Objectives
BizAnalytica (now part of the Mastek Group LLC) was involved to Develop data-driven logistics model to optimally manage spare parts inventory for fighter-jets at distributed locations.
Minimize cost of inventory while maximizing maintenance efficiency.
Predict failure rates.
Extend the model to other strategic units such as land vehicles.
The Challenges
- Efficient maintenance of fighter-jets at distributed locations.
- Manage spare parts inventory within budget, space, and time constraints.
- Forecast parts failures.
Why Mastek
- Expertise in developing mathematical models for probabilistic events.
- Ability to develop and deliver complete solution to business users.
- Timely delivery.
Benefits
- Developed probabilistic models for spare parts by category and implemented predictive solution for demand forecasting
- This allowed the Logistics business unit to manage inventory and budget with confidence across distributed bases
- Improved maintenance efficiency by over 30% (~ $2M per year in cost savings)
