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How to Leverage Business Analytics for Asset Management in Transportation Industry

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Transportation is one of the world’s largest industries. Its sectors range from taxis to trucks, airplanes, trains, courier services, ships, barges, warehouses and logistics services. In total, during 2015, core transportation revenues in the U.S. is projected to be $974.4 billion.

The key site selection criteria for the logistics industry is location, both in relation to markets and to supply chains. Location is also important for its impact on transportation costs. Annual operating costs are an important evaluation criteria for site selection as well. Over recent years, globalization placed intense new demands on the transportation and supply chain sector. FedEx, for example, provides a wide variety of freight and package delivery services in 220 nations worldwide, processing 9 million packages daily. Its global fleet includes over 660 aircraft and 100,000 trucks.

When operating in the logistic business with hundreds of trucks that need to be monitored every day, managers have to track each one of them and maximize the uptime with conventional methods. “We had very old software that couldn’t integrate purchasing, logistics, maintenance planning, warranties or any critical component of inventory management for over 9,000 SKU”, says Carlos Belmar, logistics manager for a transportation company, “We’d end up with parts we didn’t need, cost overruns and trucks that weren’t available.”

The industry is looking for a system to support operations of the deliveries and transportation units to help optimize asset management and enable preventative maintenance. Maintenance planning and control and preventative maintenance are crucial tasks for logistic companies – leaks in pipes or containers or overdue maintenance schedules could have disastrous consequences for businesses.

How Cresco’s Asset Management Solution Helps

With years of experience in the consulting business, Cresco International has been helping clients address similar problems using IBM Maximo Asset Management.

Asset Management Cresco

This solution is not only for asset management, but also has built in capability for inventory management. Moreover, it also provides logistic companies with complete transparency across all of their assets. Just a single click, engineers can display the status of each asset, including all data on that asset, such as maintenance history, regulatory and compliance information and all other relevant specifics. A highly visual interface shows clearly if an asset’s performance or measured value deviates from the norm.

The solution continuously monitors all assets throughout its lifecycle. With extensive historical data, plant managers can identify patterns for wear and tear and abnormal performance. This enables them to carry out preventive maintenance on assets, and also predict where assets may start to break down in the future.

For more information about IBM Maximo Asset Management Solution by Cresco, connect with us today.

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