Automotive Components Industry Research Articles

An Analysis of Working Capital Management with Reference to Wheels India Limited

Exploring the intricacies of working capital management is pivotal due to its fundamental significance in the realm of corporate finance and business operations. Effective management of working capital is crucial for ensuring the financial health, operational efficiency, and long-term sustainability of organizations across industries. This research paper aims to provide a comprehensive analysis of working capital management, with a specific focus on its implications for company performance and success, The rationale behind this topic lies in the recognition of working capital as a critical aspect of financial management that significantly influences a company's liquidity, profitability, and risk profile. By investigating working capital management, this research seeks to shed light on the strategies, practices, and challenges associated with optimizing the balance between current assets and liabilities within an organization. Moreover, the selection of Wheels India Limited as a case study offers a practical and insightful perspective into the real-world application of working capital management principles within the automotive components sector. As a prominent player in this industry, Wheels India Limited presents an ideal opportunity to examine how working capital management strategies are tailored to address the unique dynamics and requirements of its business environment. Through this research paper, the aim is to explore various facets of working capital management, including inventory management, accounts receivable and payable management, cash flow optimization, and the use of financial ratios and metrics. By conducting a thorough analysis of Wheels India Limited's working capital practices, valuable insights can be extracted, best practices identified, and recommendations proposed to inform decision-making processes for practitioners, policymakers, and stakeholders alike. In essence, this research endeavor contributes to the existing body of knowledge on working capital management while offering actionable insights to empower organizations to enhance their financial performance, mitigate risks, and achieve sustainable growth in today's dynamic business landscape. Working capital management stands as a cornerstone of financial strategy for companies across industries, serving as a vital determinant of their operational efficiency, financial health, and overall competitiveness. Within this realm, the automotive components industry presents a dynamic and complex landscape, characterized by evolving market dynamics, technological advancements, and stringent quality standards. Amidst these challenges and opportunities, Wheels India Limited emerges as a prominent player, re410nowned for its longstanding legacy of excellence, innovation, and customer-centric approach.

The Influence of Organizational Culture, Alliance Partners, Digital Capability on Firm Performance Mediated by Strategy Flexibility

Aims: The study examines the effects of organizational culture, alliance partners, and digital capability on firm performance, mediated by strategy flexibility in the national automotive component industry in Indonesia.
 Study Design: The data collection technique was non-probability sampling with purposive sampling method in which the number of samples that met the criteria to be analyzed were 228 companies.
 Place and Duration of Study: The population of this study were all automotive component companies located in Jakarta, Banten and West Java, totaling 237. Each sampled company is represented by one respondent, namely a manager or senior manager of an automotive component industry company.
 Methodology: Structural Equation Model (SEM).
 Results: These findings suggest the importance of flexible strategies for leveraging internal and external resources to enhance performance. Strategy flexibility partially mediates the effects of organizational culture and digital capability on firm performance, and fully mediates the effect of alliance partners.
 Conclusion: This study shows the results of the positive influence of Organizational culture, Alliance Partners, Digital Capability, and Strategy Flexibility toward Firm Performance. Strategy Flexibility as a mediating variable can mediate the effect of Organizational Culture, Alliance Partners and Digital Capability on Firm Performance. The implications of this research can be an input for the leaders of the national automotive component industry companies in making a strategic decision to face the challenges of increasingly complex business competition through the implementation of a flexible strategy in the services and processes of the manufacturing industry which has implications for improving company performance.

Tailoring the Mechanical Properties of X–C–Si (X = Al, Mg) Alloys for Aerospace and Automotive Industries: An ab Initio Study

Silicon carbide (SiC) is a strong and adaptable material that has a good number of uses, including in the automotive industry for power electronics and electric vehicle components; abrasive material used in grinding and cutting; and in the production of refractory materials. These applications are due to the superior properties of SiC, which include high hardness, chemical inertness, and mechanical strength. However, its brittleness, low fracture toughness, as well as relatively high density hinder it from being applied in other areas such as in making bodies of airplanes as well as automobiles. Through careful alloying with lighter materials, this shortcoming can be addressed. Using an ab Initio approach, this study examined the mechanics of magnesium (Mg) and aluminum (Al) alloys with SiC as a potential candidate for the automotive and aerospace industries. Al or Mg atoms were substituted for some of the carbon atoms in the SiC to complete the alloying process. The results showed that the alloys had lower bulk moduli, shear moduli, Youngs moduli, and density compared to those of SiC. However, their ductility and fracture toughness increased. Although the mechanical properties reduced, they were found to be still much better than those of the common alloys for the aerospace. The alloys were thus found to be suitable for the construction of the shell of the airplanes, owing to their superior ductility and fracture toughness.

A Network-Multi-Criteria Decision Analysis with Super Decision for Vendor Selection in the Automotive Component Industry

A Network-Multi-Criteria Decision Analysis with Super Decision for Vendor Selection in the Automotive Component Industry

A Web-based Point of Sales for Automotive Component Industry using Rapid Application Development model

This research aims to increase efficiency in Micro, Small, and Medium Enterprises (MSMEs) in the automotive components industry, focusing on CV Bengkel Megamakmur. This workshop is one of the MSMEs engaged in Indonesia's car spare parts industry. In the ongoing business process, these MSMEs need some help in inventory management, stock of goods, and less integrated sales transaction recording. The main problem identified was the discrepancy between the number of products sold and sales transaction reports. A web-based Point of Sale (POS) application was implemented, which allows the integration of inventory data and sales transactions. The method used in this research is Rapid Application Development (RAD), suitable for projects with limited resources and short work schedules. This research results in a Point of Sale application that can optimize business processes for managing inventory by monitoring stock and recording sales transactions in an integrated manner. This application has been tested using the System Usability Scale (SUS) method and obtained an average score of 86.6, included in the "very good" category. The test results show that this application has good functionality and can optimize MSME business processes in the automotive components industry.

A Systematic Literature Review of Six Sigma Implementation on the Automotive Component Industry

The main purpose of this white paper is to analyze current research on Six Sigma in the auto parts industry and identify opportunities for further research. This study used a systematic literature search of the most recent scientific articles (2013-2022) searched using specific inclusion and exclusion criteria. His two main categories of research goals emerged. The development of Six Sigma and the impact of Six Sigma. In recent years, research on the impact of Six Sigma is the most popular and has always been there from year to year, while research on the development of Six Sigma is the least popular. The study can provide insights to researchers, consultants and quality managers in developing and implementing Six Sigma in the automotive components industry sector. This research found that there is a lot of research on the complete Six Sigma methodology in the automotive component industry, especially research on the impact of implementing Six Sigma. From these findings, the main avenue for future research can be identified, namely Six Sigma Digitalization.

PDCA Method Implementation to Reduce the Potential Product Defects in the Automotive Components Industry

The research aim to reduce the potential for product defects in the automotive component industry by implementing Plan-Do-Check-Action (PDCA). The application of the PDCA method was carried out in an automotive component manufacturing company in Indonesia which produced SLJ 91 parts as a research object. The causes of the high number of product defects are known at the Plan stage from setting the theme of improvement to the root cause by using a fishbone diagram and 5W+1H analysis. In the Do stage, system improvements are implemented from the solutions generated by the 5W+1H analysis. The repair results are controlled to confirm the results of the repairs made. The corrective actions taken resulted in a reduction in product defects of 2.8% so that they were included in the maximum tolerance for the number of defects in the SLJ 91 part. Based on the results of data processing, analysis, and comparison between before and after implementation, it was found that the defect rate for SLJ 91 products was reduced from 10.8 % to 8%, a reduction in the percentage of 2.8% so that the product reaches the quality target it should be. The results of the repair had a direct impact on the type of dent defects, namely a decrease in the number of defects from 8.6% to 5.3%, so that there was a decrease of 3.3%. The results of the research are implemented and standardized in the action stage so that the improvements made can be maintained in the long term.

DETERMINAN STRUKTUR MODAL PADA PERUSAHAAN INDUSTRI KOMPONEN OTOMOTIF DI BURSA EFEK INDONESIA

Capital structure is a comparison between debt and company capital. Capital structure is important to consider to avoid financial difficulties. The aim of this study is to determine the effect of profitability, asset structure, firm size, and growth rate on capital structure. This research was conducted at automotive component industry companies that are listed on the Indonesia Stock Exchange for the 2016-2020 period. The data used is quantitative data with secondary data sources published by the Indonesia Stock Exchange. The samples used in the study were 10 companies through purposive sampling methods. This study used non-participant observation methods. The analysis technique used is multiple linear regression. Based on the results of the analysis found that profitability, company size, and growth rate had no effect on capital structure, and asset structure had a positively affects on capital structure. Management is expected to be able to make the right decisions in order to achieve an optimal capital structure.

Multicriteria evaluation of technological competitiveness in diversification processes. An application to the automotive components industry

AbstractConsidering technological competitiveness in diversification processes as the existence of key technologies that guarantee the current and future effective running of firms in terms of their technological and operational potential, this paper presents a multicriteria approach for its evaluation and provides an index for measuring the technological competitiveness of diversification processes. The application of this multicriteria approach, based on the analytic hierarchy process, in three real technological diversification processes allows (i) the validation of the hierarchical model (five levels and 25 attributes) and the index (73 indicators) proposed for evaluating the technological competitiveness; (ii) the use of this hierarchical model and index to confirm the suitability of the diversification process and to extract knowledge related to the technological and operational potential of the firm; and (iii) the exploitation of this knowledge in order to guarantee the long‐term survival of automotive components industry's firms. The methodology finds the most relevant attributes in the automotive component sector (innovative capacity and activity, good functioning of the management and finance departments). Its practical application determines the firm's suitability for a diversification process, identifies the attributes that require some improvement, and the decision opportunities. After 5 years, the three companies that have been studied showed a behaviour aligned with the values and recommendations of the index developed to assess technological competitiveness. The main limitation lies in the difficulty of studying companies if they change or disappear in the future.

Formalising human resource practices in a family-centric business: the case of Precision Engineering

Learning outcomes After studying the case, the students will be able to: 1. understand the business and existing HR practices at Precision Engineering; 2. evaluate the factors affecting business that may require the company to formalise its HR practices; 3. create recruitment and selection-related solutions for HR 2.0 using appropriate models and theory to aid the company meet its business goals; 4. create training needs identification and evaluation practices for HR 2.0 using appropriate models and theory to aid the company meet its business goals; and 5. create performance planning and review-related solutions for HR 2.0 using appropriate models and theory to aid the company meet its business goals. The case helps students objectively assess HR practices related to three core verticals – recruitment and selection; training; and performance management systems. It also enables them to reassess these practices with the help of specific metrics and models. Case overview/synopsis Precision Engineering was a manufacturer of machined metal components in the Indian automotive components industry. It had been a family-run business since its inception in 1995. Precision was awarded the prestigious Automotive Component Manufacturers of India award in 2020 for excellence in HR. Ms Sakshi Kapoor, General Manager of Innovation, was ecstatic at the receipt of this award. She, however, was thoughtful about the informal human resource (HR) practices at the company. The top management had announced an aggressive growth plan and advised Ms Kapoor to leverage HR practices to facilitate these plans. Recruitment and selection, employee training and performance management systems needed to be formalised on a priority basis to strategically aid the future business agenda at Precision. Ms Kapoor faced the challenge of preparing the roadmap of HR 2.0 while preserving the employee-centric beliefs at Precision. The case initiates a discussion to achieve this goal by adopting suitable HR metrics and models. Complexity academic level It should be taught in the core course on Human Resource Management for first-year Masters in Business Administration (MBA) students. Alternatively, it could be used in elective courses such as Strategic Human Resource Management, Training and Development and Performance Management Systems for second-year MBA students. Supplementary materials Teaching notes are available for educators only. Subject code CSS 6: Human Resource Management.

Rancangan Model Konseptual denganTheory of Contraints untuk Menyeimbangkan Lini Produksi dan Meningkatkan Output pada Industri Komponen Otomotif

Nowadays, competition among manufaktur industries is increasing rapidly. This competition causes similar industries to compete, including the automotive component industry. To win the competition, the automotive component manufaktur industry must carry out various repair methods. Improvements made include managing inventory, scheduling, delivery, quality management and eliminating waste. Based on observations, problems that often occur in the automotive component manufaktur industry are not achieving production output and unbalanced production lines so that problems such as waste and bootleneck arise. The purpose of this research is to design a model on the production line to increase production output and balance the production line. The method used to analyze and solve this problem is to design a conceptual model of Theory of Constraints (ToC). This method interprets structured and systematic stages to solve problems in the manufaktur industry. Based on the analysis, the results of this study produce a generic model that can be used in the automotive component industry. The models offered can increase production output, balance workloads and eliminate waste.

Analysis Of Overall Equipment Effectiveness (Oee) And Determining Six Big Losses To Increase The Effectiveness Of Lb 02 Lath

Breakdown is one of the problems faced by the manufacturing company PT. Bakrie Autoparts which is engaged in the Disc Brake automotive component industry for four or more wheeled vehicles. There was a breakdown on the LB 02 lathe an average of 42.5 hours per month that exceeded the tolerance limit determined by the company which is 25 hours per mont causing the production target not to be achieved. Based on this, research is carried out which aims to calculate the Overall Equipment Effectiveness (OEE) value, determine the most dominant type of Six Big Losses, and provide suggestions for improvement efforts to increase the effectiveness of the LB 02 lathe. The results showed the average value of Overall Equipment Effectiveness ( OEE) lathe LB 02, which is 81.43%, then this value is included in the moderate condition which includes an availability rate of 86.80%, a performance rate of 94.15%, a quality rate of 99.70%. Equipment Failure Losss is the most dominant in influencing the decrease in the effectiveness of the LB 02 lathe with an average value of 8.40% with an influence percentage of 46.41%. Proposed improvements include checking the source and supply voltage every day before starting the production process, checking and replacing engine parts, especially belts once a week and every 3 months for replacement, and checking the condition of lubricating oil and coolant every day after the production process.
 Keywords: Overall Equipment Effectiveness (OEE), Six Big Losses, Breakdown.

Linking competitive priorities, smart manufacturing advancement and organizational microfoundations

PurposeSmart Manufacturing (SM) lies at the core of Industry 4.0. Operations management research has investigated the determinants of SM advancement but there is still limited understanding of the linkages between SM and organizational factors and about whether both the technological and organizational subsystems for SM are guided by firms’ competitive priorities. To close these gaps, building on operations strategy theory, this paper aims to empirically test a model positing that competitive priorities drive SM advancement. The relation between competitive priorities and SM advancement is assumed to be mediated by organizational microfoundations.Design/methodology/approachUsing data from a single respondent survey with 234 firms in the automotive component industry, structural equation modeling is adopted to test the model hypotheses. Relevant constructs are measured with reference to the lead plant for SM.FindingsFindings highlight that SM advancement is driven by the need to simultaneously compete in terms of cost, quality and delivery, thus suggesting that manufacturers view SM as a mean to develop multiple manufacturing capabilities. Organizational microfoundations fully mediate the relation between competitive priorities and SM advancement.Originality/valueResults have implications for SM research, as they provide an understanding of the strategic priorities of firms engaging in SM. Findings also bear relevance for manufacturing executives engaged in the SM transformation, as they provide quantitative evidence that shaping an adequate organizational environment is a prerequisite for SM advancement.

QUALITY IMPROVEMENT IN THE MOLDING MACHINE PROCESS WITH SIX SIGMA APPROACH AND DIGITALIZATION IN THE AUTOMOTIVE COMPONENT INDUSTRY

The increasing market needs in the automotive industry affect the automotive component industry. So it is necessary to support the achievement of automotive industry sales. Industry automotive components most use molding machine production lines. But in the process, many experienced several problems, namely defective products due to unstable mold temperature factors. Quality improvement research was carried out on the process of a 150-ton hydraulic type vertical type molding machine that makes the product keypad design 021#1 with a six sigma and digitalization approach. The results of the stages of the DMAIC method found factors that affect defects in low force and high force type products, namely the problem of unstable temperatures. The application of mistake proofing and digitalization with the website is carried out as an improvement for its prevention. The Six Sigma application succeeded in reducing defective products from 2,279 to 2 pcs or increasing sigma from 3.4 to 5.6 sigma

Infrastructure Development in Chennai Automotive Components Industry Cluster

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Profitability of Ichimoku-Based Trading Rule in Vietnam Stock Market in the Context of the COVID-19 Outbreak.

Ichimoku Kinkohyo or Ichimoku Cloud Chart is one of the most popular technical indicators used by traders all over the world. However, its profitability is heavily influenced by the market environment, to which it is applied. Furthermore, the COVID-19 outbreak may have an impact on the market environment as well as the performance of all technical indicators. This study is the first to look into the profitability of Ichimoku-based trading rules in the Vietnamese stock market in the context of the COVID-19 outbreak. More particularly, the COVID-19 outbreak has a positive influence on the performance of this strategy when considering the entire market as well as a variety of industries including real estate industry, food and beverage industry, resource industry, and automotive and electronic components industry. Compared to the pre-pandemic period, the return on investment obtained per each transaction using the Ichimoku-based strategy increased by roughly 8-9% in the pandemic period. Compared to the Buy-and-hold method, the Ichimoku-based strategy could slightly increase Accumulated return while posing a lower risk. The findings indicate that the Ichimoku-based strategy is applicable to the Vietnam stock market, regardless of the adverse effects of the pandemic on the industries.

A Study on Additive Manufacturing for Electromobility

Additive manufacturing (AM) offers the possibility to produce components in a resource-efficient and environmentally friendly way. AM can also be used to optimise the design of components in mechanical and physical terms. In this way, functionally integrated, lightweight, highly efficient, and innovative components can be manufactured with the help of additive manufacturing in terms of Industry 4.0. Furthermore, requirements in the automotive industry for drivetrain components are increasingly being trimmed in the direction of efficiency and environmental protection. Especially in electromobility, the topic of green efficiency is an essential component. Exhaust emission legislation and driving profiles for evaluating vehicles are becoming increasingly detailed. This offers the potential to apply the advantages of AM to vehicle types such as conventional, utility vehicles, and nonroad mobile machinery (NRMM), independent of the electrical drivetrain technology (hybrid or fully electrical). AM also allows for us to produce optimally adapted components to the respective requirements and use cases. In this review, the intersections of AM and electromobility are illuminated, showing which solutions and visions are already available for the different vehicle types on the market and which solutions are being scientifically researched. Furthermore, the potential and existing deficit of AM in the field of electromobility are shown. Lastly, new and innovative solutions are presented and classified according to their advantages and disadvantages.

Evaluation of Lean Manufacturing Practices in an Automotive Component Manufacturer

Purpose: This study aims to evaluate lean manufacturing (LM) practices used in a company in the automotive component industry located in Polo Industrial de Manaus (PIM), a manufacturing hub in the city of Manaus. Theoretical framework: The AME Lean Assessment instrument was used as the research framework in this study. This instrument was developed by the Association for Manufacturing Excellence (AME) to benchmark where a company is on its lean journey.Design/methodology/approach: An exploratory case study was carried out, and since a more detailed study was needed, a research framework was used, composed of 14 attributes on lean manufacturing.Findings: The findings point to a high level of LM practices adopted by the company, in addition to allowing the practical application of the fundamental concepts to be observed for the Toyota Production System (TPS) at Polo Industrial de Manaus. The findings have increased the understanding in organizational behavior relating to LM.Research, Practical & Social implications: the study contributes to the body of knowledge on lean manufacturing considering its application in the Amazonian context. The study has made a substantial contribution to the understanding of lean manufacturing in the context of an important industrial park in Brazil. Originality/value: Originality is the adoption of a research framework for evaluating lean manufacturing practices in an Amazonia context, allowing the specific characteristics of lean manufacturing to be understood in Amazonia, from an in-depth case.Keywords: Lean manufacturing; Lean Assessment; Industry; Automotive components; Amazonas.

Effects of Business-Group Affiliation Overseas Investment and Technology on Firm-level Export Intensity: Evidence from Indian Automotive Component Industry

Based upon a sample of 78 firms operating in Indian automotive component industry for the period 2000–2018, this research empirically examines the role of business-group affiliation, overseas investment and technology in determining exports. It applies panel Tobit and Probit model estimated with the maximum likelihood estimator. This research finds that technology imports, firm’s age, overseas investment and affiliation to a business group significantly affect industry’s export performance. However, some variables, such as past R&D intensity, firm’s size and companies with overseas investment and being part of a group have been found to have had a detrimental effect. All these results show that being outward-oriented in terms of overseas investment and being affiliated with a business group makes a significant difference concerning export success.

Impact of Government Policy Measures on Small and Medium Enterprises of Automotive Component Industry Working in Pune Auto Cluster

The government policy has a huge nexus with the development of the industrial sector and with the development of any specific industry. The automotive component industry is not an exception to this. This paper reviews the impact of policy measures adopted by the government pertaining to the automotive component industry in India on the small and medium enterprises of Pune Auto Cluster. The sample of 170 small and medium enterprises was considered to know their opinion about the government policy through a structured questionnaire based on the Likert scale. The technique of factor analysis is used as a construct validity tool and to reduce the number of variables into a few factors to understand the impact of government policy on small and medium enterprises in a better manner. The impact of government policy is remarkable on small and medium enterprises. Medium enterprises are affected more than the small enterprises in the case of regulatory policy measures. However, both small and medium enterprises perceived the operational policy measures equally. Small-scale industries have more impact of the difficulty in receiving benefits of any government schemes like duty drawbacks. On the other hand, medium enterprises perceived Goods and Services Tax and the tax policy as the most troublesome policy measures.