The Wind Energy Supply Chain is Using Data Analytics to Increase Aftermarket Part Sales
Wind energy supply chain companies can take advantage of data analytics to predict the future global installed base for any make & model of wind turbine as well as identify where they will have sales opportunities for their aftermarket parts or services. Proactive companies are already using this methodology to enhance their aftermarket part sales or offer services and upgrades to asset owners who are seeking to enhance their performance or improve their asset life.
This process involves leveraging SCADA and condition monitoring system data along with analysis techniques which identify the remaining useful life (RUL) of components such as gearboxes, generators, electrical converters and blades. That RUL can be fed into a predictive model which will indicate the potential sales volumes for aftermarket parts or indicate the likely need dates for specific services to be performed.
Component suppliers can use the knowledge of product specifications to determine if they have a product which would be a sufficient replacement, and even benchmark the specifications for competing aftermarket components side-by-side.
Next they can look at global product sales of a single make or model of wind turbine, or even dig deeper to find the likely global sales of a sub-component as well, such as a gearbox, or even the gears, shafts, bearings or lubricating oil. This can be invaluable for helping to narrow down the potential pool of aftermarket sales locations, and provide invaluable information on how to select target markets and customers for aftermarket parts or off-warranty services.
Next, the historical performance data from the SCADA or condition monitoring system can be obtained to help determine the time-frame until a specific sub-component will reach the end of it's service life. This data can be helpful in determining the timing of the sales cycle for the aftermarket parts to the asset owners or operators, as well as factory production schedules for the spares and the necessary lead times for manufacturing or re-manufacturing of the components.
Lastly, supply chain companies need to know the bill of materials (BOM) cost for a particular make and model of turbine or a sub-component. This allows you to build a case to support your sales narrative by demonstrating how your product can achieve superior performance in the remaining lifetime of the asset.
To achieve solid global sales for aftermarket components or services, supply chain companies must proactively pursue a strategy for product positioning using a robust data analytics platform. For years companies lacked the tools and sophistication of analysis to understand these market dynamics. Now, with this new set of data analytics available to them, they can intelligently position themselves to achieve profitable returns on their product and service sales.