EXALEAD insight engine (AQI) is the solution to the high cost of poor product quality
Warranty costs remain onerous for manufacturers across transportation, high-tech, and building-related industries. Moreover, warranty expenses (including recall costs) are just the tip of the iceberg of the cost of poor quality (COPQ). These costs include internal expenses, like scrap, rework, equipment downtime, and external costs. Those incurred once a product has shipped, including:
- Damage to brand reputation
- Increased customer churn
- Higher warranty costs
- Increased insurance premiums
- Heightened scrutiny from regulators
- Decreased product or asset utilization rates
- Lower sales and net profits
Product quality performance issues cost substantial financial losses for manufacturers annually, and therefore can even result in business closure. However, advancements in big data management technologies and advanced analytics (in this context, insight engines), including artificial intelligence and machine learning, offer hope for improved quality risk and cost management.
Asset Quality Intelligence (AQI) use of advanced analytics deliver quality and reliability intelligence
The EXALEAD AQI solution is designed to help companies achieve four primary objectives:
- More rapidly and accurately detect and understand current or potential quality issues
- Aid support engineers in correcting existing product quality performance problems
- Help quality managers and engineers develop and deploy preventive maintenance measures to avoid potential problems
- Also, minimize future quality issues by providing design, engineering and manufacturing teams (including project and program managers) with lessons-learned intelligence
AQI’s menus and graphs aid users in refining search and analytics options for issue investigation and cause analysis. The solution facilitates integration of determined actions into a task management framework for swift resolution and comprehensive traceability.
