Opportunity

SKF is a world leader in bearings and related technologies. SKF is active in various industries, from aerospace to food and beverage, including the agricultural machinery sector, where SKF provides products and services. For the agricultural spare parts market, SKF offers an agri-specialized distributor program in the farming spare part market to help distributors grow their bearing business. Now, SKF is looking for solutions to help manage and optimize the availability of SKF products to Agricultural Distributors.

Opportunity overview

Agricultural distributors partnering with SKF can provide their customers (Agri dealers and farmers who repair agri machines) with the spare parts (including SKF products) and equipment they need when needed, even during intense farming periods. We know the high availability of machinery and surplus parts for maintenance ensures increased productivity and solid sales growth. Still, due to the highly seasonal nature of agriculture and the complexities related to predicting demand spikes, this can be easier said than done. The challenge to successfully ramp up business is enhanced, mainly when production time and lag are high. For distributors to succeed in the aftermarket, they need to be able to buy from SKF, deliver, and fulfill the demand of their customers for agricultural equipment, even on short notice.

By analyzing the market data, customers, and existing sales of a few thousand products, the demand could be estimated more accurately to optimize the availability of SKF stock. This would benefit the agricultural distributors that sell the spare parts for machinery maintenance, and the inventory levels would not need to be excessive to account for the availability problem, which, in turn, is cash-consuming. SKF sees the partnership with agricultural distributors as a business of increasing focus, and we are now looking for innovative data-driven solutions to indicate demand-chain management and logistics.

Your opportunity with SKF

SKF is the world’s largest manufacturer of bearings and related technologies, with 17,000 distributors in 130 countries. As a leader in our field, we can offer outstanding potential for scaling your company’s solution in the global market. We are looking for innovative solution providers who can help us effectivize our inventory logistics to improve the offerings for agricultural distributors. The selected solution provider will get technical and financial support in the short term to develop concept prototypes for further evaluation. We want to work together and share our industry knowledge to provide you with valuable learnings, enabling your company to find additional opportunities within the industry.

Examples we're looking for

AUTOMATED ALGORITHM TO CONTINUOUSLY ANALYZE HISTORICAL DATA AND CUSTOMER FORECAST INPUTS

An algorithm built to gain insights from historical sales data and market movements could be a key to continuously updating demand to replenish the stock enough to meet demand but not overstock. This could be done weekly or monthly, depending on the speed of growth/ramp-up of a specific range of products. A reduced level of human interaction would also increase the scalability and efficiency of the system.

SKF is a world-leading provider of innovative solutions that help industries become more competitive and sustainable. By making products lighter, more efficient, longer lasting, and repairable, they help their customers improve rotating equipment performance and reduce environmental impact. SKF's offering around the rotating shaft includes bearings, seals, lubrication management, condition monitoring, and services. Founded in 1907, SKF is represented in approximately 129 countries and has around 17,000 distributor locations worldwide.
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