Until recently, operators of large capital equipment owned it outright. Today, we are more likely to find a hospital or a factory purchasing a subscription to a magnetic resonance imaging (MRI) or computer numerical control (CNC) machine and its consumables, much the same way consumers subscribe to a cellphone plan.
Every large manufacturer is on a path toward offering subscription-based consumption models. Doing this while maintaining control over service costs and gray market post-sales revenue leakage is a significant challenge.
Oracle’s Digital Service and Monetization solution helps these companies offer a spectrum of new business models. These could range from subscriptions for consumables and services to product as a service.
Oracle’s Adaptive Intelligence (AI) Apps for Manufacturing allows collection of enterprise data and operational data into a data lake that is used for drawing insights from converged big data.
Oracle IoT Production Monitoring provides rules and notifications to identify anomaly patterns and notify concerned stakeholders so they can take proactive actions thus minimizing downtime and response time.
Integration of IoT PM with other Oracle SCM modules utilizing Oracle IoT Cloud APIs, Oracle Integration Cloud, and Oracle Java Services to exchange information between modules, update rules dynamically, and automatically trigger actions such as generating maintenance work orders.