Introduction:
The automotive industry is amidst a monumental shift towards sustainability, with electric vehicles (EVs) leading the charge. The EV market is projected to grow from $500.48 billion in 2023 to $1,579.10 billion in 2030 at a CAGR of 17.8% during the forecast period. As the demand for EVs escalates, manufacturers grapple with the twin challenges of meeting market expectations and staying ahead in the innovation race. In this dynamic scenario, Enterprise Resource Planning (ERP) solutions emerge as indispensable tools, orchestrating operations, boosting efficiency, and steering innovation across the entire spectrum of electric vehicle manufacturing - from conceptualization to consumer delivery.
Conceptualization and Design Phase:
The inception of an electric vehicle commences with conceptualization and design, where ERP systems act as enablers for seamless collaboration among diverse teams. Bridging gaps between researchers, designers, engineers, and product managers, ERP facilitates real-time collaboration through the process of Research, Prototyping, New Product Costing, and the creation of Engineering items and Bills of Materials (BOMs). This centralized platform accelerates decision-making and design iterations.
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