- Predict where, when, and why asset failures are likely to occur.
- Quickly identify primary variables as part of root-cause analysis process.
- By better understanding asset performance and product quality, organizations will also be able to:
- Minimize product quality and reliability issues to meet customer delivery schedules.
- Optimize spare-parts inventory to reduce inventory costs associated with stockouts and overstocks.
- Predict warranty claims to increase customer satisfaction.
- Enhance sales and operations planning to reduce operations costs.
- Inform upcoming issues to planning & budgeting teams, prior to the occurrence of costly event failures.