Industrial Internet (IIoT)
Generating IIoT Impact
Genpact's Lean DigitalSM approach harnesses advanced industrial internet platforms like Predix from GE by applying a business-domain lens to identify what generates impact and what solutions are practical and effective to implement. The combination of Lean principles, advanced digital technologies, a discovery process that involves design thinking, and deep experience across various industries helps industrial organizations maximize the value from machines, systems, people, and data.
Genpact's practical Lean DigitalSM approach helps reimagine the possibilities and realize industrial IIoT's potential faster.
- Smart Services - Health and performance of IIoT-enabled assets are automatically managed and optimized through remote monitoring, diagnostics, and prognostics. Actionable insights for proactive maintenance of mission-critical assets, scheduling of field engineer visits, timely spare parts order and dispatch, and better pricing of service contracts all help reduce unplanned downtime and cut maintenance cost.
- Intelligent Manufacturing - Fully integrated data-to-product flows allow real-time optimization of manufacturing by connecting demand sensing, materials management, manufacturing shops, logistics, aftermarket services, and product design to automatically sense, act, and respond to changes in the operating environment, such as fluctuations in customer demand.
- Connected Supply Chain - Better control, reduction of excess inventory, lower logistics costs, increased responsiveness to customer needs or sudden changes in demand, accelerated order-to-cash cycles, and a value chain aligned with customer experience expectations.
Predix cloud platform is at the heart of Genpact's industrial internet solution architecture. Predix offers an industrial grade solution to connect assets and operations, while meeting end-to-end cyber, informational, and operational security needs. It provides the ability to easily capture, visualize, and analyze the velocity, volume, variety, and complexity of industrial data. Lean DigitalSM provides an outcome-focused and agile approach for deploying and scaling Predix-based solutions even in environments with significant legacy systems and processes.
Genpact helps build and sustain an IIoT Data-to-Insight-to-Action strategy by orchestrating, industrializing, and supporting analytics-based processes to generate growth, cost efficiency, and business agility. Genpact's accelerators and tools help reduce time and effort by 15%-30%, and costs by up to 25%, enabling enterprises to derive greater value and accelerated business impact.
A power generation major reduced 35% working capital and $16 million in annual inventory cost by implementing reliability-based prognostics solution
An airline company reduced downtime by 15%, resulting in more than $50 million in cost saving, through a solution, based on machine learning, capable of forecasting critical spare-part needs proactively
An aviation major reduced cost of fleet support operations by 40% through master data management and analytics, resulting in $14 million increased annual profit
An energy major saved $4 million per quarter by improving the efficiency of its oil well bore drilling process and introducing a decision-support system that used machine learning to make recommendations about drilling course in real time