PTC Named an Expert in the State of the Art Service Parts Management Report

PTC was recognized as an Expert in the report published by Blumberg Advisory Group, benchmarking vendors across critical areas of service parts management functionality. Functionality assessed within the report includes Optimization Approach, Forecasting Capabilities, Incorporation of Data Sciences, Vision and Innovation, Depth of Features, Vertical Markets Served, Service Supply Chain Expertise, and Flexibility and Ease of Use.
 
“Service parts management is central to an organization’s ability to delight its customers with excellent service,” said Michael Blumberg, President, Blumberg Advisory Group. “This report summarizes the most important areas of innovation and acknowledges the vendors who are leading the way.”

About PTC specifically, the report had this to say: "Servigistics leadership and in-house experts, in collaboration with forward-thinking clients, continuously challenge the status quo, which has earned Servigistics the leader distinction in every analyst report ever produced."

For the full report, click here.

Servigistics is a purpose-built, best-of-breed enterprise solution leveraging data science-based capabilities that optimize the most complex service supply chains. Its robust service parts optimization capabilities include historical and causal forecasting, multi-echelon optimization, and ground-breaking Performance Analytics and Intelligence. The Servigistics platform exclusively capitalizes on artificial intelligence, machine learning, big data, and industrial IoT data (via ThingWorx integration) to enable predictive maintenance that maximizes equipment uptime, readiness, and availability.

The report makes note of this continued innovation, “Servigistics’ introduction of advanced data science, including machine learning and artificial intelligence, is well documented since 2006. Their strategic vision is to leverage math and data science to change the planning tool and change the way parts planning is done. Their ambition is to achieve semi-autonomous planning, where the combination of human capital and adaptive systems achieve next-level results.”

These advanced capabilities allow organizations to unleash the full potential of their service business. Organizations like John Deere, Boeing, Honeywell, Philips Healthcare, Thermo Fisher Scientific, Metso Outotec, Hitachi Vantara, US Air Force, and hundreds more standardize on Servigistics to benefit from the advanced capabilities, which are independently validated to maximize value. 

“Our strategic perspective of Service Parts Management demands a strong foundation of advanced data science fully leveraging AI, ML, Big Data, IoT, and human capital,” said Dr. Vipul Agrawal, Vice President, Product Management, PTC. “Since 2006, our innovations with Machine Learning have delivered a step function improvement in value and lead our clients toward semi-autonomous planning.” 

About the State of the Art Service Parts Management Report

This Blumberg Advisory Group report educates Service Supply Chain Executives on the strategic value and importance of Service Parts Management (SPM) to a company’s financial and operational performance. It provides an independent benchmark evaluation and profiling vendor capabilities.

“Spare parts represent the single largest investment and second-largest expense when it comes to running a product service business. This is true regardless of whether Aftermarket Service operates as a cost center, revenue center, or profit center," says Michael Blumberg, president, Blumberg Advisory Group. “Additionally, several industry trends including Servitization, Circular Economy, and a tsunami of technological innovations have placed even greater pressure on Service Leaders and Supply Chain Managers to be as effective as possible when it comes to forecasting, managing, and ordering spare parts."  

“We are pleased to be named a Leader in this report,” said Leslie Paulson, General Manager, Servigistics Business Unit. “We are delivering an unprecedented pace of innovation fueled by accelerating technology trends, close partnership with our world-class clients, and strong partner network.”