One of the world’s leading authorities on Industrial Internet of Things (IIoT) platforms has launched a first-of-its-kind offering that will help manufacturers gain visibility of current performance, analyse production bottlenecks and validate investments.
PTC, which works with hundreds of companies and research centres in the UK, is bringing the new ThingWorx Digital Performance Management Solution (DPM) solution to market, a self-monitoring, self-measuring tool for closed-loop problem solving.
DPM delivers one universal view of performance, communicated in an understandable business metric — hours.
This metric is easily understood across front-line workers, managers, and executives, and provides a foundation for an enterprise-scale solution. It also supports investment accountability by validating outcomes for transformational investments with real-time production data and easy-to-calculate financial improvements.
Craig Melrose, EVP of Digital Transformation Solutions at PTC, said: “Manufacturers consider digital transformation essential, yet often see only incremental improvements as opposed to large-scale transformational improvement.
“The new ThingWorx DPM Solution enables companies to address the most valuable manufacturing improvements and solve common challenges to drive production efficiency and transformation at scale.”
With DPM, companies can identify the right performance issues to drive efficiency, empower frontline workers to take corrective action, gain visibility of bottlenecks, root causes, and the most critical areas to focus on for improvement.
Users can measure results with performance data to ensure actions produce the desired outcomes and achieve rapid time to value and scale, with initial results in as little as 90 days.
Jerry Gootee, global advanced manufacturing sector leader with Ernst & Young (EY), said: “All our manufacturing clients, regardless of industry, face the constant challenge of identifying and quickly eliminating production bottlenecks.
“The market needs a scalable technology solution that can systematically and dynamically identify production constraints, prioritise root causes, recommend and manage corrective actions, and validate outcomes measured as new production hours of capacity.
Jim Heppelmann, president and CEO of PTC, said: “The release of our ThingWorx DPM Solution represents a significant milestone in our IIoT business.
“This software marks the beginning of a new phase in PTC’s IIoT growth strategy as we evolve our positioning of ThingWorx as a suite of powerful enterprise solutions that power significant enterprise efficiency and drive business value.”