Smart, Connected Products within The Internet of Things (IoT) will create a broad spectrum of opportunities for businesses to transform the way they create products and deliver services. PTC shares these success stories to illustrate the different ways that the IoT and smart, connected products are being leveraged for competitive advantage.
Sysmex is a global leader in the design and development of high-quality, reliable, and innovative clinical diagnostic equipment and information systems in the field of hematology and urinalysis. In addition to diagnostic equipment and systems, the company generates 10% of its overall revenue through their service offerings.
Intense competition in the medical device market, especially in the US, demands a higher level of customer service at lower costs. However, legacy technology hindered Sysmex´s ability to achieve economies of scale as their business grew, as well as the ability to deliver the value-add services that they need to stay ahead of the competition.
When Sysmex deployed the ThingWorx Platform a new business model became available to them which allowed for greater competitive advantage. This platform enabled Sysmex to expand their service offering significantly while lowering costs. Additional benefits included:
- Direct, real-time connections for delivering next-generation support applications
- Rapid problem resolution using enhanced collaboration, as well as data from remote systems
- The ability to quickly iterate their value-add applications to take advantage of changing market and customer demands
ThingWorx's simplified and unified approach to IoT applications enabled Sysmex to iteratively innovate their business processes faster than the conventional methods and legacy tools. As a result, Sysmex achieved:
- A 5-10 times improvement in their internal application development team utilization
- Improved equipment uptime through faster decision response time
- Improved labor utilization through a collaborative development and information exchange environment
Joy Global, worldwide leader in high-productivity mining solutions and aftermarket parts and services for the mining industries, made a choice to partner with ThingWorx to implement a new business model to enhance their competitive advantage.
Joy Global’s existing business processes required customers to work through an unstable legacy system to collect mass volumes of data. With inadequate processes and tools, field level analytics were not sufficient to properly inform business decisions.
Deploying a ThingWorx platform means that the data collection process is now stabilized, and at the same time innovations on new applications for customers have increased. Further benefits of the platform include:
- Field-level data that was once unavailable is now easily captured, providing greater visibility into complex mining processes
- Collection, storage and analysis of real-time data from 15 global mine sites, representing ~1000 machines and 1000 real-time data points at sub second intervals is now reliable, and gives the company a leading edge over their competitors
The ThingWorx platform has enabled Joy Global to optimize their remote monitoring and analytics processes, allowing them to:
- Anticipate failures
- Efficiently respond to equipment problems reducing equipment downtime
- Reduce the cost of mining resources
- Improve the safety of the site and human capital
- Optimize mining production
Accelerating time to value, minimizing cost and risk, and transforming how their products, people, and systems connect gives Joy Global the competitive edge they need to stay ahead.