In today’s highly competitive global environment, it is tough to stand out. Many companies view exceptional service as a competitive advantage. Providing customers with superior service is one of the best ways to build loyalty. To help them achieve their service goals, many companies procure technologies designed to support spare parts inventory management best practices.
By implementing the right technology to manage service information, you can:
To determine what companies should look for in a technology solution, Tech-Clarity identified Top Performing companies and analyzed what they do differently to help them achieve higher levels of success. We defined Top Performers as those which significantly exceeded their competition’s:
Other companies can then understand what Top Performers do and adopt those practices to help them experience similar results.
We first looked at what Top Performers are trying to achieve with their investments in service. Their top goals for 2017/2018 for service investments included:
Through these goals, it is easy to see the expected profitability impact of investments in service. By increasing customer satisfaction, you can expect to win their loyalty, which will lead to future business.
Top Performers are also looking to increase their spare parts revenue while simultaneously lowering the cost of service.To achieve these goals, Top Performers have put several initiatives in place:
These initiatives cumulatively streamline product information for service teams. By linking engineering information to service information, field staff obtain access to accurate, up-to-date product information. As a result, they arrive at the customer site knowing what the customer has and which spare parts may be needed. Service visits then become far more efficient, downtime is limited, and customers are happier.
To help them execute these initiatives, Top Performers look to technology. Tech-Clarity identified the top six criteria they look for in a solution. Tech-Clarity’s Buyer’s Guide for Managing Service Information shares our considerations and explains how certain features helped service organizations overcome some of the biggest challenges of managing spare parts information: