From “Consumable” to “Asset”: Smart Die Management Cuts Costs by 30%
Implementing RFID tracking and cloud-based life prediction reduced procurement costs by 30% for a mid-sized wire plant.
The Challenge
A mid-sized wire plant treated dies as low-cost consumables, leading to disorganized inventory, lost tools, and expensive emergency rush orders when stock ran out unexpectedly.
Titan Engineering Solution
We helped the client implement a smart die management system using laser-etched QR codes on casings and a cloud-based tracking portal. This allowed them to monitor die life, usage history, and predict replacement needs based on tonnage drawn.
Fig 1. Analysis and Implementation
The Results
Inventory holding costs decreased by 20%, and emergency procurement surcharges were eliminated. Overall annual tooling spend dropped by 30% due to efficient, timed recutting cycles.
Key Takeaways
- Data-driven inventory management prevents stockouts.
- Tracking die life enables predictable maintenance.
- Refurbishment is cheaper than replacement.
Facing a similar issue?
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