When the leading air conditioning manufacturer wanted visibility over their outsourced tooling management, eMoldino facilitated significant financial opportunities for them by transitioning their tooling management approach from subjective guesswork to data-driven decision-making, thereby providing comprehensive visibility and control over their outsourced tooling operations.
The Challenge
Leveraging advanced technology to optimize business operations is crucial, yet numerous companies, including those in prominent manufacturing industries, struggle to keep pace with these trends and rely on manual processes.
According to a study, nearly 48% of manufacturing companies still rely on spreadsheets and manual data entry, and 37% express lack of trust in the accuracy of their data, hindering their ability to take effective action based on the available information.
In the case of a prominent global air conditioning company, efficient management of their outsourced tooling and achieving transparency in the supply chain presented significant challenges. With a considerable portion of their tooling being managed by external suppliers, they faced numerous complexities and limitations in obtaining timely and accurate data. In addition, the reliance on manual data collection and verification methods proved inefficient, prone to errors, and incapable of providing real-time insights.
Also, the absence of real-time visibility into parts production volumes and tooling utilization was a critical obstacle, preventing the conglomerate from making data-driven decisions. Particularly in the current environment of high product demand, they urgently needed a reliable solution to monitor and optimize their outsourced tooling efficiently. Relying on manual data collection methods resulted in delays, inaccuracies, and difficulties in verifying the information received from suppliers.
The global air conditioning company recognized the urgent need to transform its tooling management practices, seeking a solution providing real-time visibility, accurate data, and actionable insights. In addition, they required a robust tooling digitalization platform that could seamlessly integrate with their existing infrastructure and processes, bridging the gap between their internal operations and suppliers.
The Solve
Most manufacturing professionals (76 percent) have recognized real-time data analysis software solutions as a top priority.
To address the company's challenge of managing its outsourced toolings and achieving transparency in its supply chain, eMoldino provided the conglomerate with a comprehensive digitalization platform. This cloud-based solution offers a range of innovative features designed to optimize tooling management and enhance operational efficiency.
The platform leverages wireless IoT sensors that securely transmit critical performance data from the company's tooling to an encrypted server. eMoldino's advanced software processes the captured data, utilizing AI and ML algorithms to generate custom insights. The intuitive dashboards provide the global manufacturer with real-time analytics and actionable information, enabling them to make informed decisions regarding supply and demand. For example, they can track the production volume of parts in real time, monitor their tooling utilization rates, and identify potential bottlenecks or inefficiencies in their production processes.
To meet the specific requirements of the air conditioning company, eMoldino's technical experts collaborated closely with the company's teams during the implementation process. As a result, the platform was customized to accommodate the company's unique production processes and tooling specifications, ensuring a smooth transition and maximizing operational efficiency.
The Impact
Implementing the tooling digitalization platform had a profound impact on the company's operations, transforming their operations and driving significant business improvements.
The real-time visibility into tooling performance and production metrics enabled the global air conditioning manufacturer to make data-driven decisions quickly and accurately. By monitoring the production volume of parts in real-time, they could proactively manage their supply and demand dynamics, ensuring timely delivery of their products to meet the high market demand.
By identifying underutilized tooling and production inefficiencies, they could take corrective actions promptly, minimizing downtime and maximizing resource resource utilization leading to increased operational efficiency and cost savings, as they could eliminate unnecessary expenses associated with excess tooling or idle production capacity.
The platform's seamless communication and data-sharing fostered stronger collaboration between the OEM and outsourced tooling suppliers. With accurate and real-time data available to both parties, they could proactively address any production issues, coordinate production schedules, and ensure alignment across the supply chain. This resulted in improved supplier relationships and reduced lead times.
The tooling digitalization platform also enabled the global OEM to gain valuable insights into their tooling lifecycle and performance trends. By analyzing historical data and identifying patterns, they could optimize maintenance schedules, proactively address potential tooling issues, and extend the lifespan of their tooling assets. This reduced maintenance costs and minimized production disruptions caused by tooling failures.
The company remains engaged in a collaborative partnership with eMoldino to harness data-driven insights that drive continuous improvement, meet customer demand, and establish itself as a leader in the air conditioning industry.
