Our service thinkers brought up some very interesting ideas over the course of 2017. While some discussed the implications of augmented reality, others introduced the idea of using IoT data to predict service parts demand.
As tribute to those ideas, we listed our five most popular service lifecycle management articles among our readers – the first of which contains one of PTC’s most important announcements.
If you haven’t heard, PTC is doubling down on our investment in Servigistics by launching a business unit dedicated to advancing the software’s capabilities and market presence. Leslie Paulson, former GM of Industry Solutions at Caterpillar, will take the helm as the business unit’s new GM.
“I’m excited to take on this new role with a client-first philosophy, and lead an era of rapid innovation,” said Paulson. “Servigistics delivers significant value to our clients, and I am energized by the potential to deliver further value with a dedicated and focused team.”
Authored by Jeff Coon, PTC’s Solution Management Director of our illustration software, this article outlines several ways AR will affect field service productivity – one of which being training.
Every field service manager knows how expensive it is to onboard new employees – particularly novice technicians who aren’t familiar with certain brand-name products. Augmented reality will enable those technicians to pull up animations that walk them through complex, multi-step work instructions.
One of the challenges of minimizing parts inventory costs is associated with the fact that predicting when (and where) specific parts will fail is close to impossible. Thanks to the IoT, that may not be much of a problem.
Vinod Arekar, PTC Fellow and one of the most renowned service parts thinkers in the industry, wrote about how using IoT data and predictive analytics can reduce inventory costs.
Referencing a proof-of-concept he developed for a medical device manufacturer, Arekar concluded this method would allow the company to reduce its overall inventory by 20%.
Research has shown that interactive 3D animations enable people to absorb complex information more quickly than textual information. So why not include that content in digital service manuals?
In addition, 3D animations are much more accessible now than they were even five years ago, thanks to the proliferation of smartphones. Technicians, product end-users and others could pull up animations on their mobile devices to learn how to fix issues, operate complex machinery, or perform other tasks.
The final article touches on a new business opportunity for manufacturers: Product as a Service.
Kyle Irby, an Advisor in PTC’s IoT Transformation Advisory Practice (ITAP), wrote that the opportunity in Product-as-a-Service models lies in generating recurring revenue through subscription or power-by-the-hour contracts. Instead of selling a product once, manufacturers can lease their products to end-users, ensuring those end-users can utilize products to the full extent of their lifecycles.
It’s a new year, and the ideas will keep rolling in. In addition to remote monitoring, connected service parts management, and predictive analytics, how do you think organizations will utilize the IoT? What about augmented reality?