Quantifying the ROI with PTC
Organizations today are under tremendous pressure from management and customers to deliver a higher quality of products and services at lower costs, and to do so using existing resources. Any expenditure companies do make to help them achieve this goal is expected to deliver a measurable, hard-dollar ROI—and to deliver it quickly. For product manufacturers in particular, ROI has traditionally translated to “reduce costs.” However, cost is just one piece of the ROI equation.
Today’s market leaders understand that ROI is multi- dimensional and that, in many cases, the cost-savings component can be secondary to other returns such as improving customer satisfaction, brand differentiation, and the collection of accurate data, all of which can also drive increased revenues.
ThingWorx (PTC)The ThingWorx IoT Technology Platform. One Platform. Limitless Possibilities. ThingWorx is the only enterprise-ready technology platform that enables innovators to rapidly develop and deploy smart, connected solutions for the Internet of Things. Build Fast Connectivity and development tools made for IoT enable developers to quickly create, test and deploy solutions faster than ever thought possible. Build Smart Integrated capabilities of the platform enable developers to create more feature-rich solutions in a fraction of the time of other platforms. Build for Enterprises Developers quickly and easily create IoT solutions that are scalable, secure, and meet the needs of the largest of enterprises.
Equipment & Machinery
Leica Microsystems is a leading global designer and producer of innovative, high-tech precision optical systems for the analysis of microstructures as well as a broad product portfolio for histopathology. It is one of the market leaders in the business areas of microscopy, confocal laser-scanning microscopy with corresponding imaging systems, specimen preparation, and medical equipment.
Varian Medical Systems is engaged in the design, manufacture, sale, and service of equipment and software products for treating cancer with radiotherapy, stereotactic radiosurgery, and brachytherapy. It also designs, manufactures, sells, and services x-ray tubes for original equipment manufacturers,as well as replacement x-ray tubes and flat-panel digital image detectors for filmless x-ray imaging in medical, dental, veterinary, scientific, and industrialapplications. It designs, manufactures, sells, and services linear accelerators, digital image detectors, image processing software, and image detection products for security and inspection purposes.
- CONNECTIVITY PROTOCOLS
ThingWorx Industrial IoT platform from PTC, presents examples of IoT value propositions and defines an ROI model for building a business case and tracking results related to IoT initiatives. This paper uses real-world customer results and a set of key metrics to help executives and managers understand the return they should expect when investing in IoT.
- DATA COLLECTED
Downtime, Operating Cost, Response Time, Service Lifecycle
- SOLUTION TYPE
- SOLUTION MATURITY
- OPERATIONAL IMPACT
Impact #1 [Efficiency Improvement - Production Uptime]
Reduce unscheduled downtime
Impact #2 [Efficiency Improvement - Productivity]
Improved service productivity
Impact #3 [Cost Reduction - Customer Service]
Saved service costs by reducing service site visits
- QUANTITATIVE BENEFIT
Cut field service visits by 33% to save more than USD 500,000 annually
Reduced unscheduled downtime by 40%
Average of 700 service calls resolved remotely per month; saved USD 2,000 of service costs for each problem solved remotely
- USE CASES
Process Control & OptimizationProcess control and optimization (PCO) is the discipline of adjusting a process to maintain or optimize a specified set of parameters without violating process constraints. The PCO market is being driven by rising demand for energy-efficient production processes, safety and security concerns, and the development of IoT systems that can reliably predict process deviations. Fundamentally, there are three parameters that can be adjusted to affect optimal performance. - Equipment optimization: The first step is to verify that the existing equipment is being used to its fullest advantage by examining operating data to identify equipment bottlenecks. - Operating procedures: Operating procedures may vary widely from person-to-person or from shift-to-shift. Automation of the plant can help significantly. But automation will be of no help if the operators take control and run the plant in manual. - Control optimization: In a typical processing plant, such as a chemical plant or oil refinery, there are hundreds or even thousands of control loops. Each control loop is responsible for controlling one part of the process, such as maintaining a temperature, level, or flow. If the control loop is not properly designed and tuned, the process runs below its optimum. The process will be more expensive to operate, and equipment will wear out prematurely. For each control loop to run optimally, identification of sensor, valve, and tuning problems is important. It has been well documented that over 35% of control loops typically have problems. The process of continuously monitoring and optimizing the entire plant is sometimes called performance supervision.