How AI/ML Solutions Are Delivering Value to the Aftermarket

The fusion of artificial intelligence (AI) and machine learning (ML) is transforming aftermarket services, redefining what is possible across all aspects of planning, pricing, and servicing.  

Advanced demand planning with ML forecasting  

ML-powered solutions offer customers forecasting capabilities by analyzing a broad array of variables, including historical sales and service data records, economic indicators, and market trends, giving a nuanced understanding of demand drivers.  

Here’s how ML-based forecasting delivers value to help companies achieve new levels of supply chain visibility, responsiveness, and resilience:  

  • Extensible Forecasting: Precision forecasting with ML models that incorporate causal data specific to each customer refine accuracy by leveraging demand drivers unique to individual market dynamics. 
  • Probabilistic Demand & Picks Forecasting: ML determines the probability of various demand or pick scenarios for efficient inventory management. Accurate probabilistic forecasting helps optimize stock levels to ensure the desired service level with minimal excess.  
  • Continuous Decision-making Refinement: ML learns from the decisions of seasoned planners to calculate approval probabilities, enhancing the automation process and supporting planners of all experience levels in making informed decisions.  

By integrating Syncron’s ML-based forecasting into parts planning strategy, customers can unlock transformative potential:  

  • Predict demand more accurately: Utilize the vast quantities of ever-changing customer and market related data to accurately anticipate customer needs with unprecedented accuracy.  
  • Manage inventories more efficiently: Optimize inventory levels to meet demand without overstocking.  
  • Respond swiftly to market dynamics: Adapt rapidly to changes in the marketplace, ensuring your supply chain remains resilient and responsive.  

B2B price optimization with AI price tiering 

AI-powered price solutions empower businesses to navigate the complexities of price elasticity, tailor pricing for specific customer segments, and utilize market-leading scenario planning techniques.  

They help companies maximize profits via value-based pricing and optimal price tiering and allow decision-makers to understand customers’ willingness to pay for a product and their reactions to different pricing strategies. 

Here’s how AI-based pricing delivers value to help companies achieve the maximum value and profitability for each customer segment it serves:  

  • Price elasticity analysis: AI analyzes performance of varying prices in markets, leading to the ability to optimize pricing and make more informed decisions on pricing strategies.  
  • Segment-specific strategy development: AI enables targeted pricing strategies catering to the unique needs and price sensitivities of different customer segments, ensuring more personalized and effective pricing.  
  • Quotation win rate analysis: AI can predict what price level should be used for quotation vs. the risk of losing a deal based on historic performance. 

By integrating Syncron’s AI-powered Price Solution into parts or contract pricing strategy, customers can unlock transformative potential:  

  • Optimized revenue and profitability: Intelligently adjusting prices based on elasticity of demand, companies can drive revenue and margins.  
  • Customized customer experiences: Tailored pricing to meet the diverse expectations of a variety of customer segments, boosting loyalty and satisfaction.  
  • Smarter decision making: Scenario planning tools powered by AI provide insights into potential market changes, helping businesses adapt their strategies proactively.  


Revolutionizing warranty claims with AI risk assessment   

Warranty claims fraud has become an expensive problem for manufacturers in recent years. AI-powered warranty solutions empower businesses with insights and predictive capabilities, improving the integrity and efficiency of the claims management process.  

Here’s how AI-based warranty management helps companies detect and prevent fraud:  

  • Advanced pattern detection: AI algorithms detect and alert anomalous patterns which might evade conventional scrutiny indicative of fraudulent claims providing early identification and mitigation of potential fraud.  
  • Predictive fraud scoring: Claims undergo AI analysis, producing in a fraud score that quantifies the likelihood of fraudulence. Claims exceeding predefined risk thresholds are flagged for further investigation, automating and streamlining the review process.  
  • Automated claim verification: Cross-referencing claim details against a wealth of data, including product usage and service history, the AI rapidly identifies any discrepancies or verifies the claim.  

By integrating Syncron’s AI-powered Warranty Management Solution into warranty strategy, customers can unlock transformative potential:  

  • Enhanced accuracy and efficiency: AI precision reduces manual effort in fraud detection, accelerating the verification process for legitimate claims while ensuring fraudulent claims are meticulously scrutinized.  
  • Reduced costs: Minimizing fraudulent claims leads to significant cost savings, directly impacting the bottom line.  
  • Improved customer satisfaction: Efficient and transparent claims process enhance the trust and satisfaction of genuine customers, reinforcing brand loyalty.  

At Syncron, we leverage the power of AI to bring unparalleled precision and foresight to aftermarket solutions. Our AI solutions are not just about technology but about enabling smarter business decisions, reducing risks, and delivering exceptional value to our clients.  

Discover the potential of AI with Syncron, where innovation meets efficiency.