Genpact asset optimization

Genpact executives discussed the company’s comprehensive portfolio of engineering and asset optimization solutions.

02/11/2014


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.

 

- Mark T. Hoske and Jordan M. Schultz, content managers CFE Media, Control Engineering, and Plant Engineering, mhoske(at)cfemedia.com, jschultz(at)cfemedia.com



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