Speed-to-Results: How the As-a-Service Model enabled by Industry 4.0 is Delivering Rapid Operational Improvement
4:15 pm - 4:45 pm,
Conference Room (Ballroom A)
Panelists: Carole Wendt, Tom Barrett
More and more business leaders in the industrial space are making the connection between quality data in their indirect supply chain and their production reliability strategy. However, despite its mission-critical nature, MRO has largely been ignored and or neglected as an area of operational excellence. Most companies have not invested the resources in proper MRO supply chain management or enabling technologies. Industry 4.0 and the digitization of the supply chain are rapidly changing the landscape and enabling new plug and play solutions that industrial manufacturers can use to augment their MRO supply chain processes and services to significantly speed delivery of improvements in operating expense, working capital, invested capital, and human capital.
This session will take you through the journey that Ascend Performance Materials — a global manufacturer of the nylon, plastics, and synthetic fibers that are found in thousands of different commercial and industrial products — embarked on to embrace the As-a-Service model and leverage AI-enabled inventory management systems to extract value from their MRO supply chain:
- Exceeding their performance goals to achieve astounding year-over-year savings
- Reducing their processing errors
- Optimizing their storerooms, reducing obsolescence
- Condensing the timeframe in which invoices were paid
- Improving their master data management
- Helping to unify and standardize 5 autonomous plants within a 6-month window.