ePlane: Applying Predictive Analytics to Make Smart Aviation Marketplace Decisions
Leveraging the potential of predictive analytics, ePlane is leading a revolutionary transformation in aviation part procurement, empowering users to act more swiftly and intelligently. This metamorphosis is powered by statistical algorithms and machine learning that account for 30+ outside data sources, combined with individual performance tracking. In turn, ePlane proactively anticipates future demand trends by analyzing both historical and current data, shedding light on users’ untapped opportunities.
These invaluable revelations are not only presented through crisp and informative visuals but are also made accessible through the innovative approach of “conversational analytics,” seamlessly powered by artificial intelligence.
This AI-powered evolution enables both buyers and sellers to transition from conventional “Descriptive” analytics (which simply delves into past events) to predictive and prescriptive analytics. Here, the focus shifts to answering pivotal questions such as “What will happen?” and “What actions should we take?”
Within aviation part procurement, predictive analytics empowers organizations to:
- Adopt data-driven decision-making
- Mitigate risks
- Seize opportunities in real-time
- Anticipate shifts in the parts marketplace
- Anticipate shifts in their own inventory requirements
How ePlane Predictive Analytics Transforms Inventory Management Operations
ePlane is not just your typical aviation marketplace; it’s a platform that supports users with AI-fueled insights to make smarter decisions regarding their inventory. Real-time data fed directly into the parts marketplace propels your team to maximize both efficiency and transactional outcomes, including:
Demand-Driven Inventory Management: ePlane enables you to respond quickly to shifts in demand with near real-time insights, ensuring you avoid overstocking or understocking inventory. By considering factors like seasonality, pricing, and regional dynamics, you can optimize your inventory continually to reflect market conditions.
Increased Demand and Market Rate Forecasting Accuracy: Utilizing ePlane’s AI Insights, you can scrutinize crucial demand drivers with precise, current data. The platform illuminates both present and future trends, drawing insights from a blend of internal and external data sources. This functionality empowers buyers to strategically time their part acquisitions, while also assisting sellers in pinpointing the opportune moments to showcase their inventory for maximum potential profit.
Connecting Supply Planning with Demand: Balancing supply plans with demand forecasts is crucial for avoiding stockouts and meeting service and financial objectives. ePlane’s AI Insights facilitates this by analyzing inventory alongside production and supplier capacity, location, and channel, and even helps you plan for potential constraints and demand volatility with “What if” scenarios.
Executive Insights: The platform offers dashboards that provide C-level decision-makers with a comprehensive view of supply chain performance. This visibility elevates previously hidden trends and priorities, enabling strategic decision-making that optimizes the balance between availability, quality, and cost to drive profitable growth.
Lean Warehousing and Distribution: Efficient warehousing and distribution are critical to cost reduction. ePlane’s AI Insights optimizes storage and movement by providing visibility across the entire supply and demand cycle, helping you achieve high inventory turns and minimize out-of-stock situations.
Complex Data Made Accessible Through Conversational Analytics
Data without insight brings no value, and yet combing through spreadsheets can be both daunting and time-consuming. ePlane’s dashboard parses raw data to extract important takeaways with easy-to-digest so your team and leadership can easily make informed strategic decisions.
However, we take data accessibility one step further with our groundbreaking Conversational Analytics. Use our Chat feature to ask questions based on your own performance data, and ePlane will evaluate your own KPIs (combined with industry-wide market insights) to respond with clear, actionable insights.
Leveraging Data to Inform Automation of Procurement Functions From a Singular Platform
ePlane’s transformative approach extends beyond insightful analytics, merging seamlessly with the parts marketplace to revolutionize procurement processes. By intertwining data directly with the marketplace, ePlane facilitates the automation of key functions, such as the streamlined generation of Requests for Quotations (RFQs). This integration empowers users to harness the power of predictive analytics not just for analysis but to proactively initiate and manage procurement activities, fostering unparalleled efficiency and responsiveness within the aviation industry’s supply chain.
ePlane Strategic Integrations for Comprehensive Solutions
ePlane vs. SkyWise and Aviatar: Clear Distinctions That Supplement One Another
Airlines should not be deciding between ePlane and maintenance data aggregators such as SkyWise and Aviatar; instead, they should consider how these two types can integrate to provide a comprehensive solution that addresses both inventory demands and marketplace forecasts. After all, when Skywise and similar tools connect with ePlane’s Autopilot, users can automate RFQ processes and other procurement functions.
SkyWise and Aviatar primarily focus on providing analytical data related to the performance of aircraft. While they offer valuable insights for airlines, they are mainly designed to help operators anticipate and predict part failures based on aggregated data.
However, unlike ePlane, SkyWise and Aviatar do not provide insights into the global market or forecast future supply-and-demand dynamics. These tools do not answer seller questions like, “Will I be able to ask for a higher rate in three months’ time?” or “Are airplanes that use this particular part dwindling in usage, meaning I should offload related parts as soon as possible?”
Similarly, parts managers can use platforms like SkyWise and Aviatar to anticipate the need to replace their fleet’s brakes in the near future, but ePlane is the tool that will calculate whether prices are likely to be higher or lower a few weeks out.
Above all else, ePlane differentiates itself from SkyWise and Aviatar in its ability to connect directly to a robust aerospace marketplace, enabling users to automate key procurement or vending activities in response to shifts in inventory or the greater industry.
In essence, while SkyWise and Aviatar provide valuable (albeit sometimes expensive) data, their synergy with ePlane forms the perfect union that helps you assess and respond to your own fluid inventory needs, such as the the automation of RFQs. The result of such tactical integrations with ePlane Autopilot is a holistic solution designed specifically for aviation.
Additional Tool Integrations for Consolidated Data Management & AI-Driven Analysis
SAP Integration for Enhanced Connectivity
ePlane serves as a seamless bridge, bringing together data from both internal systems and external sources to sync and analyze within a unified platform. Its rapid connection with ERP systems facilitates swift tasks such as inventory uploads, requests for quotes (RFQs), and the collection of price quotes. Specifically designed for SAP users, ePlane provides an out-of-the-box connectivity solution through ePlane Hybrid Cloud. This integration allows SAP users to access advanced analytics without incurring additional setup and support costs, presenting a cost-effective and efficient method to leverage the benefits of AI-driven insights.
Additional ready-to-go ePlane integrations include:
- Amazon S3
- Azure storage
- Azure SQL Database
- Google Cloud storage
- Google Drive
- Office 365 Sharepoint
- Microsoft SQL server
- MySQL Enterprise edition
- SAP BW
- SAP Hana
- SAP SQL
Ready to Join Galvanize Growth With ePlane?
ePlane’s AI Insights is the key to unlocking your aviation inventory’s full potential. By incorporating predictive analytics into their platform, ePlane has set a new standard for inventory management in the aviation industry. With real-time insights and predictive modeling, aviation professionals can make data-driven decisions, streamline their supply chain, optimize inventory, and ultimately boost profitability.