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The massive adoption of digital is pushing companies to reimagine how they do business. Realizing great opportunity in adopting knowledge-based services, a large U.S. manufacturer of packaging solutions sought to become more service-oriented in its offerings and grow beyond products. The manufacturer engaged Cognizant to develop an approach to create and support knowledge-based services.
We started with a comprehensive analysis and helped develop a strategic roadmap for setting up a sensing and analytics center of excellence (CoE). Leveraging our leadership in developing the CoE meant that the right technology and business planning resources were established early to support the new approach and upcoming service offerings.
We leveraged our Asset Performance Excellence (APEx) offering as a solution accelerator to build pilot industrial internet of things solutions that gather data and provide insights that enable the company to understand equipment performance.
With APEx, we have helped provide data and insights that enabled the company in decision-making about the equipment, understanding equipment performance and driving cost efficiencies. The company can provide access to this real-time insight into asset and equipment status to its customers as a service offering. Leveraging knowledge and information helped optimize processes based on asset conditions and proactively identify and prevent service bottlenecks.
savings in inventory carrying cost
optimization in consumable utilization and replenishment
increase in service parts revenue
increase in savings from product obsolescence costs
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