CIMdata PLM Industry Summary Online Archive
13 March 2007
Events News
Invention Machine Corporation to Speak at International Conference on Warranty Chain Management
Invention Machine Corporation announced its participation at the 2007 third annual Warranty Chain Management Conference in Tampa, Florida, this week, March 13th through 15th. Stephen Brown, the company's vice president of product marketing, will present on 'Knowledge-Enabled Warranty Chain Management', as part of the conference's 'Warranty Analytics' track on Thursday, March 15th.
According to recent studies, the U.S. warranty business alone accounts for more than $39 billion annually, with roughly two-percent of every sale going to warranty spending. Effective warranty management has the capability to significantly impact a company's bottom line profitability, but Global 2000 manufacturers struggle to minimize lengthy detection-to-correction cycles, due to repeated mistakes that stem from rushing to solve the wrong problem and the lack of visibility to global experience.
"While, as a discipline, warranty management tools and techniques are still in their infancy, solutions do exist that help to significantly reduce defect-time-to-correction and minimize warranty costs", said Brown. "Invention Machine's GoldfireT software leverages warranty data and other technical knowledge sources to deliver precise access to valuable product expertise, empower faster problem resolution and deliver a common language for communicating design intent across the product life-cycle and departmental functions. "
Invention Machine's presentation: 'Knowledge-Enabled Warranty: Concept Extraction for Expedited Problem Resolution and High Reliability Design' highlights the benefits of semantic processing technologies relative to the extended Warranty Chain, including the ability to:
• Leverage technical knowledge and 'lessons learned' by semantically processing warranty databases, historical reliability data, failure reports, internal design notes, industry literature, and worldwide patent data
• More effectively perform Root Cause, FMEA and Value Engineering analyses - analyses that are typically difficult to perform due to lack of access to subject matter experts, lack of access to industry and corporate experience, and lack of time and structured process
• Leverage warranty data to tie design processes, FMEA and defect resolution processes together to ensure closed-loop design for quality
The annual Warranty Chain Management Conference, sponsored by ALG Associates, attracts over 200 attendees representing more than 100 companies. To register to attend the Warranty Chain Management conference, visit http://www.algassociates.com/wcm2006/registeropen.html .
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