Industrial manufacturer reduces warranty claim fraud with timely insights
Learn how the Fosfor Decision Cloud empowered users with immediate insights on warranty claims to prevent major revenue loss, saving USD 500K in operational costs
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The power of AI helps manufacturers create value through connected data and cloud ecosystems, augmented analytics, and better data management. These play a major role in building a resilient supply chain, driving sustainable business growth, and scaling new IT. The Fosfor Decision Cloud helps manufacturers harness the power of AI to transform and modernize their operations. We do this through solutions for R&D, procurement, supply chain and logistics, Ops and maintenance, sales and marketing, after-sales service, and sustainability management.
Learn how the Fosfor Decision Cloud empowered users with immediate insights on warranty claims to prevent major revenue loss, saving USD 500K in operational costs
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For manufacturers seeking to improve their financial performance and customer satisfaction, the quickest route to success is often a product-quality transformation focusing on reducing warranty costs. When fulfilled while backing exceptional product quality, product warranties positively impact sales, profitability, and customer loyalty. On the other hand, when warranties are backed by sub-optimal products, it results in large warranty reserves that directly impact the organization’s profitability. This negatively impacts the organization’s brand, Image, and equity.
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Artificial intelligence (AI) and machine learning (ML) technologies are expanding rapidly as organizations seek to capitalize on the value of their data. Half of the companies surveyed in a 2020 Mckinsey study have already adopted AI in at least one business function.
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Industry 4.0 builds upon the enterprise-wide automation stack (that characterized Industry 3.0), focusing on integrating more (and newer) technologies, like IIoT and data science, into the production environment. The goal is to blur the chasm between the physical (Operational Technology) and the digital (Information Technology) world - creating a fully connected, integrated, data-driven, and autonomous digital factory.
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