METHOD AND SYSTEM TO FORECAST REPAIR COST FOR ASSETS

• US 20140089054A1
• Filed: 09/19/2013
• Published: 03/27/2014
• Est. Priority Date: 09/24/2012
• Status: Abandoned Application

• Current Assignee: General Electric Company
• Original Assignee: General Electric Company
• Inventors: Knapp, Mark Edward, Bell, David, Wojciechowski, Robert, O'Leary, Michael
• Application Number:
  US14/031,219
• Publication Number:
  US 20140089054A1
• Time in Patent Office: Days
• US Class Current: 705/7.35
• CPC Class Codes: G06Q 10/06 Resources, workflows, human or project management; Enterprise or organisation planning; Enterprise or organisation modelling
• CPC Class Codes: G06Q 10/20 Administration of product repair or maintenance
• CPC Class Codes: G06Q 30/0206 Price or cost determination based on market factors
• CPC Class Codes: G08B 21/18 Status alarms G08B21/02 takes precedence

Abstract

Systems and methods of the invention relate to forecasting a projected cost for at least repair associated with one or more assets. Based on evaluation of a portion of historic repair data for the one or more assets, a forecast component can create a projected cost to perform a repair. A cost component can aggregate or receive a portion of historic data related to repair costs previously performed. The cost component can further ascertain a repair cost per duration of time for an asset. Based on at least one of the portion of historic data or the repair cost per duration of time, the forecast component can indicate a projected cost for at least one repair for one or more assets.

Claims

1. A method, comprising:

evaluating, with at least one component, a portion of historic data related to costs for repairing one or more assets;

identifying, with the at least one component, at least one repair to perform on the one or more assets; and

forecasting, with the at least one component, a projected cost to perform the at least one repair on the one or more assets based at least in part upon the portion of the historic data that is evaluated.

2. The method of claim 1, further comprising aggregating a real-time quote from at least one repair facility to perform the at least one repair on the one or more assets.

3. The method of claim 2, wherein the quote includes a cost for at least one part related to the at least one repair and a cost for a labor fee related to the at least one repair.

4. The method of claim 1, further comprising:

evaluating the portion of the historic data to ascertain a cost fluctuation over a time period;

wherein the projected cost is forecasted based at least in part on the cost fluctuation over the time period.

5. The method of claim 1, further comprising receiving the portion of the historic data from a Maintenance Management System database.

6. The method of claim 1, further comprising receiving the portion of the historic data from a Car Repair Billing database.

7. The method of claim 1, wherein the portion of the historic data comprises at least one invoice for repairing the one or more assets.

8. The method of claim 1, further comprising:

calculating a transportation cost for delivery of the one or more assets to a repair facility; and

including the transportation cost with the projected cost, wherein the transportation cost for the repair facility is associated with a quote from the repair facility.

9. The method of claim 1, further comprising:

evaluating an inventory of one or more parts for the one or more assets; and

managing a quantity of the one or more parts of the inventory based on the evaluation of the inventory and the identification of the at least one repair to perform.

10. The method of claim 9, further comprising communicating a purchase order for one or more parts associated with the identification of the at least one repair to perform based upon the evaluation of the inventory.

11. The method of claim 10, further comprising communicating the purchase order to at least one of a repair facility or a seller based on an offering of a quantity-based discount for the one or more parts.

12. The method of claim 9, further comprising ordering at least one of the one or more parts associated with the identification of the at least one repair to perform based on the evaluation of the inventory.

13. The method of claim 1, further comprising:

identifying a frequency of repairing the one or more assets based on the portion of historic data;

wherein the projected cost is forecasted based on the frequency for a duration of time.

14. The method of claim 1, further comprising ascertaining whether to perform a part repair or a part replacement for the at least one repair based on the projected cost.

15. A system comprising:

a first component configured to evaluate a portion of historic data related to costs for repairing one or more assets; and

a second component configured to forecast a projected cost to perform at least one repair on the one or more assets based at least in part upon the historic data that is evaluated.

16. The system of claim 15, wherein the historic data relates to costs for repairing the one or more assets for a period of time, and wherein the second component is configured to forecast the projected cost based at least in part upon the historic data that relates to the costs for repairing the one or more assets for the period of time.

17. The system of claim 15, further comprising a third component configured to adjust the projected cost for the at least one repair to be performed based on a quote from a repair facility to complete the at least one repair to be performed, wherein the quote includes a cost for at least one part related to the at least one repair to be performed and a cost for a labor fee related to the at least one repair to be performed.

18. The system of claim 15, further comprising a fourth component configured to manage an inventory of one or more parts utilized to perform the at least one repair on the one or more assets.

19. The system of claim 18, wherein the fourth component is further configured to order the one or more parts from at least one of a repair facility, a vendor, a merchant, or a manufacturer.

20. The system of claim 19, further comprising:

a fifth component configured to identify a quantity of one of the one or more parts which yields a discount from said at least one of the repair facility, the vendor, the merchant, or the manufacturer; and

the fourth component is configured to order the quantity from said at least one of the repair facility, the vendor, the merchant, or the manufacturer based on the discount.