Meanwhile, expenditures on labor and parts for the same radar receiver repaired through BCMI would be less than $18,000, a 92.5-percent savings, he said.
BCMI had its best performance yet in 2017, closing out the fiscal year with an unprecedented cost avoidance of more than $200 million, bringing the program's 11-year total to the initial BRAC goal of $1.2 billion.
In addition to saving time and money, BCMI has also produced another benefit--the opportunity for technicians and artisans to share their knowledge and skillsets.
The variable fixpay is equal to the monthly loan payment (pay) divided by the borrower's combined monthly income (bcmi) plus the median monthly homeowner cost (mmoc) divided by the median household income (mhi), and whether the borrower is a homeowner (home = 1).
Nonracial borrower characteristics such as bage, bcmi, home, cosign, and the occupation variables sl, ul, prof, and cler may be important explanatory variables.
The traditional credit scoring variables are apr, amt, pay, term, dp, fixpay, deal, bage, bcmi, home, cosign, ul, sl, prof, cage, new, st1, st2, and st3.
"Our work with BCMI empowers today's mobile worker," said Glenn Bramer, director of marketing for Trimble Construction Logistics.
"Coupling Trimble's expertise in collecting real-time data for improved productivity with our movement to modernize the tools and processes for ready mix operations, we have enabled the entire concrete production chain, both human and machine, to interact with actionable, real-time information," said Bernie Benson, co-founder of BCMI.
To further improve customer interactions and its own operations, Smith Ready Mix is currently rolling out an integrated dispatch system from BCMI that stores data in a secure cloud server (note sidebar, page 52).
Those three features are largely missing in many legacy systems, says Craig Yeack, president and co-founder of BCMI, a software development company serving the construction materials industry.