In a bid to enhance its global airline operations and maximize the efficiency of its air fleet, logistics giant FedEx is expanding its utilization of Mojix’s cutting-edge inventory tracking platform. This strategic move is poised to help FedEx reduce aircraft downtime and costs, ensuring that its valuable assets spend more time delivering goods.
Revolutionizing Aircraft Maintenance with Mojix
FedEx’s ambitious plan to integrate the Mojix platform into its operations extends beyond the borders of the United States. The Mojix platform, which utilizes Radio-Frequency Identification (RFID) technology, plays a pivotal role in managing FedEx’s extensive inventory of approximately 8 million aircraft parts worldwide.
The significance of this technology lies in its ability to provide item-level visibility. It allows FedEx to swiftly pinpoint the location of crucial components and expedite their delivery to a facility whenever one of its airplanes requires maintenance or repair. According to Minford, a FedEx spokesperson, there are situations where the company has just 15 minutes to retrieve a specific part and deliver it to a mechanic on the runway. In such scenarios, the efficiency and reliability offered by the Mojix platform are indispensable.
Keeping Planes in the Sky
The overarching goal of this initiative is to reduce aircraft downtime, enabling FedEx to make the most of its costly assets. By minimizing the time aircraft spend on the ground for repairs, FedEx can increase the time these planes are in the air, transporting cargo and generating revenue.
Chris Cassidy, CEO of Mojix, emphasizes the central role of keeping airplanes operational: “It’s all about keeping the airplane up in the air, back and forth, moving cargo.” The Mojix platform, with its RFID technology, is the linchpin in achieving this goal.
How Mojix’s Platform Works
The Mojix platform operates by generating an RFID tag for each aircraft part introduced into FedEx’s supply chain. This tag contains vital data related to the part and is transmitted to the Mojix platform. The platform continuously updates the item’s location and its stage in the processing cycle. It also issues alerts for improperly stocked or overdue parts, ensuring that the right components are delivered within the stipulated timeframe.
Cassidy explains, “We’re physically counting the known devices that they’re actually putting labels on to then track with the RFID and serialization.”
Cost Savings and Efficiency Gains
FedEx’s adoption of RFID technology for tighter inventory control has yielded substantial cost savings. Since December 2018, when the company began tracking RFID-related cost savings, FedEx has managed to save over $7.5 million in identified inventory. This impressive figure underscores the financial benefits of employing innovative inventory tracking solutions.
As FedEx continues to expand the use of Mojix’s inventory tracking platform, it not only stands to reap financial rewards but also positions itself as an industry leader committed to ensuring that its aircraft remain operational, delivering goods across the globe. The strategic partnership between FedEx and Mojix exemplifies the ongoing quest for efficiency and innovation in the world of logistics and aviation.
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