Business Intelligence

How Technology Innovation Can Transform Physical Assets Into Value-Added Services

Download Now Free registration required

Executive Summary

One of world's leading manufacturers of industrial equipment was facing trouble in managing its sprawling product line due to critical lack of visibility through the product line. Even getting instant access to the most basic product information, important business capabilities was difficult, thereby undermining the company's strategic intent. This sort of information challenge was challenging the company's efforts in some of the most important areas of its business. The use of old world manual practices was further making it impossible to keep a track of its own product lines and harness the real value inherent in their assets given the fact that thousands of products were being created in various company silos. Also, this problem was prevalent in its financial processes. At the end of every year, for books closing, members of the finance team had to visit every plant, each of which used its own separate legacy financial systems. This process routinely took two to three months thus resulting in wastage of valuable time that could be better applied to other pressing areas. To address these challenges, the company asked Deloitte, a leading business management and consulting services provider, for help. Deloitte worked closely with the company to develop a strategy for proactive asset management, remote product monitoring and preventative maintenance. Deloitte also helped the company implement new pervasive technologies, which allowed the company's most important physical assets, including products and machinery, to self-report important data to business decision makers, as well as diagnose and self-correct problems in a preventative or planned manner.

  • Format: PDF
  • Size: 0 KB