Unlocking the Potential of the Automotive OEM Service Parts Market

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1 Unlocking the Potential of the Automotive OEM Service Parts Market Abstract In 2001, GM's $9 billion in profits from aftermarket service parts sales exceeded the profits associated with $150 billion of new vehicle sales.¹ Likewise, OEM truck manufacturers consistently report that while aftermarket service parts sales only amount to 35% of their total sales, they represent 65% of their profits. Aftermarket service parts sales are the most profitable sales area for automotive and truck OEMs. As a result, the market for service parts is highly competitive among OEMs, as well as wholesale and retail distributors of all sizes. In this environment, customer service is key and having the 'right product at the right place at the right time' trumps price every time driving superior profit margins to OEMs and distributors alike. For the OEM, the aftermarket is as great a challenge as it is an opportunity. In this paper, we look at the traditional hurdles OEMs have faced in this area, and suggest a new approach to unlocking the potential of the service parts market.

2 Conventional Service Parts Initiatives by Automotive OEMs Meet with Resistance Financial analysts and automotive industry journals are well aware of opportunities for OEMs to increase earnings per share based on increases in aftermarket parts sales. By leveraging technology and sheer market might, OEMs have continuously sought new opportunities to increase aftermarket service parts sales and market share. However, challenges exist. For example, unlike in some other regions around the world, car dealerships in the US operate as independent franchises, responsible for their own profits and losses. This limits the OEM's leverage over dealerships, to encourage them to participate in initiatives aimed at increasing the OEM's service parts revenues. Equally important, OEMs are not the only potential source for service parts. Large auto parts wholesalers, retail chains and thousands of 'mom and pop' parts stores are also keen to supply dealerships with service parts. Recognizing this competition, OEMs have attempted several measures to bolster dealership service parts sales. GM, for example, has attempted to incentivize dealers to increase their inventory of GM parts. However, these programs have been received coolly by dealers who complain that the cost associated with the increased inventory levels, required to hedge against uncertainty in demand, often exceeds the value of the GM incentives.² Moreover, here too OEMs face competition from non-oem players who offer own incentive pricing programs and customized delivery programs and services. As a result, OEMs are continually seeking programs that clearly demonstrate value and performance to dealers. As with most relationships, mutual benefit and trust are the key levers of success. While it may sound simple for an OEM to simply offer to buy back what the dealer does not sell, the increased administrative costs, logistics costs, and opportunities for revenue leakage ultimately eliminate any perceived or realized gains. Without significant change in this environment, OEMs may continue to face major obstacles to unlocking the financial opportunities that exist within the automotive aftermarket.

3 Digital Technologies Create New Opportunities One reason for the lackluster results of automakers' attempts to increase sales of spare parts is the excessively high inventory levels and costs required to hedge against the high uncertainty of demand. However, recent advances in digital technologies can provide new capabilities to sense and anticipate demand far more accurately, creating new opportunities to improve service parts inventory management and supply chain efficiency. The convergence of the 'Digital Five Forces' (mobility and pervasive computing, Big Data and analytics, cloud computing, artificial intelligence and robotics, and social media) with the 'connected car' trend is transforming the supply chain by enabling more robust data and analytics for improved planning, forecasting, inventory modeling, and logistics execution. Consequently, automotive OEMs can now utilize more scientific and lean supply chain models, similar to how they have already optimized the supply chain for vehicle assembly operations. Capabilities in four major categories will result in a dramatically more efficient service parts supply chain a supply chain tuned to marketplace demand: Big Data Market Insights Enable near real-time detection of demand Connected Vehicle Collect Discover Share Mileage Usage Onboard Diagnostics Field Discovery Platform With Sales n Customer Needs n New Offer Insights Daily Demand Sensing Social Media Dealer Data Distribution Center Data Other External Data Suggestions Likes Complaints n Big Data Analytics n Structured and n Unstructured Data n Discovery of Trends and Insights With Planning n Update Forecast n Demand Tuning With Engineering n Ideas n Issues n Change Requests

4 WHITE PAPER Integrated Business Planning Align the entire enterprise to demand ü Consistent ü Optimized ü Aligned to Demand Integrated Business Plan Demand Create Collaborative Forecast Develop cross-functional enterprise forecast Supply Determine Optimal Levels Optimize the Forecast Consider unique service parts requirements Ensure Operational and Financial Alignment Optimize purchasing and Consider impact of operational production plans and financial constraints Optimized Order Management Leverage a Distributed Order Orchestration Hub to dramatically improve order management efficiencies Capture DMS (Multiple) Technician Direct Order E-Commerce Partner Portal EDI Heterogeneous Order Capture Systems Web Services Orchestrate GOP Manage Availability Distributed Order Orchestration Decompose Order Orchestrate Fulfillment Transform Transactions Manage Visibility Manage Exceptions Centralized. Fulfillment Rules Allocation Rules Order Visibility Web Services Fulfill ERP or Legacy Fulfillment DC #1 DC #2 Dealer #1 Dealer #2 Heterogeneous Fulfillment Systems Agile Fulfillment and Logistics Align warehouse and transportation operations to demand Warehouse Operations Inbound Transportation Operations/3PL RMAs Purchases Transfers Receive Inspect Cross-Dock/ Put-Away RF Support Assemble Cost WIP Issues Replenish Tailorable Rules & Workflow Process Transfer Count Move Outbound RTVs Orders Transfers Label Ship Pack Directed Pick Global Visibility Synchronize transportation planning arrival/departure information with warehouse management wave planning and dock scheduling Reduce latency through mobile supply chain applications Transportation Operations/3PL

5 A New OEM-Dealership Collaboration Paradigm Based on the large profit margins associated with the automotive aftermarket, OEMs are increasingly looking to grow service parts sales as a means to improving overall financial performance. Next-generation IT application software now exists to align and optimize the automotive service parts supply chain to actual market demand, with dramatic improvements to supply chain efficiency and responsiveness without increases in inventory. Utilizing these new technologies, OEMs can confidently offer dealers delivery windows and guarantees. By reducing delivery times and increasing delivery frequencies, dealers can lower inventory levels, thereby reducing inventory carrying costs and obsolescence risks. For OEMs, the increased availability of genuine OEM parts will reduce loss of sales to competitors when OEM parts are out of stock or unavailable. With increased responsiveness without additional costs, OEMs can competitively increase their market share and profit opportunity. Conclusion To unlock the treasure chest associated with aftermarket parts, automotive manufacturers should embark on a small pilot software implementation program. This project should focus on a controlled geographic segment containing a community of willing dealerships. Further, these dealerships should reside within a defined distance from a service parts distribution center. The pilot should leverage cloud computing' and Software-as-a-Service (SaaS) applications and services to minimize pilot cost and risk. Today, SaaS supply chain applications and managed services can eliminate most of the IT, development, and cost constraints of the past. Automotive OEMs can choose from many software and services solutions and options. References [1] Harvard Business Review, Winning in the Aftermarket, May 2016, accessed on August 5, 2016, [2] Crain's Detroit Business, GM wants more parts at stores, but dealers object to carrying costly inventory, April 2013, accessed August 2016,

6 About The Author Richard J. Sherman Senior Fellow, Supply Chain Center of Excellence, Tata Consultancy Services (TCS) Rich Sherman is an internationally recognized author and thought leader on trends and issues across supply chain management. Michael Ger Senior Director, Automotive at Oracle Global Industry Solutions Group Mike Ger has 26 years of experience working in industry and Information Technology strategy roles. He has deep cross-industry knowledge in product development, supply chain and customer relationship management business processes. Contact Visit TCS Enterprise Solutions unit page for more information Blog: Enterprise Insights Subscribe to TCS White Papers TCS.com RSS: Feedburner: About Tata Consultancy Services Ltd (TCS) Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT and IT-enabled, infrastructure, engineering and assurance services. This is TM delivered through its unique Global Network Delivery Model, recognized as the benchmark of excellence in software development. A part of the Tata Group, India s largest industrial conglomerate, TCS has a global footprint and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at All content / information present here is the exclusive property of Tata Consultancy Services Limited (TCS). The content / information contained here is correct at the time of publishing. No material from here may be copied, modified, reproduced, republished, uploaded, transmitted, posted or distributed in any form without prior written permission from TCS. Unauthorized use of the content / information appearing here may violate copyright, trademark and other applicable laws, and could result in criminal or civil penalties. Copyright 2016 Tata Consultancy Services Limited TCS Design Services I M I 12 I 16

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