The Parts Purchase Intelligence uses AI as well as a company’s empirical parts replacement rate to identify sales opportunities
Entytle, Inc., which provides a purpose-built installed base solution for Industrial OEMs, announced the launch of its Parts Purchase Intelligence workflow today.
With the massive complexity and variety in their installed bases, Industrial Manufacturers’ aftermarket teams struggle to determine service and parts replacement intervals. The variety of machines and configurations in the installed base, combined with the variability in operating duty cycles and maintenance practices of different types of customers, makes it such that the same replacement interval cannot be applied in every situation. On the other hand, some OEMs are more thoughtful in developing and maintaining replacement rates or interval maintenance sheets by studying critical parts of an asset. However, this data is often not customer-specific and is typically not easily accessible and usable across the organization.
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This is the challenge that Entytle solves with the Parts Purchase Intelligence workflow it launched today. The Parts Purchase Intelligence can use customers’ own replacement rate data as well as generate replacement rates using Entytle’s proprietary machine-learning algorithms from historical transactions. Entytle’s recommendation engine can then analyze these values to generate leads for the specific parts that are under analysis.
Aftermarket Sales & Service teams can generate quick hunting lists based on organization, parts, and assets, while Account Managers can forecast the required parts and components easily. It’s also possible to create a slow-moving parts inventory which can be identified and run through the Purchase Parts Intelligence. This workflow also aids Marketing teams in planning their lead-generation campaigns and assists Channel Partners & Distributors who are proactively driving aftermarket revenue from the installed base.
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The Purchase Parts Intelligence offers the following benefits to OEMs:
– Flexibility to use internally calculated replacement rates or Entytle’s machine algorithm to determine replacement rates.
– The efficiency of the engine increases when combined with the Entytle recommendation engine to generate accurate leads.
– Rapid and easy adjustment to replacement rates and instantly apply to proactive rule-based sales campaigns.
Reach out to Entytle to understand more about how the Parts Purchase Intelligence support can unlock and further increase the lifetime value of your Installed Base.