Why Real Time Asset Intelligence will prove a game-changer for your business.
“Data is becoming the new raw material of business.”
Those are the words of Craig Mundie, Chief Research and Strategy Officer at Microsoft, and at Pathfindr we couldn’t agree more. Obviously, raw materials are vital to the success of any business, especially in manufacturing and engineering sectors, but the data which allows you to scrutinise every decision made within your facility is equally important, if not more so.
It could be argued that without data – highlighting exactly what happens throughout your facility each and every day – teams are restricted, and the business misses an opportunity to improve quality and efficiency. They can only react if they have the data to highlight where change is necessary.
There’s also the issue of productivity. We’ve seen it time and again – production leads can confidently quote figures over consistency of output, but still struggle to locate urgent components every day. Even if team members are spending 10-15 minutes each day locating critical tools and components, efficiency gains are lost. How many companies can claim to know the value of the time lost, and how significant an impact it would make if this was reduced or even eradicated?
Where is my stuff?
The ability to pinpoint exactly the location of tools and components in vast facilities is vital to achieving a high level of productivity but is often overlooked. If you consider the strict deadlines manufacturers work under when it comes to their production lines, if teams are accumulating hours searching for tools or parts, delays mount up and become a real challenge. This ignores the wider impact of mis-placed or damaged assets can have on the smooth operation and effectiveness of an organisation.
Take one of our customers, for example. The team maintains and repairs civil and military aircraft across the globe so it’s vital that tools and materials are monitored for use, availability and condition. Any lost tools pose a major safety threat and can seriously delay activity. By attaching sensors tools and monitoring location though software, assets can be constantly monitored, ensuring the business can access tools and materials efficiently and more effectively deliver on its promises to customers.
An extra layer of insight
It’s not just location which smart tech can monitor though, there’s an additional layer of data available which unlocks the ‘hidden factory’, in real time. For example, your facility no doubt takes maintenance of its machinery and production outputs very seriously but, as the old adage goes, you don’t know what you don’t know.
With our Real Time Asset Intelligence (RTAI) solution in place, companies get oversight of every asset in the facility and can perform in-depth analysis of any inefficiencies as and when they’re occurring. So, whether you’re a national manufacturing company or a global engineering firm, the benefits of having smart tech in place will have a vast impact on your company.
The perfect example is a customer which powers the largest yachts, strongest tugboats and biggest land vehicles in the world, while providing energy for the world’s most important mission-critical applications. By using the Pathfindr platform, our customer gathers actionable insight from its engines to understand use as well as the environmental conditions they endure. As a direct result, the customers now carry out more effective routine servicing and intervene immediately if anomalies appear. Without RTAI, this simply wouldn’t be possible.
Reap the rewards
Investing in RTAI technology can and will have a significant impact on reducing inefficiencies throughout your facility, as will the support of our expert team. There have been instances where we’ve conducted site visits to help solve a known issue, yet by the end of the tour, we’ve spotted another 15-20 areas which the technology could improve.
If you’re interested in finding out more about how RTAI could revolutionise your facility, you can sign-up for our upcoming webinars, or watch on demand here. Future episodes will cover a broad range of subjects, including a user’s perspective of RTAI and what the future has in store for Industry 4.0. You can also find out more by downloading our RTAI Buyers Guide here.
Ben Sturgess, Founder and CEO Pathfindr
This article was taken from a recent webinar which accompanied the launch of our Buyers Guide to Real-time Asset Intelligence also linked to above. The webinar was presented by our Founder and CEO, Ben Sturgess who has spent the last decade perfecting our market leading real-time asset intelligence technology.
