Are you struggling to make sure all your tooling assets are accounted for and utilized correctly? Managing hundreds of pieces of complex machinery in a manufacturing setting is not easy. It involves countless moving parts that need to work together efficiently, but it doesn't always go smoothly. Fortunately, with the right tooling asset management, and supply chain solutions available today, OEMs are able to turn their operations around by bringing things under control. Let's take a look at how one of the largest automotive parts suppliers in the world achieved successful digital transformation by revamping their tedious manual processes into an automated system.
In the midst of outsourced manufacturing and complex regulations, OEMs often find themselves stuck between two worlds - how to keep up with ever-growing demands while fundamentally shifting their modes of operation to keep up with the latest industry advancements. The solution lies in digitalization - by installing IoT sensors on toolings and utilizing asset management software, companies can improve account visibility and gain access to deeper insights into production processes. Take this automotive OEM's journey as an example; eMoldino's technology provided them with a unique way to digitally transform their production chains - not just the tools they use and regularly replace (so-called High-Runners), but the forgotten toolings that are used less frequently too. With solutions like this, companies hoping to stay competitive can move forward confidently in the wake of supply chain disruptions.
As one of the most prominent suppliers in the automotive industry, the company faced many production challenges that resulted in confusion and an alarming amount of lost or suboptimally running toolings. The OEM experienced a range of problems when it came to their toolings, from the storage costs they incurred to the surprise refurbishments they had to go through, and even the duplicate pieces and toolings they ended up with due to lack of oversight. To combat this, the OEM took advantage of eMoldino's IoT sensors and asset management software
Knowing the importance of digitalizing existing toolings, the automotive supplier decided to investigate and eventually discovered they had been losing billions of dollars due to their manual record-keeping process. Fortunately, they found a solution in eMoldino's IoT sensors and manufacturing asset management software, drastically reducing unexpected downtime and defect rates, which boosted their input-output ratio by 9% over the first year. This allowed them to have better visibility over what assets are currently in use, decommissioned, or need replacement. In one swoop, their digital transformation efforts gave them the controls necessary to address their toolings-related issues. Ultimately, this new system allowed them to monitor production more efficiently, saving time and money for the business.
In summary, the OEM's journey to digital transformation with eMoldino's manufacturing asset management software was a success. They were able to unlock supply chain visibility and take control of their toolings with eMoldino's asset monitoring system. Unobstructed visibility in the operations process not only helps improve efficiency but also improves the bottom line. With streamlined manufacturing processes, companies and to benefit from lower costs, less downtime, and reliable production schedules. All that being said, the critical question remains - how much control do you have over your manufacturing assets? If it's less than you'd like, now is the time to take action and contact us to get your business on its way to becoming digitally transformed!
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