Hyundai Motor Corporation, popularly known as Hyundai Motors is based in South Korea car company headquarters in Seoul. Hyundai Motor Corporation was recognized in 1967 together with their 32.8% subsidiary, Kia Motors, as well as their 100 % pure luxury branch, Genesis Motor, as well as electric car subsidiary, Ioniq is all part of Hyundai Motor Group. Hyundai operates largest car manufacturing facility in Ulsan, South Korea, with an annual output of 1.6 million vehicles. Business employs approximately 75,000 employees worldwide. Hyundai cars sold to about 5,000 car dealers as well as storefronts in 193 countries (Hyndai, 2020).
Mission and vision of Hyundai
The following mission and vision are considered as mission and vision of Hyundai. Hyundai has made the following mission and vision for completing their organizational task:
To be respected by our clients for delivering competitive options, efficiency, comfort, and ease to their lives and enterprises. PSVSA
To become the world’s top energy provider for excellence
Value chain analysis
In Bound logistics
Manufacturing is complicated process, relative to few ages earlier, with sub-processes wanted to manufacture a only final goods from diversity of sites across world. Manufactured goods wanted for manufacture of such sub systems also could come from different countries and cities, and the completed finished products can then be shipped all around globe. In the case of disruption to transportation networks, this massive dependence on infrastructure renders it difficult to develop, import, and export. Consider the current situation as an instance: India imported from China only about half of all its active pharmaceutical ingredients (APIs). Between the limited restriction of Indian state API imports and the logistical difficulties presented by COVID-19, it would be difficult for indian pharma firms to retain their export figures. Provided that India is biggest generic drug manufacturer in world, this could contribute to highly ambiguous very easily. (Erol, et al., 2016, January).
Hyundai Motor Corporation is now increasing production of its new sports small cars, but the coronavirus has caused multiple plants to shut down in the world’s largest automotive market. Meanwhile, the shutdown of production may also have an impact on the output of the corporation’s first SUV under its Genesis name (Nair, et al., 2015). The group is evaluating various steps to reduce interruption of its activities, including the hunt for alternate vendors in other areas,” Hyundai Motor said during an email to Bloomberg (Huang & Liu, 2015). Hyundai Motor should closely watch trends in China as well as take all appropriate steps to ensure the rapid regularization of its activities.” Previously, IHS Market forecast a 10 % decrease during the first quarters of car production, but if the virus started to expand quickly across the world, the output could plunge by 32%. South Korean automotive giant Hyundai Motor has steadily dependent on China to supply automotive parts towards its home manufacturing center in recent times (Meredith, et al., 2017).
If coronavirus travels, the approach may be backfire. Several of their key manufacturers, Kyungshin that rapidly improved China’s capability to leverage on the nation’s lower costs as well as access to South Korea in last 2 centuries, has had its activities hit very hard by the outbreak. Hundreds of staff refused to work this week at both of all its four factories, Jiangsu and Qingdao, after Chinese New Year though holidays that were prolonged caused by an outbreak, as per a person familiar with the matter. In Jiangsu, there were just about 350 of the 650 workers who’d been supposed to return, the source (Bromiley & Rau, 2016).
Factories that can injustices output and adapt lines caused of demand increases will be standard for present. Hyundai Motor Corporation will be sponsored up by logistics systems accomplished of interacting intelligently with each other, compounding its productivity as well as suppleness. Businesses would wage lot of consideration in making sensitive schemes accessible on cloud which workers can be reached easily while they operate from home (Hitt, et al., 2016).
Hyundai Motor Corporation can also see most of the successful cloud fences have the final drive but on the other side and eventually switch to cloud to allow service delivery. Protection will be crucial consideration, and supplier risk control will be at forefront of all planning program. Few positive aspects of COVID-19 situation were to open us all to potential of isolated work by markets, territories, and enterprises, and if continued in COVID world, this development will contribute to transformed emphasis on environmentally sustainable working values (Hübner, et al., 2015).
Marketing and sales
Product delivery is theme to positive specific challenges, like warehouse recruitment, need for straight shipment, and more knowledgeable and interested delivery across nets. Retailing has been pretentious effectively. Lockdown as well as curfew circumstances across world contributed to strange circumstance under which there is the demand for necessities, subdued interest in several specialized markets, and huge difficulties in the luxury goods market, and we are expected to see many stores shutter down, whilst several others would be cruelly challenged on earnings growth as well as designs. On other side, the storage/packing of essential goods and over-the-counter drugs has contributed to unprecedented tension in distribution networks (Ali & Haseeb, 2019).
This is not uncommon for clients to worry over food provisions and other significant products in the period of crisis. Although this contributes to tension if storing endures past few days, it is shared for purchasers to be nervous about supply besides to indulge in this behavior. This unnatural rise in request as well as required differences in supply are extremely problematic to agreement with and together harvest an impact on supply chain, frequently contributing to artificial constraints (Wu, 2016).
Apart from this, it can be stated that a most significant human aspect will appear when Hyundai Motor Corporation progress through the time COVID-19 to the COVID world. Given forecasts on number of infected / patients, this would have a cascading effect on the provision of key facilities. The condition in Italy, Spain, the US, or China has further deteriorated due to the effect of viruses on critical support providers such as medical personnel, nurses, and armies. This is apparent with some of the more recent areas affected, such as India (Ansoff, et al., 2018).
At Hyundai, supply chain experience has always been at the center of exploiting emerging technology to simplify and create resilient global supply chains. Hyundai Motor Corporation remain determined to continue our work on integrating core technology and services and helping companies with our experience as they stabilize and use their lessons from the ongoing recession to rebuild faster, more efficient, and much more capable of managing challenges than it has ever been.
From the organizational, new state is expected to intensify numerical change labors for organizations across global level, since, organization are compulsory to address their deficiencies and weaknesses. Technology-led marketplace structures will evolve as more essential and necessary than ever before and should play an effective role in reshaping strategy as well as re-imagine the supply chains of nowadays (Slack & Brandon-Jones, 2018). It can be stated that there are many methods in which Hyundai Motor Corporation can build robust supply chains in world. There seems to be an immediate need to reduce reliance on physical labor through shipping, distribution, and warehouses. This could be made possible through key emerging technology for Industry 4.0, like Internet-of-things, cryptocurrency, control towers, artificially intelligent / machine learning, supply planning, rule-based, and self-adjusting inventory allocations, automated devices like AGVs and helicopters, among others (Starbird, et al., 2019).
The supply problem for the purchasing company lies on the other side of the coin. The efficiency drive has contributed to an rising concentration of output in low-cost countries, mostly based on China, Taiwan, korea and other low-cost economies, in an internationally interconnected world. The need for risk sharing has become more evident than ever, via an outbreak starting in China and affecting countries across the world, and resulting consequences and shortages.
To support Hyundai Motor Corporation to identify how to source sophisticated mechanism education techniques focused on prior acquisitions, goods costs, agro as well as industrial patterns, among many others (Wei & Zhang, 2018).
Supply chain control tower:
A shared source of truth for all exchange parties, from production to delivery, to see it and react to shifting supply circumstances across the globe.
Supplier risk management:
N-tier risk control helps Hyundai Motor Corporation to keep up with any demand volatility and secure ability with design fixed costs, trend production results, and accountability across the extended supply chain. It may help companies escape sudden disruptions in the manufacturing chain and fix the lack of recognition that many major multinational companies, such as Microsoft, are currently experiencing.
Supply chain simulation:
Modeling emerging supply chain techniques rely on business / designed to operate model transition, current potential supply, demand, and logistic restrictions. It supports to verify and define the most cost-effective network to deliver required quality of quality across the supply chain (Chiarini & Vagnoni, 2015).
From the whole discussion, it can be concluded that individuals are worse at than all other intelligent life-form is the capacity to grow through our collective encounters and grow to recover quickly. It can also be illustrated that Hyundai motor face certain issues due to the Covid-19 named as potential cash crisis, global infrastructure instability, rising trade barriers, and changing customer preferences. It can also be illustrated that emerging technology play a vital role in providing industry-wide enhancements, along with more robust supply chains, dramatically improved customer interface, and intelligently tailored business results processes.
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Chiarini, A., & Vagnoni, E. (2015). World-class manufacturing by Fiat. Comparison with Toyota production system from strategic management, management accounting, operations management, and performance measurement dimension. International Journal of Production Research, 53(2), 590-606.
Erol, S., Schumacher, A., & Sihn, W. (2016, January). Strategic guidance towards Industry 4.0–a three-stage process model. In International conference on competitive manufacturing (Vol. 9, No. 1, pp. 495-501).
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Slack, N., & Brandon-Jones, A. (2018). Operations and process management: principles and practice for strategic impact. Pearson UK.
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Hyundai (2020). About us: [online]. Available at: https://www.hyundai.com/in/en (accessed on 21st October 2020).