LONDON--(EON: Enhanced Online News)--A new project by analytics and advisory firm Quantzig has created savings of $25 million for a leading electrical, automation and control products manufacturer. The research study enabled the company to improve its warranty management process and reduce costs.
Working in the manufacturing industry often involves many partners that provide a wide range of services and supplies. Keeping track of all these contractors and companies can become daunting, and many details may become lost in the process. Good visibility and a strong understanding of operations are essential to running an efficient business and preventing wasted money and effort.
The client for Quantzig’s latest project was looking to reduce the error rate in the invoices sent for warranty claims processing. Because the company has a diversified portfolio of equipment, it works with a large number of repairers, making it difficult to obtain visibility into processes or achieve consistency across repairers.
Quantzig’s solution was to provide a single warranty management platform that integrated all the claims and warranty data in one place. It used statistical modeling to reduce errors and estimate time and effort required for warranty management, as well as predictive analytics to identify and eliminate fraudulent warranty claims. The result was substantial savings and improved visibility into the claims process.
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Quantzig’s industrial and manufacturing portfolio
The industrial and manufacturing sector is constantly driven by technological innovations, scientific planning, and resource utilization strategies. Due to technological advancements, there has been a significant surge in data across the value chain. Quantzig helps clients employ a data-based approach and make the most out of the latest technologies. It also assists in the implementation of the latest methodologies, analytics, and modeling to increase organizational efficiency.
Solutions provided by Quantzig
- Order management
- Total enterprise cost
- Order fulfillment
- Sales and operations planning
- Logistics engineering
- Contract and warranty management
- Service planning and forecasting
- And many more
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 12 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.