The objective of the tool is to uncover hidden production capacity, providing industrial leaders with information for smarter and more assertive decision-making, reducing inefficiencies in the production process.
Our software’s main goal is to track all the potential in industries that is not being reached or even unknown by leaders. Therefore, companies can increase production and grow without the need for new investments in the industrial plant.
It works as follows: based on IoT (Internet of Things) and Artificial Intelligence, the technology is installed on machines. From there, data is collected, such as equipment status, lost operational time, production lot delivery accuracy, pace tracking, setup and maintenance times. Then, the data is contextualized and transformed into information so that managers, directors, and executives can visualize the results. After all the survey, leaders can identify the potential of hidden capacity in the equipment, make strategic decisions, identify productivity trends in the factory, generate insights, and respond much faster to changes in the sales and production plan.
“In practice, technology helps companies that disregard or are unaware of the real losses that exist before, during, and after production, precisely because they do not have an effective system capable of recognizing where to extract greater potential from the processes,” explains mechanical engineer Reginaldo Ribeiro, CEO of COGTIVE.
A recent McKinsey Global Institute (MGI) study shows that, worldwide, there is a possibility to accelerate factory growth by at least one percentage point by 2024. Therefore, for Reginaldo, technology can provide not only financial gains but also advantages in terms of time and resources, by avoiding expenditures.
“With this software, we demystify the ‘hidden production capacity,’ by identifying, with the help of technology, the unexplored capacities of various manufacturing segments. The best part is that, by detecting what is wrong and what can be optimized, our platform automatically provides information on the amount of additional production that can be explored without capital investment,” he explains, emphasizing that with the software, it is possible to achieve an improved level of productivity, 24 hours a day, manufacturing products that meet the most stringent quality standards, without downtime or waste.
“By using the software for just 15 days, one of the leaders in the pharmaceutical industry realized that they could save $300,000 per year,” exemplifies the CEO.
The idea was so successful that we are among the companies selected by the highly competitive StartOut program, a program for the internationalization of Brazilian startups in the most auspicious innovation ecosystem in the world. Among more than 240 projects evaluated, we have already passed two stages where one of the main scoring criteria was the fit with the international market, and now we are going to Chicago in person to connect with potential customers and investors in the region, considered the “birthplace” of some unicorns.
Overall, thanks to the software, it has already been possible to generate savings of around $180 million for the companies that acquired the service.
