The railway and shipping industries are essential in transporting goods around the globe. They are the backbone to the global economy.
With increases in capacity and advances in technology, it’s more important than ever for railway and shipping companies to keep their equipment up and running. Because these industries are unique in that the equipment moves around — opposed to industries like industrial equipment manufacturing — rail and shipping companies must optimize service parts inventory across multiple locations with both common and uncommon parts. With Syncron, these companies can do just this.
Because this equipment is constantly in transit, railway and shipping companies need to ensure service parts are available when and where they are needed. Missing parts can lead to idle equipment, which subsequently impacts delivery times, schedules and the local and global economies.
With Syncron, these companies can better anticipate demand, using factors like service history to properly stock parts in the best places to ensure maximum product uptime. This helps manufacturers know when and where replacement parts need to be ordered and stocked, oftentimes eliminating excess inventories and overhead costs.
In the railway and shipping industries, equipment is almost always in use and intended to last for decades — and with this comes very frequent repairs.
With Syncron, companies can better manage rotable planning, eliminating the risk of overstocking and minimizing manual effort. Syncron takes into account repair lead time, supplier lead time and scrap rates to optimize the rotable pool — saving both time and money.
In an industry where manufacturers are looking for new sources of revenue, optimizing service parts pricing can be a huge revenue and profit driver.
Many companies still rely on manual processes and Excel spreadsheets to price their service parts. With Syncron, manufacturers can implement a value-based approach, enabling teams to better analyze and respond to changing market conditions. Ultimately, automating and optimizing service parts pricing leads to improved revenue and profits.
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