I recently heard about a new company, ThinkIQ talking with Niels Andersen, someone I’ve known in the industrial software business for (ahem) many years. We conferenced in Brian Anderson, also with ThinkIQ to introduce me to a different take on industrial software–Track material flow, not assets.
Industrial companies are facing disruptions. The Internet of Things (IoT) is changing how things are made, bought, used, and shared. The always-on, always-connected world is changing how consumers expect to conduct business. The combination of Big-Data Analytics, Machine Learning and Cloud computing is changing how applications are built and what they can do.
They told me about embracing digital transformation to run a supply chain more efficiently and collaboratively, make its products safer, and increase the quality of the output, all whilst driving down costs.
ThinkIQ developed what it dubs Digital Manufacturing Transformation SaaS. It delivers material traceability and insight into ways to improve yield, quality, safety, compliance, and brand confidence. “Our fact-based granular and data-centric contextualized view of material flows and related provenance attribute data integrates into existing IoT infrastructures and crosses supply chains to manufacturing processes and beyond. Our customers have saved $10’s of millions by identifying waste and underperforming assets, as well as reducing warranty reserves for quality and safety issues.”