All Aboard Digital Transformation
The locomotive, being one of America’s first and foremost modes of rapid transportation, is getting an Internet of Things (IoT) enabled Digital Transformation make-over. GE’s locomotive, Tier 4, has been equipped with over 200 sensors as a way to gain better insight into its internal workings, and improve maintenance and overall Asset Performance Management (APM).
The sensors and companion Cloud-based software for the Industrial Internet of Things (IIoT), Predix, will enable GE to use Big Data Analytics and further the Digital Transformation of Tier 4 as well as 21,000 other GE locomotives. Seth Bodnar, Chief Digital Officer of GE Transportation and President of GE Transportation Digital Solutions stated, “We’re trying to weave a digital thread around the entire railroad operation.” To read more about GE’s plans to transform railway functionality and other improvements expected to be made click here.
Intelex Expands with New Data Service
Environment, Health and Safety (EHS) and Quality Management software provider, Intelex announced the availability of a new data management solution for enterprise customers. The Data Service offering is designed to bring together relevant EHS and quality data and incorporate it with other strategic corporate data sets. The objective is to enable data professionals to rapidly visualize, collaborate, and correlate EHS and quality trends alongside data from other areas of the business for accurate, data-driven decision making.
Commenting on this is LNS Research Analyst Peter Bussey saying, “This is good example of how EHS software vendors are starting to take advantage of Big Data analytics to give their customers new tools to drive performance improvement. By facilitating the analysis of large volumes of EHS data with operational data using existing business intelligence tools, this type of solution opens the door to identifying leading indicators that can be used to be not only be proactive, but predictive, in managing risk.” To read more on this click here.
Saab & Microsoft Simplify Manufacturing Models
Ground breaking training has been announced amongst manufacturers everywhere as Saab, the Australian global defense and security company, and Microsoft work together. The purpose is to transform the way in which 3D holographic applications can be used.
Saab’s Head of Training and Simulation, Inger Lawes, stated that Saab wanted to transition from model designing done on a computer to a holographic model that represents what was designed on a computer to better understand the model and assembly. Lawes also stated that the company would start the holographic designs by using a LEGO model of its Gripen fighter jet. He said, “We’re going to use model-based assembly software as the background, but we’re also going to use LEGO components. Everyone understands LEGO, so it is a fantastic vehicle to demonstrate this sort of thing and get people as enthusiastic as we are and prove to them that you can build things in this environment and if we can build it with LEGO we can do it with everything else.” To read more about this project between Saab and Microsoft click here.
Liquidity Services, Inc. Lands Contract with U.S. Department of Defense
A solution provider in the reverse supply chain, Liquidity Services, Inc. announced its new contract with the Defense Logistics Agency (DLA) of the U.S. Department of Defense (DoD). The contract will entail Liquidity Services to collect all scrap property that the DLA offers. Revenue will be shared in payments equal to 64.5% of the gross resale proceeds, as Liquidity Services manages the DLA and DoD’s inventory scraps.
Commenting on this transaction is LNS Principal Analyst, Dan Miklovic who said, “Managing MRO inventory, especially ensuring old and obsolete stock is disposed of, is a key to freeing up capital for investment in new technology. More companies should make the effort to clean out their storerooms. With the investment cycle in IIoT enabled Smart Connected Assets just beginning, now is the time to get processes right.” To read more details pertaining to the contract click here.
Access this report, "A Roadmap to Enabling New Business Models with Smart Connected Assets," that explores the development of Smart Connected Assets to enable new business models for success as the fourth industrial revolution comes into view.