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Case Study 5
Case in Point #5: A Major Casting Company Achieves a 41% Reduction in
Product Scrap Rate
A casting company on the Dow Jones Industrial Average was troubled by a high
scrap rate resulting from blemishes on its product. Reducing this rate would
result in a significant cost savings.
How PredictionProbe Solutions Helped
Probabilistic Methods helped the company identify the source of the problem,
and they were able to reduce the scrap rate from 42% to less than 1% - a
dramatic improvement.
Result
Based on their production schedules, this improvement yielded a savings of $15
Million per year.
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