For manufacturing companies, downtime is expensive. When machines fail, companies lose millions every hour that their plant has stopped. They mitigate this risk by stockpiling all the spare parts that they may need but this method is very wasteful. 30% of all parts inventory (value >$1 Tn) is obsolete. machIQ offers a less expensive on-demand buying model to achieve the same outcome. Customers can also identify & reduce their obsolete inventory and sell them to buyers on our P2P marketplace.
Industry 4.0-ready Software as a Service (SaaS) for Equipment Performance Management, advanced spare parts inventory and MRO purchasing.
2016 Diamond Entrant