August 29, 2016 – ABB, a power and automation technology group, introduced a new service designed to help customers reduce the risk of production loss due to non-available parts.
The ABB Parts Fingerprint service captures equipment configurations, audits parts stores, and develops recommendations and replacement strategies to reduce production risk and find cost efficiencies.
Services such as the ABB Parts Fingerprint can produce other benefits as well. One customer was able to avoid an insurance premium increase by demonstrating a higher level of risk mitigation, while another was able to justify new capital investment by identifying parts obsolescence issues that would place production at risk.
Industry trends such as lean manufacturing, compressed product life cycles and the prevalence of third-party parts suppliers have driven companies to find new ways to maintain required part inventories to sustain production demands.
To help understand how to address these challenges, ABB commissioned a third-party study and found that its customers underestimated their critical spare needs by 60 percent. ABB further found that many of its customers had no visibility into escalating production risks due to parts inventory deficits.
This industry information led ABB to develop the ABB Parts Fingerprint, in accordance with its family of ABB Fingerprint assessments for equipment and processes. ABB Fingerprint services diagnose issues in a customer’s equipment and process performance, helps to implement fixes that close these gaps, and helps to sustain performance by setting up regular assessments that include remote-enabled services.
About ABB
ABB (www.abb.com) is a global technology company in power and automation that enables utility, industry, and transport & infrastructure customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in roughly 100 countries and employs about 135,000 people.
