IoT and IIoT Enabled Service Solutions Take Center Stage

spare parts management IoTPTC Forum Europe gave hundreds of technology leaders a look back, and a look forward into how the Internet of Things is solving existing and future business challenges in the service industry.

Service & Parts Information Delivery Solutions, presented by Christian Zimmermann, Managing Director at DATACOPY publishing solutions gmbh and Nir Even, Solution Management Director at PTC

Service and parts information delivery is poised for an evolution, a revolution even. Currently, parts catalogs and manuals are bogged with several challenges: difficulty in finding up-to-date information, no ability to look up information by task or product, agnosticism of consumer needs and finally, difficulty in scaling effectively for a large number of devices. PTC partner DATACOPY’s vision is for tailored information that is consumer, task, and product-specific that can be viewed on multiple devices. 

Why are vision and reality so…different? The friction happens when content creation and content delivery meet. Getting the right information into the right hands in the right way, it turns out, is much more difficult than creating content in the first place. When there is friction, profit potential isn’t fully realized, service slows down, and the user experience suffers. Industry 4.0 will require new approaches to service information authoring and delivery. Download the presentation from the PTC user community here.

Service Parts Optimization, presented by Steven Caldwell, VP Service Parts Management at PTC

Global supply chains juggle multiple sources of supply in different locations, and are subject to complex business priorities, including response time, fill rates, and product uptime responsibilities. Manufacturers and OEMs must account for part relationships that result in literally millions of individual stocking decisions. Adding in the service lifecycle, which includes new part introductions, and need for causal forecasting, and these needs have outgrown your grandfather’s spreadsheet solution. 

A comprehensive inventory planning solution is essential to equipment availability and optimal service levels. Beyond that, see how inventory management marries IoT technology to allow equipment visibility, predict spare parts requirements, and move to outcome-based service contracts. See how a holistic view of service part demand forecasting combines historical data, such as regression analysis and seasonality and trends, and forward looking and smart, connected data for optimal decision making. Download the presentation from the PTC user community here

The Future of Connected Service, presented by Jim Sweeney, VP Solutions Management at PTC

Service leaders are under pressure to deliver revenue and profits for their organizations while managing many challenging environments, including reactive service models that carry high on-site costs, high costs related to inventory, and an aging workforce that limits tech deployment. This landscape affects the customer experience, by not meeting increasing expectations around speed and accuracy of service. Industrial IoT is ready to address many of these manufacturing issues. 

Some of the emerging trends in the service industry are using augmented reality to transform service capabilities, and using connected equipment to model and plan business needs. See PTC’s vision for the future, including Predictive Service use cases, in the presentation from the PTC user community here

Service Journey for Proactive Service, presented by Felisa Palagi, VP Strategy & Operations, Service Segment at PTC

There is an industry sea change coming – a shift from product-oriented service contract to a customer and outcome-focused service relationship. In a quest for service to drive more revenue in the organization and meet customers’ outcome demands, service must transform. 

See how PTC clients transformed their service offerings into new revenue producing business models using IoT and connected technologies like remote service and augmented reality. Follow this transformation journey and see what’s next and what’s possible for service in years to come. Download the presentation from the PTC user community here


Curious About How Remote Service Could Help Your Team?

Learn How You Can Increase Customer Satisfaction and Reduce Costs with Remote Service.