Genpact asset optimization
Genpact executives discussed the company’s comprehensive portfolio of engineering and asset optimization solutions.
Genpact industrial asset optimization demonstrates that intelligent enterprises can be powered by progress.
Industrial companies often have difficulty growing services businesses to increase profitability. With service optimization tools, original equipment manufacturers (OEMs) can see:
- 10-15% in revenue increases
- Service cost reduction of 8-10%
- Improved asset uptime up to 10%.
OEMs face financial and operational risks in the absence of an effective industrial asset optimization program. Up to 30% incremental value is possible through an industrial asset optimization program.
How can OEMs services be improved? Tools, such as data integration, reporting, algorithm automation, statistical analysis, predictive modeling, and process optimization, can be used to obtain their goals.
Connect (robust and secure), collect (use big data protocols), compute (derive actionable insights from data), and control are the steps to improving an industrial assets portfolio. Upon completing these steps, results include greater asset reliability with less unplanned downtime, reduced financial and operational risk, and lower product failure rates.
Oil and gas, transportation, utilities are among clients using analytics, processes, and technology to create services transformation and asset optimization.
Example benefits – achieved by actual companies – include:
- 10% improvement equipment time and performance with remote monitoring for a power generation OEM.
- 10% reduction in predictive maintenance costs for a leading power generation OEM.
- Support $10 billion of service contract pricing through reliability for a global aerospace OEM.
- Incremental revenue of $42 million over next 10 years for contract compliance for a global aviation company.
- *12% cost reduction by optimizing the field force for a global energy services company.
- 56% lower working capital and $30 million in cost avoidance for field inventory management and reverse logistics for a global medical equipment company.
- $14 million incremental revenue by increasing installed base accuracy and streamlining new install process for a global medical OEM.
GE spun off Genpact in 2006. The company has 65,000 employees, more than 600 clients, and a focus on process excellence.
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After almost a decade of uncertainty, the confidence of plant floor managers is soaring. Even with a number of challenges and while implementing new technologies, there is a renewed sense of optimism among plant managers about their business and their future.
The respondents to the 2014 Plant Engineering Salary Survey come from throughout the U.S. and serve a variety of industries, but they are uniform in their optimism about manufacturing. This year’s survey found 79% consider manufacturing a secure career. That’s up from 75% in 2013 and significantly higher than the 63% figure when Plant Engineering first started asking that question a decade ago.