ABB Parts Fingerprint cuts downtime risk by putting right parts on site

2016-08-22 - New assessment service for parts management also helps cut costs and improve purchasing power

August 22, 2016, Westerville, Ohio, USA – ABB, the leading power and automation technology group, introduced a new service that helps customers reduce the risk of production loss due to non-available parts, and to cut costs by identifying and addressing potential weaknesses in the parts supply chain.

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.

ABB (www.abb.com) is a leading 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.

For help with any technical terms in this release, please go to: http://www.abb.com/glossary

For more information please contact:
Dave Biros
Global Product Marketing Manager
ABB Process Automation Service
O: +1 614 818 6484
M: +1 614 530 5257
E: dave.biros@us.abb.com

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