Finding Aircraft Parts Before They Are Lost, With Predictive Analytics
Finding Aircraft Parts Before They Are Lost, With Predictive Analytics
5 PagesFINDING AIRCRAFT P ARTS BEFORE THEY ARE L OST , WITH PREDICTIVE ANAL YTICS It has been decades since just-in-time (JIT) strategy was first perfected. The criticality of inventory management for efficient production can hardly be overstated. However, not all manufacturing is the same. For high volume manufacturing for instance, it’ s about perfecting the reduction of overheads and minimizing statistical defects. But, there are instances of manufacturing businesses where objectives, while seeming similar, may differ. Take aircraft manufacturing, for instance. The manufacturing process is complex, considering the number of parts and assembling complexity across geographies and the precision factor in quality control. The cost of reworking or scrapping parts can run into hundreds of
