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This article illustrates the differences between the semiconductor and the automotive industry and the subsequent challenges to their common supply chain. The weak points at the interfaces between the two supply chains will systematically be identified and assessed. Based on this analysis, a toolkit for collaborative supply chain planning and execution between the automotive and the semiconductor industry is presented. A fit/gap analysis assesses the measures and their potential to solve the supply chain challenges in a systematic manner. The model is built upon existing supply chain management frameworks and defines a set of specific optimization measures for the problem at hand. These are designed to ensure a better alignment of planning and control processes between the automotive and the semiconductor industry.