Table of Contents Literature Review 1 Gap Analysis 4 References 4 Literature Review As the automotive industry is known to be the spunk in many developed economies for instance: USA, Europe, Germany, Japan etc. But still due to thedynamic business environment that results in increasing thechange in customers, themarket share of automotive industry, product challenges, regulations. This study addresses the ways to increase the quality, flexible manufacturing plants, supply chain, handle the complexities in technology and retain competitiveness in the market. The results show that most significant way to increase the effectiveness in theautomotive industry is remanufacturing i.e. it makes the strong relationship between the parts, components, and industry itself, as this will create the substantial growth of the economies. Moreover, the remanufacturer can reproduce the parts or products and generate new sales for car manufacturing, which will increase the overall market share (Peters, Lanza &Xiaoning, 2014). As the evolution of the car manufacturing is categorized by the various technologies, innovations, processes and production system, with the result in achange in management style, thedesign of the product. Time usage cost involved and retain the quality is the most significant sources. With this, the producersneed to evaluate the resources and use the m effectively to reduce production waste. This would encourage the companies to adopt industrial ecology , which will be helpful in obtaining the objectives and goals. As the new models related to management are used to reduce the rising complexities (improve administration processes, logistics, and improvement in lead time). The will enable the companies to manufacturer newer products as compared to their competitors, which gives positive effect to improve the profitability and market share with the reduction in logistics and production process. Hence, the use of industrial ecology and lean manufacturing will be helpful in reduction in waste by reducing the cost of production (Simboli, Taddeo &Morgante, 2014). The study comes to the point of analyzing the importance of automotive industry in the development of the country economy. The study will focus on: the possibility of improving the manufacturing competitiveness which will gain the use of less cost and save the cost of production or manufacturing. The results come to the point that the technical tool of cost modeling is vital for enhancing the performance of automotive manufacturing unit. As this tool will help the company in finding the critical area to further improvement in the production process. Moreover, this study assumes the five levels i.e. market share, the attractiveness of the product, improvement in operations, profitability etc. (MONTEIRO , 2001). This study will address the importance of strategic quality in the automotive parts in the manufacturing system. As some suppliers are facing problems related to quality. The suppliers try to make a good relationship with the automotive manufacturers to increase the sales of thedomestic car. As due to issues in quality processes, this would develop conceptual frame work towards the increasing quality. So, due to globalization, an automotive industry will gain an opportunity to further improvement with the use of statistical tools like Six Sigma and TQM (total quality improvement) for improvement in theproduction process. So, this will gain large market share to maximize the domestic sales of thecar (A. Talib, Munisamy& Ahmed, 2012). The study claims that the production cost relies on the long-term cost so as to achieve the price in long term. This predicts that the long-term prices are most often tends to depend upon the demand factors that play a vital role in the setting the pricing behavior. As they focus on the particular demand for the particular product. Hence, the changes in price is determined at which the firm is able to sell their output (Riley, 2000). This proposed the effect of various types of cost on the performance of manufacturing companies. As due to thedifference in cost behavior the economic difference is also gets affected. This will lead to change in the cost structure of manufacturing companies and affect the performance. This will high light the recent issues in costing methods. The results reveal that the manufacturing companies are looking forward to reducing the cost of production, due to recent global trends and dissemination of new technology products. Moreover, it seems that the indirect cost will make a 40% increase in the share.But still “sticky cost” is known to be the complex and this consider the most important cost behavior as a form of analysis of profits (Novák&Popesko, 2014). As the study will examine the relationship with cost management practices which focus onincreasing the performance of manufacturing companies. The study has focused on some manufacturing companies. Where production cost, labor cost etc. are taken as independent variable and profitability or market share is taken as dependent variable. This predicts that cost reduction strategies are required to which will foster the production of manufacturing companies. Moreover, the overhead cost is contradicting with firm performance. Hence, the manufacturing companies must commence the cost reduction techniques to gain the good profitable situation (Oluwagbemiga1, Olugbenga&Zaccheaus, 2014). In this era of theworld, the competition is major issues that now automotive companies are facing. They perform such task to control the complexities, that will surely influence their profits. As it isseeming that cost of production also affect the increase in performance of the manufacturing. This will consider the vital factorsthat will increase the high degree profits which will raise market share. So, this market share will ultimately affect the organizations in gaining profitability. The analysis of results is done through regression and correlation.It examines that market share of the automotive industry will gain a positive impact in increasing the firm performance i.e. increases (profits of the year, return on assets, NPM). Hence, it is clear that market share is playing a vital role in achieving the profits of thefirm (Aqil, Aziz &Dilshad, 2014). As stated before, due to competitive automotive industry the companies are facing lot more challenges in due to variance in market forces, which results in thesupply chain to get improved. Due to differentiation in product design, the supply chain management has also become complex than before. This will follow the concept of supply chain management and warehouse management system. Total of 14 companies isanalyzed, with this the results predict that the 65% percent of the total companies are looking forward to updating their WMS system to gain competitiveness in the automotive industry (market share). As some companies are found to be more visible and agile in their operations. This clears the point that the supply chain management and warehouse management system is gaining the lot more important in increasing the effectiveness and efficiency thus reducing the cost of production (Udeh&Karaduman, 2015). This research proposed the few features related to global trends towards the automotive industry. As due to its diversification it generates issues and complexities in supply chain management which would cause a large amount of expense in production cost. This predicts that better relationships within the (inbound and outbound) logistics will prefer more improvement in thesupplychain, as a result, it reduces unnecessary cost, over inventories etc. The study suggests some factors that will provide better logistics operations like: (flexibility and adaptable system). Hence, this study provides better insight to improve supply chain management (improve thecost of production and good market share) and transportation of products(Sabadka, 2015 ). Gap Analysis According to current study that is stated above implies that the car manufacturers or automotive industry he
lp a country in future development, some study also defines the positive impact of production cost on the market share, improves supply chain management and logistics. But still, there is further research required with the context to (impact of car manufacturers on achieving environmental or economic goals). Conclusion From the above literature review, it is concluded that production cost is somehow is impacting a market share. The automotive industry is future for the development of the economy of other countries. The different studies predict that the cost reduction techniques are helpful to reduce the overhead costs and gain the better performance which will lead to abetter market share of the car manufacturing companies. Moreover, the production cost can be made better by implementing tools and techniques to operate better supply chain management and logistics. And lastly, the use of six sigma and total quality management seems to be useful in gaining large market share. For abetterunderstanding, it is essential that the researcher analyzefurther research on theimpact of production cost on market share. References 1. Aqil, M., Aziz, S., &Dilshad, M. (2014). Impact of Market Share on Profitability of Heavy Vehicles Manufacturers-. IOSR Journal Of Economics And Finance, 3(2), 16-20. Retrieved from http://www.iosrjournals.org/iosr-jef/papers/vol3-issue2/Version-2/D03221620.pdf 2. MONTEIRO, A. (2001). PRODUCTION COST MODELING FOR THE AUTOMOTIVE INDUSTRY. INSTITUTO SUPERIOR TÉCNICO. Retrieved from http://in3.dem.ist.utl.pt/master/thesis/98files/6thesis.pdf 3. Novák, P., &Popesko, B. (2014). COST VARIABILITY AND COST BEHAVIOUR IN MANUFACTURING ENTERPRISES. Economics And Sociology, 7(4), 89-103. http://dx.doi.org/10.14254/2071-789X.2014/7-4/6 4. Oluwagbemiga1, O., Olugbenga, O., &Zaccheaus, S. (2014). Cost Management Practices and Firm’s Performance of Manufacturing Organizations. International Journal Of Economics And Finance, 6(6). http://dx.doi.org/10.5539/ijef.v6n6p234 5. Peters, S., Lanza, G., &Xiaoning, J. (2014). Automotive manufacturing technologies –. Journal On Manufacturing Review, 1(10). http://dx.doi.org/10.1051/mfreview/2014010 6. Riley, G. (2000). Costsof Production. Retrieved from https://www.tutor2u.net/economics/content/pdf_files/costsprices.pdf 7. Sabadka, D. (2015). NEW TRENDS AND CHELLENGES IN AUTOMOTIVE INDUSTRY LOGISTICS OPERATIONS. International Scientific Journal About Logistics, 2(1), 15-19. Retrieved from https://www.actalogistica.eu/issues/2015/I_2015_04_Sabadka.pdf 8. Simboli, A., Taddeo, R., &Morgante, A. (2014). Value and Wastes in Manufacturing. Administrative Sciences, 4, 173–191. http://dx.doi.org/10.3390/admsci4030173 9. Talib, M., Munisamy, S., & Ahmed, S. (2012). AUTOMOTIVE PARTS MANUFACTURING INDUSTRY. INTERDISCIPLINARY JOURNAL OF CONTEMPORARY RESEARCH IN BUSINESS, 4(3), 217-224. Retrieved from https://umexpert.um.edu.my/file/publication/00001676_97828.pdf 10. Udeh, D., &Karaduman, I. (2015). THE IMPACT OF SUPPLY CHAIN IN THE WAREHOUSE MANAGEMENT SYSTEMS. International Journal Of Economics, Commerce And Management, 3(5). Retrieved from http://ijecm.co.uk/ Overall… Overall this was very careless work, and you seem to have ignored some quite specific instructions we gave. It may be that you were rushed due to other commitments, but as this is a “professional project” we do expect clear signs of professionalism in this unit. You’ve failed entirely to give us a clear research plan here. You’ve focused all of your energy on the literature review, and none of your time on the research plan, which is the central element of this unit. Professional presentation and accuracy of work. Lots of signs of carelessness… Quality and appropriateness of references and accuracy of references Very badly referenced and signs you didn’t read your sources. Feasibility of project within time frame No idea here. You have presented no plan at all. Aims and objectives/research questions Zero here. Preliminary critical literature review You’ve tended to present your literature review like a ‘procession’. First you present one source, and then move on to the next, and then the next. What we would prefer to see in a critical analysis is some deeper understanding of what is in each source, so that you can begin to compare and contrast one source with another. … so we would expect to see two or more references in a single paragraph for example, and, if your (minimum of) ten sources are high quality ones, suitable for this topic, we’d expect to see refer to each of your sources several times. So, for example three or four times. So, we’d expect to see 30 or 40 in-text references in here (i.e. 3 or 4 x 10 = 30 or 40). Organisation of the project For this we were looking for signs that you’ve planned the project carefully, have thought not just about where you will get the data from, but how you will use the data, and analyse the results. Written communication Just some basic tips to sound more scholarly…. Express yourself with ‘doubt’ (say things like “this could be…” “there appears to be”) (see the Academic Phrasebank, which you can find in Google). Your English language expression at times lets you down, often through carelessness…and it is probably worth giving the whole assignment a final read, perhaps giving it to a friend to read…and making sure you’ve done a spell check and grammar check in Word.