Commodities Cost Analysis Database for Equipment Maintenance
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Solution Overview
Problem
Current methods for identifying and managing cost driver parts in equipment maintenance are manual, time-consuming, and prone to inaccuracies, failing to provide comprehensive cost analysis across the equipment's life cycle, including future cost projections.
Innovation Solution
A computer-implemented method using data mining techniques to filter relevant part data from multiple sources, creating a commodities cost analysis database that displays past, present, and future cost trends for cost driver subparts, enabling users to make informed decisions on maintenance, repair, and replacement.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If manual methods are used to identify and analyze cost driver parts, then users can obtain cost information, but the process is time-consuming and difficult
Solution Approach 1:
The patent replaces manual mechanical search and analysis methods with automated computer-based data mining techniques. The system automatically queries multiple data sources, retrieves part cost data, and performs analysis without manual intervention, thereby reducing time loss while maintaining or improving measurement precision through systematic data processing.
Solution Approach 2:
The system enables self-service by automatically performing data retrieval, filtering, and analysis functions that previously required manual user effort. The computer system autonomously identifies cost driver parts by querying data sources and processing information, allowing users to obtain results without manually sorting through voluminous part information.
2Loss of information
If manual search through part history data is performed, then cost data can be located, but the process is arduous and incomplete information may be obtained
Solution Approach 1:
The patent implements a universal system that can query multiple different data sources simultaneously through a single interface. The computer system is designed to access various part history databases, maintenance records, and cost databases, consolidating information from multiple sources into one comprehensive analysis, thereby improving both completeness of information and ease of operation.
Solution Approach 2:
The patent introduces a computer-based intermediary system that mediates between the user and multiple data sources. This intermediary automatically queries, retrieves, and processes information from various databases, presenting consolidated results to the user without requiring manual navigation through multiple sources, thus improving ease of operation while ensuring complete information retrieval.
3Reliability
If current manual processes are used, then past and current cost data can be obtained, but future cost projections are not provided
Solution Approach 1:
The patent applies preliminary action by using historical cost data to predict future costs before they occur. The system analyzes past and current maintenance and repair cost patterns to generate projections of future costs, enabling users to plan and make decisions based on anticipated expenses. This extends the scope of cost analysis from merely historical to include future predictions, while maintaining reliability through systematic data analysis.
4Measurement precision
If comprehensive part cost data from multiple sources is analyzed, then accurate cost driver identification is possible, but the data volume is voluminous and difficult to process
Solution Approach 1:
The patent applies extraction by automatically retrieving only the relevant cost data needed for analysis from voluminous data sources. The computer system queries multiple databases and extracts specific part cost information, maintenance records, and repair data required for identifying cost driver parts, filtering out unnecessary information and presenting only the essential data needed for accurate identification.
Solution Approach 2:
The patent creates a simplified digital representation or copy of the complex data from multiple sources. The computer system consolidates information from various databases into a structured format that is easier to process and analyze, maintaining the essential cost data while reducing the apparent complexity through systematic organization and presentation.
Data Source
AI summary
A computer implemented method and computer program product for managing commodity data. In one or more embodiments, a commodity type and parts corresponding to the commodity are identified. A part cost analysis is generated for each part based on part history data. The part history data is obtained from a set of data sources using data mining techniques to filter relevant part data from a plurality of part data. Cost-related failure data is created using the part cost data and the keyed hierarchical breakdown coding sequence. The cost-related failure data is displayed in a commodity database based on the keyed hierarchical breakdown coding sequence. A user can obtain information regarding future cost trends for the commodity and corresponding parts based on a demand for the commodity and a demand for the parts.