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@cfemedia.com, jschultz@cfemedia.com



No comments
The Top Plant program honors outstanding manufacturing facilities in North America. View the 2015 Top Plant.
The Product of the Year program recognizes products newly released in the manufacturing industries.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
Your leaks start here: Take a disciplined approach with your hydraulic system; U.S. presence at Hannover Messe a rousing success
Hannover Messe 2016: Taking hold of the future - Partner Country status spotlights U.S. manufacturing; Honoring manufacturing excellence: The 2015 Product of the Year Winners
Inside IIoT: How technology, strategy can improve your operation; Dry media or web scrubber?; Six steps to design a PM program
Getting to the bottom of subsea repairs: Older pipelines need more attention, and operators need a repair strategy; OTC preview; Offshore production difficult - and crucial
Digital oilfields: Integrated HMI/SCADA systems enable smarter data acquisition; Real-world impact of simulation; Electric actuator technology prospers in production fields
Special report: U.S. natural gas; LNG transport technologies evolve to meet market demand; Understanding new methane regulations; Predictive maintenance for gas pipeline compressors
Warehouse winter comfort: The HTHV solution; Cooling with natural gas; Plastics industry booming
Managing automation upgrades, retrofits; Making technical, business sense; Ensuring network cyber security
Designing generator systems; Using online commissioning tools; Selective coordination best practices

Annual Salary Survey

Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.

There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.

But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.

Read more: 2015 Salary Survey

Maintenance and reliability tips and best practices from the maintenance and reliability coaches at Allied Reliability Group.
The One Voice for Manufacturing blog reports on federal public policy issues impacting the manufacturing sector. One Voice is a joint effort by the National Tooling and Machining...
The Society for Maintenance and Reliability Professionals an organization devoted...
Join this ongoing discussion of machine guarding topics, including solutions assessments, regulatory compliance, gap analysis...
IMS Research, recently acquired by IHS Inc., is a leading independent supplier of market research and consultancy to the global electronics industry.
Maintenance is not optional in manufacturing. It’s a profit center, driving productivity and uptime while reducing overall repair costs.
The Lachance on CMMS blog is about current maintenance topics. Blogger Paul Lachance is president and chief technology officer for Smartware Group.
This article collection contains several articles on the vital role that compressed air plays in manufacturing plants.
This article collection contains several articles on the Industrial Internet of Things (IIoT) and how it is transforming manufacturing.
This article collection contains several articles on strategic maintenance and understanding all the parts of your plant.
click me