ToolingIQ
Reduce cost, eliminate lengthy tooling-related disruptions, predict tooling end-of-life, and accurately forecast your capital needs.Tooling & Asset Management
Reduce cost, eliminate lengthy tooling-related disruptions, predict tooling end-of-life, and accurately forecast your capital needs. With ToolingIQ from Rhythm, tooling lifecycle management becomes an advantage for your company instead of non-measurable exposure
The Challenge
Is your company dependent on complex tooling assets? If so, where are your tools, what condition are they in, and when will they need to be maintained, replaced, repaired, or duplicated? If you don’t know the answer to just one of these questions, you’re not alone. However, you could be facing expensive line-down scenarios, customer dissatisfaction, and loss of business. You will also miss the chance at saving significant money.
Meet ToolingIQ, the intelligent way to manage your tools
The Tool that puts you in control of your Tools
Increased On-Time Delivery
ToolingIQ increases margins by reducing costs and winning new business with key customers. Predictive tool maintenance and replacement insights mean less downtime, less premium freight to your customers, and improved shipping performance.
Accurate Capital Forecasting
ToolingIQ eliminates the guesswork on capital forecasting that can leave your company with out-of-budget costs that divert investment in critical new programs. Pipeline dashboards of tooling maintenance, repairs, and replacements provide predictable, and accurate capital planning.
Increased Productivity & Savings
ToolingIQ’s predictable tooling replacement and duplication pipelines allow Procurement to begin negotiating with alternate suppliers earlier and gives Engineering the time to design more efficient, faster, and lower cost tooling.
Condition & Location Reporting
A collaborative, two-way portal within ToolingIQ allows your company to seamlessly communicate with its suppliers. Obtain key insights including current tool condition, usage, and physical location status updates.
Repair & Replacement Workflows
ToolingIQ’s interactive platform ensure that suppliers communicate quickly when needs arise. Initiate and respond to supplier requests for tooling repairs, maintenance, and replacements – with budget tracking, approval workflows, and progress monitoring.
Warranty Tracking
ToolingIQ helps you keep track of key timelines on your assets such as amortization schedules and warranty periods with early notifications. Eliminate paying for repairs, downtime, and premium freight costs when tools are still under warranty – reset warranty timing once scheduled repairs are complete. Reduce piece price once amortization schedules are complete.
How ToolingIQ Works
ToolingIQ is your tool and asset repository
Fully configurable to include prints, key attributes, production part numbers, replacement value, current book value, and remaining lifetime.
Analyzing the Past & Predicting the Future
Every tool with a history of maintenance records, condition reports, usage, and remaining lifetime.
Predictive warning alerts
Receive early predictive alerts on repair, maintenance, or replacement needs based on past usage data or blend forecast data for even more accurate predictions
Streamlined maintenance, repair, and replacement progress tracking
ToolingIQ’s workflow functionality helps you and your suppliers stay on top of tools undergoing repairs, maintenance, or replacement to ensure on-time, approved deployment
ToolingIQ: Also For Suppliers
If your company has tools in-house owned by customers, here’s how ToolingIQ helps:
Predict when maintenance, repairs, and replacements will need to occur
Track usage to plan & budget early for maintenance, repair, and replacements. Proactively approach your customers with requests & suggestions.
Grow or maintain margin & revenue with an early warning system for planned maintenance:
Eliminate costly unplanned tool-driven stoppages & line-downs, emergency fixes that drive overtime expenses, and premium freight charges to your customers.
Track accurate tool condition:
Customers frequently request tooling condition status – keep this information current by monitoring usage and logging comments, concerns, and repairs.
Create maintenance records:
Customer-owned tooling often comes with problems – create a history of issues, maintenance, and repairs to provide evidence of faulty tooling.
Audit-ready Reporting
Receive warnings when forecasted demand exceeds tooling capacity based on cycle time and output.
Customers appreciate a supplier who actively manages their business. With ToolingIQ, be the responsive and responsible supplier your customers want.
FAQs
What is Tooling?
Tooling is any type of fabricated product that is then used to make other goods. Examples can be jigs, fixtures, stamping dies, mold tools, die-cast tools, extrusion heads, etc. Essentially, tools can attach to a piece of manufacturing equipment to create a specific product.
Why is Tooling so critical?
Tooling is critical because tt is often custom-made and creates or relates to a specific product. Tooling often has a very long lead-time, cannot be replicated quickly. It is expensive, capitalized, and competes in the budget process with other Capital Equipment items such as machinery. It also requires a high level of technical understanding to design, create, maintain, and repair.
What are the consequences of a disruption caused by Tooling?
Quite simply:
No tool = no production = no delivery = consequences (loss of business, customer satisfaction, cost)
How can ToolingIQ help companies reduce cost?
- ToolingIQ can help predict when tools need maintenance, repair, or replacement. A company can then prepare for an outage by ordering parts ahead of time and stocking while the fix is completed. Or, a replacement tool can be kicked off early enough to avoid disruption.
- With its early warning system on tooling end of life, ToolingIQ allows Procurement professionals to begin the quoting and negotiation process much earlier. Realizing the need for a new tool too late reduces leverage. A buyer must place the replacement tool with the same supplier due to a lack of time to revalidate at a new, possibly more competitive supplier.
- Similarly, a lack of early warning on replacement tools does not allow engineering to design a new, possibly more efficient tool that lowers the cost per unit. If timing is too tight, end customers will often demand that the same tool design is used for replacement tools.
Discover more about Rhythm's ToolingIQ.
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