Automotive and Transportation
Suffering a setback caused by the global economic crisis, the automotive industry has jump started a recovery process after a series of restructuring and strategic planning to get the industry back on track.
The automotive industry is subject to many challenges such as climate change, regional customers’ preference, regional economic trends, scarcity of resources, regional regulatory requirements, change in demographics, complexity and quality supply chain; in addition to the need to be agile and innovative enough to keep up with the technological advancements and ensure business sustainability.
We are witnessing a shift towards smart vehicles and higher dependence on electronics and complex software, which are pushing OEMs to expand their supply chain to suppliers in the technology sector outside the traditional automotive engineering circles, which is adding another burden to the industry and possibly the need to fund research and development and such suppliers to obtain the innovative technology that would provide them with an edge in the market.
Regulatory requirements are proving to be more challenging, both administratively and financially, 2015 and 2016 have witnessed serious hits to some of the automotive industry’s big names such as Volkswagen, Mitsubishi, Nissan and Toyota due to failures in the supply chain and non- compliance with the regulatory requirements.
At RISKTAL our expertise in the risks associated with the automotive industry associated with our innovative solutions would position us in a front seat to partner with you and assist in a select of our professional services:
- Supply chain solutions.
- Risk management solutions.
- Performance audits.
- Compliance management services.
- Business continuity planning.
- Technology risk management.
- Innovation and creativity solutions.
- Internal audit services.
- Human capital advisory.
- Development and/or review of policies and procedures manuals.
- Forensic data analysis.
- Fraud and corruption prevention services.
- Business model transformation.
- Professional training and awareness campaigns.