Assets & Processes
Shifting operations models from ‘fail-and-fix’ to ‘predict-and-prevent’, driving optimized
processes and minimizing costs
PREDICTIVE MAINTENANCE
Asset intensive industries such as Energy, Oil & Gas are continuously challenged to mitigate the risk of equipment failure to avoid unplanned costs, impacts on production, safety and environmental implications. It is a constant battle to balance the cost of preventative maintenance measures against the risk of equipment failures. The ultimate objective of traditional or smart asset management is to help reduce/minimize/ optimize asset lifecycle costs across all phases, from asset investment planning, network design, procurement, installation and commissioning, operation and maintenance. Predictive analytics can be applied to smart asset management to realize asset lifecycle cost reduction and improve the accuracy of their decision-making
FORECASTING
Demand Forecasting refers to the process of predicting the future demand for the firm’s product. Demand Forecasting provides an estimate of the amount of goods and services that its customers will purchase in the foreseeable future. Critical business assumptions like turnover, profit margins, cash flow, capital expenditure, risk assessment, mitigation plans, capacity planning, etc. are dependent on Demand Forecasting.
Sales forecasting is the process of estimating future sales. Accurate sales forecasts enable companies to make informed business decisions and predict short-term and long-term performance. Companies can base their forecasts on past sales data, industry-wide comparisons, and economic trends. Sales forecasting gives insight into how a company should manage its workforce, cash flow, and resources and allows them to predict achievable sales revenue, efficiently and plan for future growth.
PRICE-PROMOTION OPTIMIZATION
Pricing decisions are critically important for any business, as pricing is directly linked to consumer demand and company profits. Optimal pricing is a challenging problem for several reasons. The complex structure of the price waterfall, which often includes multiple variables such as list prices, discounts, and special offers that need to be optimized is one of the reasons. Another one, is the complexity of demand and profit forecasting, which makes it difficult to evaluate new pricing strategies accurately. Advanced analytics can contribute substantially towards the evaluation of important factors determining sales, such as promotional activity, seasonality, advertising, cannibalization and halo effects, through modeling techniques.
• FMCG • Pharma • Energy • Utilities • Manufacturing • Transportation • Maritime