NEEDHAM, Mass.--(BUSINESS WIRE)--PTC (NASDAQ: PTC) today announced that it has added new capabilities for connected causal and maintenance forecasting in its leading Servigistics® Service Parts Management solution. The new capabilities are powered by the ThingWorx® Industrial Innovation Platform and enable customers to leverage data from connected equipment to increase forecast accuracy, improve service levels and availability, and reduce inventory investment.
Servigistics is a purpose-built solution with a long legacy of optimizing service parts networks for over four decades. With Servigistics, clients, including Pratt & Whitney, Metso, Cummins, and the US Air Force, are empowered to unleash the potential of their service businesses. With the latest release, PTC continues its thought and innovation leadership by adding new connected features, new forecasting algorithms to enable improved repair forecasting, new optimization features including space capacity optimization, new performance-based logistics management features, and new techniques for maximimizing use of inventory in complex chains.
“At Pratt & Whitney, our large commercial engines power more than 25 percent of the world’s mainline passenger fleet,” said Rob Tomastik, associate director of Materials Center of Excellence, Pratt and Whitney. “We succeed when our customers get the service they need when and where they need it. Servigistics ensures that our operations continue to exceed their high standards.”
The new connected causal and maintenance forecasting capabilities usher in the next generation of forecast accuracy and inventory optimization capabilities for service parts supply chains. Servigistics now enables the use of the status of serialized components to predict the removal of Life Limited Parts’ (LLPs), retables, and maintenance events. These new capabilities enable users to leverage the proprietary algorithims of Servigistics Service Parts Management with ThingWorx to improve forecast accuracy by using data from connected equipment as well as from connected components.
“Many of our customers are leveraging ThingWorx to innovate and derive value from the IoT and their digital transformation efforts,” said Leslie Paulson, general manager, Servigistics Business Unit, PTC. “Servigistics enables our customers to capitalize on the value of the data coming from their connected assets to improve their service businesses and expand the services they provide to their customers.”
- Vision Video: Connected Service Parts Management
- ThingWorx Industrial Innovation Platform
- PTC Service Transformation Journey
- Harvard Business Review: “Why Every Organization Needs an AR Strategy,” authored by PTC CEO Jim Heppelmann and Harvard Professor Michael Porter
About PTC (NASDAQ: PTC)
PTC helps companies around the world reinvent the way they design, manufacture, operate, and service things in and for a smart, connected world. In 1986 we revolutionized digital 3D design, and in 1998 were first to market with Internet-based product lifecycle management. Today, our leading industrial innovation platform and field-proven solutions enable you to unlock value at the convergence of the physical and digital worlds. With PTC, manufacturers and an ecosystem of partners and developers can capitalize on the promise of the Internet of Things and augmented reality technology today and drive the future of innovation.
PTC, Servigistics, ThingWorx, and the PTC logo are trademarks or registered trademarks of PTC Inc. or its subsidiaries in the United States and other countries.