In the world of fleet management, uptime is a key business success metric. Unscheduled downtime disrupts the supply chain, resulting in lost revenue and other negative business impacts. To make matters worse, repair times are often measured in weeks due to the time it takes to diagnose a problem and obtain the needed parts. Not only does this affect the fleet owner, but manufacturers must manage growing warranty costs due to these inefficiencies.
When a vehicle encounters a mechanical problem, it is difficult for the driver, engineer or pilot to know the severity of the problem and the best course of action. A wrong decision can jeopardize safety or risk additional damage. At the same time, a minor problem can unnecessarily take a vehicle out of service.
This is a market where smart management through an Internet of Things (IoT) strategy holds great promise for maximizing uptime and keeping transportation of all types in service. A combination of remote diagnostics, an optimized repair process and advanced data analytics can virtually eliminate unscheduled downtime by proactively monitoring on-board sensors, automating the diagnostic process, and identifying service facilities best equipped to solve the problem quickly.