Webinar: How New IoT-Based Models Could Reduce
Service Parts Inventory

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Presented by: Dan Gettens, Chief Analytics Officer, OnProcess Technology and Dr. Chris Caplice, Executive Director of MIT CTL

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Recorded on Wednesday, February 22, 2017

Over-stocking and under-stocking spare parts have become the norm, especially for companies who do review-and-stock inventory planning. Because this traditional planning approach doesn’t account for variabilities from product failures, it’s even more challenging  plan spare parts inventory and service demand. But it no longer has to be this way.

In this complimentary webinar, OnProcess and MIT will reveal how to transition from static to much more reliable and cost-effective dynamic spare parts inventory planning. Based on their new research about the impact of IoT data on machine failure predictability and inventory planning, they will explain how companies could reduce inventory while improving service levels and minimizing the amount of new product purchases needed to replenish inventory.

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Dan Gettens  

Chief Analytics Officer, OnProcess Technology

Dan Gettens heads OnProcess’ customer market research, which provides OnProcess clients with deep visibility and actionable insights into the customer experience. He also leads the definition, development and delivery of the OnProcess analytics platform that underlies our managed services offerings, including predictive analytics, in-depth Voice of the Customer analytics and initiatives to apply Lean Six Sigma methodologies in developing these methodologies. Prior to OnProcess, Dan was Vice President of Global Business for Corporate Software and Director of Global Accounts for Digital and Compaq. Dan is Lean Six Sigma Master Black Belt Certified, received a Bachelor’s degree from Middlebury College, and Masters from Yale University and Rensselaer Polytechnic Institute. Dan also served on the Advisory Board of the Pricing

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Dr. Chris Caplice    

Executive Director of MIT Center for Transportation and Logistics

Dr. Caplice serves as the Executive Director of the MIT Center for Transportation & Logistics (CTL) where he is responsible for the planning and management of the research, education, and corporate outreach programs for the center. He created and leads the MITx MicroMaster’s Program in Supply Chain Management – the first online credential offered at MIT.  He is also the founder of the MIT FreightLab – a research initiative that focuses on improving the way freight transportation is designed, procured, and managed. Outside of MIT, Dr. Caplice is the Chief Scientist for Chainalytics.  In this role, he pioneered the development of the Chainalytics Freight Market Intelligence Consortium (FMIC).  He received a Ph.D. from MIT in 1996 in Transportation and Logistics Systems, a MSCE from the University of Texas at Austin, and a BSCE from the Virginia Military Institute.  Twice the Council of Supply Chain Management Professionals has formally recognized him: the Doctoral Dissertation Award in 1996 and the Distinguished Service Award in 2016.  Chris was named the Silver Family Research Fellow in 2016.