This new partnership introduces a first-of-its-kind solution for critical maintenance, repair, and operations production (MRO) parts and equipment management based on real-time predictive maintenance insights, significantly reducing unplanned downtime and inventory costs.
New York, NY, March 14, 2024 – Augury, a leading provider of industrial AI solutions that improve machine health and process health, and DSV, a global supplier of transport and logistics services, are thrilled to announce a partnership that introduces a new Parts As a Service (PaaS) solution. PaaS uses machine health to predict machine faults before they occur and automates the procurement of replacement parts to avoid unplanned downtime while reducing spare parts inventory.
This collaboration marks a significant leap forward in the industry, offering a powerful workflow that extends DSV’s current Inventory Management Solutions (IMS) and logistics while taking full advantage of Augury’s Machine Health, the industry’s leading AI-driven prescriptive analytics solution that predicts and prevents equipment failure to improve overall machine performance.
DSV’s (IMS) helps companies eliminate the overhead of managing and sourcing spare parts with a complete service solution, from planning and procurement through transportation and logistics. This strategic approach enhances revenue operations and working capital efficiency using Vendor Managed Inventory, Supply Chain Finance, and AI technology. With the introduction of PaaS, the partnership takes these solutions to new heights by incorporating a proactive means of predicting, ordering, and scheduling parts. This innovative approach empowers businesses to optimize their spare parts management like never before and get the right parts at the right time at the right place.
Key Features of PaaS:
- Predictive Analytics: Augury’s cutting-edge prescriptive Machine Health solution enables manufacturers to manage their production risk by anticipating equipment failures and proactively ordering necessary parts, reducing downtime and spare parts inventories, and enhancing overall operational efficiency.
- Smart Ordering: PaaS streamlines the DSV planning, procurement, and logistics process by automating the need for spare parts based on real-time insights from the field, ensuring that the right parts are ordered at the right time in the right place, while minimizing delays and unnecessary inventory carrying costs, and avoiding expired parts warranties.
- Dynamic Scheduling: The integrated workflow allows for dynamic scheduling of parts delivery and maintenance activities, ensuring that resources are allocated efficiently and effectively, uptime and planned downtime schedules are maintained, and spare parts inventory levels are reduced.
BAZAN Group, an early adopter of this integrated workflow, already reports substantial benefits, including significant cost savings and risk reduction in managing spare parts. “When you don’t know what’s in front of you, usually you buy more. You purchase more, and your shelves are full of spare parts. We found out that they lay on the shelves for more than two to three years, without any use, which is a huge waste of time and money,” explains Adi Segal, Head of Maintenance and Service with BAZAN. “Now that we combined Machine Health with logistics, I get to control my budget and know where to invest first. I can present to top management where to invest or upgrade a machine because we have spare money now.”
“DSV is committed to providing innovative technology solutions that address the evolving needs of our clients,” said Matt Ritchie, DSV’s Managing Director. “The introduction of Parts as a Service is a game-changer in inventory management, allowing businesses to proactively manage their parts, instead of reacting to issues, resulting in substantial cost savings and risk mitigation.”
“We are excited to partner with DSV to bring Parts as a Service to the market,” said Saar Yoskovitz, Augury’s CEO. “Increasing our ability to integrate our Machine Health platform with a wide range of solutions from Inventory Management to CMMS systems creates a new ecosystem for customers, innovating how they can use data-driven insights to change how they work.”
As businesses navigate an ever-changing landscape, the Augury and DSV partnership sets a new standard in strategic inventory management solutions. PaaS is poised to redefine how businesses approach spare parts management, offering a powerful, integrated workflow that delivers tangible results.
For more information about PaaS and the Augury-DSV partnership, please visit https://www.augury.com/partners/dsv/.
About Augury:
A leader in Machine Health and Process Health solutions, Augury uses purpose-built AI technology, trained by industry experts and the world’s largest data library, to help manufacturing and industrial companies eliminate production downtime, improve process efficiency, maximize yield, and reduce waste and emissions. Our global customers achieve 3-10x ROI, often in a matter of months. Together with our customers, we are pioneering Production Health to build a world where the combined work of people and machines makes life better in every way.
For more information, please visit: www.augury.com
About DSV:
DSV is one of the world’s leading freight forwarders. We help companies connect with the world and ensure smooth, efficient storage and transport of their goods. We keep supply chains flowing – from shipper to customer doorstep – and help to deliver sustainable growth by giving our customers the logistics services they require.
DSV has been part of the technology revolution including semiconductors for more than 30 years with supply chain solutions that are innovative, flexible, and tailor-made for the industry. We cover the entire supply chain from multi-tier fulfillment and merge-in-transit to white glove deliveries and after sales services.
Combining the latest technologies and the talent of our strong global workforce, we make supply chains leaner and greener. That is how we will help to shape a sustainable future.
For more information, please visit: www.dsv.com
Media Contact:
Audrey Surette
augury@pancomm.com
