Installed Base Intelligence plays an important role for Original Equipment Manufacturers (OEMs) operating in the aftermarket. A significant observation has been the heavy reliance on a few senior Subject Matter Experts (SMEs) who are on the verge of retiring. While these experts possess invaluable knowledge, their departure could create bottlenecks and knowledge gaps. Installed Base Intelligence acts as a valuable resource, effectively replacing the traditional dependence on Tribal Knowledge, which is often unrecorded and confined to selected individuals within the organization. How Installed Base Intelligence benefits OEMs in the aftermarket as a substitute for Tribal Knowledge:
Comprehensive Asset Records: Installed Base Intelligence provides a centralized repository of information about the equipment and systems installed at customer sites. It captures detailed records of product specifications, configurations, and historical data related to each piece of equipment.
Maintenance History and Patterns: It maintains an extensive history of maintenance activities, including service, repairs, and part replacements for each asset. This historical data is a treasure that OEMs can leverage to identify recurring maintenance patterns and trends.
Predictive Maintenance: By analyzing maintenance data and real-time information from the installed base, OEMs can develop predictive maintenance models. These models help forecast when specific components or parts are likely to fail, enabling proactive maintenance measures.
Parts and Inventory Management: Installed Base Intelligence facilitates effective management of spare parts and inventory. It ensures that the right parts are readily available when needed. This not only reduces downtime for customers but also streamlines operational efficiency for OEMs
Customized Service Plans: OEMs can use the intelligence to create tailored service plans for each customer. These plans can be designed to align with the specific requirements of the equipment and its unique usage patterns.
Enhanced Customer Support: Armed with detailed information about each customer’s specific equipment, OEMs can provide superior customer support. This not only enhances the quality of support but also accelerates response times, resulting in increased customer satisfaction.
Lifecycle Analytics: OEMs can gain a comprehensive view of the entire lifecycle of their products, understanding how they age and perform over time. This deep understanding aids in designing better products and offering improved aftermarket services.
Data-Driven Decision-Making: Installed Base Intelligence ensures that data drives decision-making processes. OEMs can use data analytics to make informed decisions regarding product enhancements, customer support, and other key aspects of their business.
In summary, Installed Base Intelligence serves as a knowledge repository that is accessible to all stakeholders within an organization. It effectively substitutes for Tribal Knowledge, ensuring consistency, efficiency, and data-driven decision-making in the aftermarket. This not only benefits OEMs by optimizing their operations but also enhances the overall customer experience by providing more reliable equipment and support services.
Gain valuable insights through the life stories of Industry Experts, and subscribe to the Aftermarket Champions podcast.