Benefits

What are the benefits?

Among the benefits provided by the infrastructure are:

• Cost reduction: important cost reductions can be reached by maintenance cutbacks that are linked to chaotic ad hoc maintenance processes and last minute procurement of components. By  detecting machine components' faults based on continuous and real time monitoring, maintenance activities can be planned under scheduled production stops and, procurement process can be prepared to get better negotiation deals and the best value of components.
• Time to market reduction: by working and improving product management operational parameters, you can not only improve product lifecycle and its usage, but also enable innovation activities and new products .
• Quality improvement in products (by improving operational parameters companies can improve products, design new products for clients’ specific usage, etc.), and in services (guarantee availability, reliance, momentum, etc.)
• Fostering collaboration: by providing real-time visualization of data streams, brainstorming and diagnostic analytics tools, collaborative product design/ improvement is encouraged.
• Improvement of IPR protection:  IPR protection is provided through fine grained control about partial visibility of all types of product data streams in the collaborative environments.
• Enabling service oriented business models: new revenue streams based on functional products or “servitisation” (products as services) can be generated. Companies sell a service or a combination of services based on parameters or characteristics (intangible assets): excavation volume, torque, constant pressure, availability, etc.

SMART VORTEX Benefits