Highlights of the Case Study:
|Client||A major medical device manufacturer in the UK was struggling with increased downtime due to equipment failures and availability of service parts|
|Business Challenge||Our client required data-driven solutions to optimize the after-sales service processes to reduce operating costs and reinvent pricing strategies.|
|Impact||Quantzig helped the client leverage predictive maintenance technologies that use IIoT to collect the data and run diagnostics on equipment to find anomalies and possible failures and thus optimize its operations.|
Game-Changing Solutions for Medical Device Manufacturers
Medical device manufacturers have started to understand the importance of predictive analytics solutions. The key to customer retention in the manufacturing industry, especially for equipment manufacturers, is providing long-term value with the help of high-quality after-sales support. However, the major roadblock in providing after-sales service is the timely availability of service parts required for repair and replacement. Any delay results in extended downtime, leading to high operating costs and decreased productivity.
Quantzig’s comprehensive predictive analytics solutions portfolio provides manufacturers with a solution to upgrade their aftermarket service model. Our solutions, combined with advanced technologies such as machine learning and IIoT (Industrial Internet of Things), enable medical equipment manufacturers to analyze sensor data and predict possible failures in the equipment, thereby reducing operating costs, maximizing uptime, and managing SLAs (service level agreements).
The Challenges of the Medical Manufacturing Client
Our client is a major UK-based medical device manufacturer facing issues due to increased downtime resulting from equipment failures and the unavailability of service parts. The client sought data-driven solutions to optimize the processes involved in after-sales service to bring down operating costs and reinvent pricing strategies.
Some of the issues in enabling a proactive after-sales support model were as follows:
- High maintenance and costs associated with aftermarket supply chain
- Maintaining uptime of the medical equipment
- Right service part availability
- Managing unplanned downtime
The client wanted to leverage predictive maintenance technologies that use IIoT to collect data and run diagnostics on equipment to find anomalies and possible failures and thus optimize the after-sales support service offered to its customers.
With predictive analytics solutions, our client would be able to find anomalies and possible failures in real time and even in advance.
Quantzig’s Predictive Maintenance Solutions
Quantzig’s predictive maintenance solutions and ML system optimized the client’s maintenance schedules by setting up a monitoring system that created early warning alerts based on several data points. We offered an IIoT system that tracked equipment parts, proactively enabling the client to replace or repair parts before their breakdown. This solution helped the client identify equipment behavior and manage the maintenance process seamlessly when integrated with the existing system. With this, our client could increase the uptime of the equipment and indirectly expand its customer base due to positive feedback. Our team also created a SaaS platform that provided data-driven insights on the timely availability and accessibility of the right parts.
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Impact Analysis of Quantzig’s Predictive Maintenance Solutions
Our predictive maintenance scheduling and IoT technology helped the client achieve the following benefits:
- Increased product uptime by 10-30%
- Reduced unexpected downtime of the medical device by 20%
- Reduced spare part supply chain costs by up to 15%
- Optimized complete aftermarket supply chain to improve the availability of spare parts at the right time
As a result of this collaboration, our client reduced its operating costs by 30% and increased the operational life of its medical equipment. The client also deployed our IoT technology throughout its device manufacturing processes in all its facilities.
Key Outcomes of Medical Predictive Analytics Solutions
Quantzig’s intervention enabled the client to streamline its aftersales operations and ensure better customer service. In addition to reducing delays and machinery downtime, this led to long-term benefits culminating in customer retention and expanding the customer base. Implementing Quantzig’s predictive maintenance solutions has been instrumental in reducing the client’s operating costs and increasing the performance of its medical equipment.
Broad Perspective on Predictive Maintenance Solutions for Medical Device Manufacturers
Aftersales support is crucial for the growth of any company as it establishes a long-term relationship with a customer. With the development of modern analytical solutions, companies can now provide efficient after-sales support to their customers. As an emerging technology, IIoT helps the industry evolve by collecting a large amount of data and integrating it to form a network. For instance, IIoT enables the collection and analysis of data to monitor equipment health in device manufacturing aftersales support. Owing to its broad reach and diverse benefits, various companies have started implementing advanced analytical systems powered by IIoT devices. The applications of IIoT are extensive, and companies can reap long-lasting benefits through its implementation.
Predictive maintenance solutions can deliver the following benefits:
- Reduce potential loss of customers due to lack of timely service
- Streamline the after-sales service process
- Increase product uptime and life-cycle
- Reduce spare part supply chain costs
- Ensure customer retention and lead to expansion of customer base.
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