Manufacturers today are required to dynamically adapt their business processes and practices to evolving market conditions in order to stay relevant and globally competitive. Companies that are able to eliminate silos in their internal and partner ecosystems, and harness the power of all their data can forecast demand better, innovate faster and boost profitability while lowering costs. Manufacturing firms need to capture and analyse all the right data to obtain insights for more impactful decision making.
The innovators and early adopters of the world are generating more than 12% of their revenue through advanced analytics. Today in manufacturing, only 6% of the firms have embraced big data. Industry leaders have been leveraging big data-driven predictive analytics and have benefited from enhanced overall efficiency, increased profitability and improved customer experience. This includes higher asset utilization, lowered warranty costs, faster time to market, improved supply chain visibility, as well as enhanced after-market support and personalized customer service.
Tech Mahindra’s Advanced Analytics Suite for manufacturing is conceptualised around three themes: SIMPLIFY, OPTIMIZE and ACCELERATE. The solution suite consists of three different modules built to address the most important functions of the discrete manufacturing industry, creating a foundation for operational efficiency improvement and innovation, by providing visibility into the actual performance of manufacturers’ products and their processes.
The solution suite is designed to help serve our customers in the business process areas of Supply Chain Management, Predictive Maintenance & Quality and also Warranty Management, with predictive analytics features to help them take proactive and pre-emptive action for pressing business issues. Insights on supply chain inventory, plant floor asset utilization, demographic based warranty claims analysis, aftermarket predictive maintenance etc. are a few of the suite components.
Key capabilities of Tech Mahindra’s Advanced Analytics
- PRISM Platform - Predictive Insights from Tech Mahindra
- iDecisions®, a SCOR compliant framework
- Analytics offered as a service - CAPEX to OPEX model
- Around 50% reduction in time to deliver analytics services
- Pre-built KPI library and dashboards
- Descriptive, Diagnostic and Predictive Analytics models
- Cloud based / on premise hosting models
- Helps OEMs, T1 suppliers & dealers reduce fraudulent warranty claims by 6-9%
- Increases inventory turns and asset utilizatisation by 8 - 10 %
- Ensures a minimum of 1% reduction in equipment failure probability
- Decreases unplanned downtime by 20%
- Increases operating margins by at least 8%