GRAND RAPIDS, Mich. and PEORIA, Ill., June 18, 2015 /PRNewswire/ -- To help customers around the world optimize parts performance and further understand the health of their equipment, Caterpillar Inc. (NYSE: CAT) has entered into a strategic alliance with Modustri, a provider of service and measurement technologies for use in the field. Caterpillar and Modustri will work together to develop innovations that enhance Cat® customers' abilities to measure wear on parts like never before. In turn, these technologies will help customers optimize their fleets more effectively.
"Our parts monitoring and management tool has been a leader in the equipment management industry for 75 years, but we're always looking for ways to step up our game," said Doug Hoerr, vice president of the Reman, Components and Work Tools Division of Caterpillar. "Our relationship with Modustri will allow us to take advantage of emerging technology that gives our customers more information on parts and components to maximize uptime. The days of being reactive are over."
By utilizing web-based and mobile platforms, the companies will deliver simplified processes that provide customers accurate, immediate access to useful, real-time data while still in the field. This technology could save customers hundreds of hours and millions of dollars by proactively helping Cat dealers and customers better measure wear rates and manage wear parts replacements -- including those from other suppliers.
"We've seen how mobile technology can change the behaviors of customers; now we can see groundbreaking hardware and software that can help dealers interact with customers, build trust and plan ahead for maintenance and parts replacements," said Brian Steketee, founder and CEO of Modustri, which is based in Grand Rapids, Michigan.
"We are at the forefront of a revolution in the heavy equipment industry," said Greg Folley, vice president of the newly formed Analytics & Innovation Division of Caterpillar. "Emerging technologies are changing the way we can help customers maintain a competitive advantage and achieve new levels of equipment productivity and profitability. Our alliance with Modustri will be key in making this happen."
In the coming months, Caterpillar will collaborate with Modustri and the Cat dealer network to create the latest Cat equipment wear management technologies through web-based and mobile platforms, which will now be available for customer use.
For 90 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. With 2014 sales and revenues of $55.184 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company principally operates through its three product segments - Resource Industries, Construction Industries and Energy & Transportation - and also provides financing and related services through its Financial Products segment. For more information, visit caterpillar.com. To connect with us on social media, visit caterpillar.com/social-media.
Modustri is the inventor and developer of innovative, field technology products for industries with stringent requirements for precision measurements and inspection data. The Michigan-based company's first-to-market, mobile hardware-software suite is an upgrade to previous methods of providing the heavy equipment industry with a streamlined system for measurement and data collection. Modustri's products utilize web-based and mobile platforms to deliver simplified processes, sharp accuracy and immediate access to useful, real-time data while still in the field. For more information, or to schedule a demo, visit modustri.com.