Beyond the Break-Fix Model
For service organizations, one of the most useful applications of connected devices and IoT data is their ability to actively monitor the condition of field equipment. This starts by building a nuanced profile of how equipment should be operating versus how it’s actually operating:
- Collect data on equipment from multiple perspectives
- Maintain accurate history of the data on each individual asset
- Keep tabs on the bill of materials (BOM) over time
Compile service call data around equipment across multiple years
From there, you can get a comprehensive idea of what your equipment looks like over time, including its average wear and tear, and use predictive analytics to build a model for proactive maintenance. This gives service leaders a huge opportunity to reduce costs, maintain accurate inventory levels, and increase profitability by forecasting parts consumption over the coming quarters.
John, Mike, and Joe have enough industry experience to know that no matter what preventive measures you take, equipment still breaks. Luckily, having the right data on hand can help you temper fires more strategically.
Let’s say two of your customers run into the exact same issue, but you only have one of the parts you’ll need for both. How do you prioritize service in this case? Service managers can call upon contract data to help them understand what sort of entitlement customers have on an asset. High-stake customers and scenarios should warrant more urgent service. Additionally, Joe points out that it’s invaluable to know the nuances of each part or piece of equipment that needs fixing, as each one could require highly specific parts or expertise.
Communication Is Key
Staying on a note of realism, John reminds us that the existence of data alone doesn’t guarantee success. In speaking to various organizations, John occasionally hears people say they don’t know where their assets are or what service level they fall under, but of course, someone at each company has this information. This brings us to a point that Joe also addresses in his blog: Communication is key to making the most of your data.
In siloed organizations, some planners may have a distant idea that asset data exists and how it could help, but they don’t know who to contact about it. On the other end, field service management may not readily share their data without a clear understanding of how it could help them. Furthermore, supply chain folks, sales, and service all need different views of data on assets. That’s why the right configuration and distribution of asset data is essential to keeping everyone on the same page in terms of goals, while sharing a different part of the story across teams.
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