Pyramis Technology Group: Reimagining Product Lifecycle Management for OEMs and Contract Manufacturers

Josh Beasley and Marc Schroder, two entrepreneurs, one with expertise in insurance and the other specialized in Logistics and Supply Chain Solutions, realized that the supply chain industry lacked a capable partner that could aid in the product lifecycle management through manufacturing, distribution, product management in the field, repair services and reverse logistics. This realization resulted in the inception of Pyramis Technology Group, a one-stop-shop for OEMs to help them leverage the true specialism of vendors in each area of the supply chain from a single place, delivering a best-in-class circular economy ecosystem. The company has developed its namesake platform which allows the customers to choose different vendors for specific processes such as product distribution, warranty management, product repair, end of life trading, and more. To achieve this feat, the board members of Pyramis have leveraged their expertise and contacts in the field and forged partnerships with over 40 strategic partners including leading leasing banks, insurance providers, 3PLs, asset financing specialists, and more. This network that encompasses the entire supply chain lifecycle coupled with a robust system and infrastructure has enabled Pyramis to establish themselves strongly in this space. “Our platform is an aggregation point for OEMs, which is built around robust technology to help them in product lifecycle management through our strategic partnership network,” says Beasley, CEO at Pyramis Technology Group.

Pyramis ensures that their customers gain the competitive-edge of having five vendors without having to deal with the complexities that come with it. "We have pitched our platform to many OEMs and insurance providers and managed to get a lot of traction,” states Beasley. Moreover, by providing specialization in every area of the supply chain, the platform enables its customers to cut down their procurement division by up to 80 percent. "Customers have been able to get the desired specialism at each level of the supply chain while also having the ability to do cost consolidation," adds Beasley.

One of the unique propositions of Pyramis is the product warranty and product protection since its managing partners have years of working experience with the world-leading underwriters and policy administrators. The company offers services for EMS providers and OEMs to manage warranty and advanced product lifecycle care straight from the production line. “We address customer’s risk while delivering a better end-user experience,” says Beasley. The platform then enables the customers to have a full-fledged supply chain to ensure proper management in case of faulty products that were delivered to end-users. OEMs can recover product failures in 120 countries worldwide through the different vendors plugged into the company’s platform.

Besides, the warranty management provided by Pyramis is especially designed for the high-tech industry. The platform’s in-built functions such as maintenance modules notify users about product failures even before the products breaks down. This reduces the downtime for the customer, the insurance provider has fewer calls to address the problem, and then the product can be repaired without a replacement in a faster way.

In an instance, a multi-product consumer electronics manufacturer with clients all over the world was facing issues with product repair. In the case of faulty products, the only solution for the manufacturer was to replace the products with new ones, which proved to be costly for the manufacturer. Besides, their clients consolidated the defective products in one shipment that would be sent back to China for repair.