors was being sounded by…Read Full Paper ❯
At this stage one does not know which of all the solutions will be the best for solving the problems of the organization. (acing to compete, the automotive…Read Full Paper ❯
Automotive Company: China The automotive industry in China has seen significant growth over the last decades. The country's economic growth has increased the potential for the industry in t his…Read Full Paper ❯
In fact, a hybrid car t is a cross between a gasoline-powered car and an electric car. There are two kinds of hybrid cars. One way is a parallel…Read Full Paper ❯
In times of inflation, typically inflation rates rise. This tends to slow business activity and slow inflation ("Interest rate," 2009). Producer Price Index -- The producer price index is…Read Full Paper ❯
Such changes that influence the automotive industry bring a series of opportunities that the company could exploit. Therefore, the company should focus on Asian markets, where Daimler Chrysler's…Read Full Paper ❯
Business - Management
Automotive industry's value chain is highly dependent on the level of quality management achieved in each phase of supplier validation, sourcing, procurement and demand management, to ensure each customer…Read Full Paper ❯
That means they have to be flexible, and they also have to be open to change, in case they face an emergency or a repair they may not…Read Full Paper ❯
Education - Mathematics
The report develops mathematical model and Excel is ideal spreadsheet to implement a mathematical model because it is developed to carry out a number of iteration. The report…Read Full Paper ❯
Also in contrast to Toyota, Ford boasts a heavily unionized workforce rather than stresses the need for employees to sacrifice for company success. Although both place a premium value…Read Full Paper ❯
Then, the second sub-target market will be formed from those individuals who register both medium as well as above medium incomes, but care about preserving the environment; these…Read Full Paper ❯
Sparklin Automotive Costing Sparklin Automotive Company (SAC) is a leader in the spark plug business and has now developed a revolutionary new product that will enhance that leadership position. The…Read Full Paper ❯
BSC Balanced Scorecard: Sparklin Automotive Company By using financial and H measures it is possible to recognize the impact on business performance. These areas of Balanced Scorecard are Accounting and H…Read Full Paper ❯