The battery supply chain plays a crucial role in powering various industries, from electric vehicles to renewable energy storage systems. But growing demand for EVs, bolstered by continued OEM and government incentives, could mean access to lithium batteries will become severely constrained by as soon as 2025, according to a new article from Automotive Logisitics.
To avoid supply chain bottlenecks related to battery shortages, OEMs must adopt advanced visibility solutions that keep them ahead of any potential shortages. But how exactly can advanced visibility help and what can OEMs do now to ensure they remain in good standing in the future?
Staying Ahead of Shortages with Real-Time Transportation Visibility
As battery demand continues to grow, driven by the increasing adoption of electric vehicles and renewable energy projects, the risk of shortages becomes more likely. The complexities of global supply chains, along with the need for precise timing and coordination, demand a proactive approach to ensure a steady and reliable supply of batteries.
project44’s real-time transportation visibility solution offers an advanced platform that empowers businesses with accurate and up-to-date data on their supply chain operations. By leveraging cutting-edge technology, project44 enables companies to track and monitor their shipments in real-time, providing unprecedented visibility across the entire transportation network.
Data-Driven Decision Making
The success of any supply chain relies on informed decision-making, especially in the face of potential shortages. project44’s solution collects and analyzes vast amounts of data, offering valuable insights that help businesses anticipate, plan, and respond to disruptions effectively. So, while project44 won’t mitigate the shortage itself, our platform can certainly help OEMs be better prepared. By harnessing this wealth of information, companies can identify potential bottlenecks, optimize routes, and proactively address any supply chain challenges that may arise – leading to fewer air expedites, line shutdowns, and other unexpected costs.
Efficient Inventory Management
Real-time transportation visibility allows businesses to have complete visibility into the movement of goods throughout their supply chain. This level of insight enables companies to streamline inventory management by accurately tracking the location, ETA, and condition of battery shipments. By minimizing inventory holding costs and optimizing storage capacity, businesses can operate more efficiently and avoid unnecessary inventory shortages.
Collaboration and Risk Mitigation
project44’s platform facilitates collaboration among stakeholders within the battery supply chain. By sharing real-time data with partners, suppliers, and customers, companies can proactively address potential bottlenecks and work together to find alternative solutions. This collaborative approach helps to mitigate risks and strengthens the overall resiliency of the supply chain.
Adapting to Changing Conditions
The battery supply chain is dynamic, with market conditions, regulations, and geopolitical factors continuously evolving. project44’s real-time transportation visibility solution equips businesses with the agility they need to adapt to these changes swiftly. By receiving real-time alerts, updates, and predictive analytics, companies can proactively adjust their strategies, identify alternative suppliers, and optimize their supply chain network to avoid disruptions.
So, while potential battery supply chain issues have yet to arise, it’s important for auto OEMs to stay ahead of any looming shortages. project44’s real-time transportation visibility solution offers an unmatched platform for companies to gain end-to-end visibility into their supply chains. By harnessing accurate and timely data, businesses can make informed decisions, optimize inventory management, and collaborate effectively with partners.
By leveraging project44’s solution, companies can proactively address the challenges of the battery supply chain and beyond to ensure a reliable and uninterrupted flow of supplies vital to their bottom line.