Assets are not just an expenditure, but are investment made in hope of promising returns. A business’s return on assets indicates how profitable the business is. In this success story, a manufacturing industry giant approached Quantzig to improve their return on assets and redesign their asset management plan.
Asset management helps in identifying and managing risks that may arise from the utilization or ownership of certain assets. Request a free pilot to know how we can help you with asset management and improve return on assets.
The client is an American engineering, massive construction, and manufacturing conglomerate with operations across the globe. Founded in the 1930s, this manufacturing industry giant has a business interest in heavy engineering and construction.
Manufacturing businesses primarily include the end number of assets that are the manufacturing business’s lifeline. This American manufacturing giant was unable to track the assets’ statuses, resulting in a miscalculation of return on assets. They wanted to implement an asset tracking dashboard that would provide real-time data on asset tracking and asset optimization. Since manufacturing includes vast assets, the client was also facing a frequent misplacement of assets. They also wanted to improve their operation efficiency, along with their return on assets, while gaining comprehensive insights from the data gathered.
On collaborating with Quantzig, the client identified the trigger factors leading to misplaced and stolen assets. Our asset optimization experts gathered data from every possible sensors which helped them create a time series model powered by predictive maintenance and identify assets at the highest risk. With predictive maintenance, the client was able to derive an efficient asset optimization plan and improve the lifetime of assets while deriving the maximum value possible from them.
There is no doubt that embarking on an asset management journey can be an immensely tough. Request a free proposal to gain insights into our portfolio of asset management solutions.
This advanced predictive analytics-driven collaboration helped the American manufacturing firm identify factors responsible for decreased return on assets and optimize asset utilization.
The critical business outcomes were –
- Improved return on assets by 14%
- Derived robust asset management and tracking plan
Contact us to learn more about how you can improve your return on assets by leveraging our asset management solutions.
Quantzig is the world’s foremost full-service advanced analytics and business intelligence solution provider, turning clients’ complex, unstructured data into intelligent, actionable insights that enable them to solve complex business problems and inspire innovation, change, and growth. We take on a wide range of projects, ranging from business intelligence and reporting, AI, IoT and automation, to advanced analytics.
Over the past 16 years, our insights have helped over 120 clients spanning across industries and sectors like Pharmaceutical and Life Sciences, Retail and CPG, Food and Beverage, and more. We have successfully delivered 1500 in-depth solutions in areas like Marketing Analytics, Customer Analytics, Supply Chain Analytics, and more.