Industry Analysis
Linking industry pain points to business impact
To gain a holistic understanding of potential risks within the automotive industry, SGS has developed a methodology that utilizes our compliance data to identify the industry’s top pain points and business impact events. This analysis is based on data collected from IATF 16949, the top standard for quality management systems for automotive manufacturers. The following graphic highlights this process by identifying:
- Top industry pain points
- Impact events most likely to occur
- Impact areas with the highest business risk
Determining the business impact of these risks
With our automotive industry analysis, SGS is able to identify trends in our clients’ data points and detect threats and areas of improvement. Each standard clause and its corresponding data points are reviewed, allowing us to discover the top pain point areas an automotive manufacturer might face.
Our methodology identifies the top five industry pain points based on the number of occurrences within our data set. Our technical and industry experts then map each pain point to the events most likely to negatively affect operations (impact events). This enables us to identify the risk level of the four main impact areas of an organization. The following graphic showcases this process for the automotive industry and identifies legal complications as the highest risk factor.
Our analysis indicates that the events with the highest risk revolve around product quality and customer satisfaction. These include:
- Product recall
- Product nonconformity
- Customer complaints
- Cost increases
- Logistics delays