Shark Tank-Inspired Manifesto for Manufacturing CEOs and CFOs -- "Show me the money!"
08 Aprile 2014 - 5:04PM
Marketwired
Shark Tank-Inspired Manifesto for Manufacturing CEOs and CFOs --
"Show me the money!"
ORLANDO, FL--(Marketwired - Apr 8, 2014) - MC2 2014 MTConnect:
Connecting Manufacturing Conference - David McPhail and Dave
Edstrom are on a network connectivity mission on behalf of
manufacturing CEOs and CFOs. Their company, Memex Automation Inc.
(TSX-VENTURE: OEE), is an award-winning global leader of Machine to
Machine (M2M) manufacturing productivity solutions, but they're not
content to transform machine-level productivity. At a talk they're
giving tomorrow at the MC2 2014 MTConnect:
Connecting Manufacturing Conference, the executives are laying
out their vision to tie income statements real-time to what is
happening on the shop floor -- something they call "Financial
OEE."
"Overall Equipment Effectiveness, or OEE, is the measurement of
plant-wide capacity utilization, and it's generally accepted today
as the most important manufacturing metric. However, using the
open, royalty-free MTConnect standard, manufacturing companies can
generate OEE in real-time, enterprise-wide, machine by machine,"
said McPhail, Memex Automation's CEO. "As useful as that is for
shop-floor management engineers and continuous improvement
coordinators, we're now saying that's not good enough.
Manufacturing CEOs and CFOs deserve more. To use an analogy
inspired by the popular business TV show Shark Tank, they have a
right to stand up and say 'Show me the money!'"
"CEOs and CFOs in every manufacturing company can and should
demand industry solutions that go beyond shop-floor monitoring
systems to drive real-time updates to their income statements,"
emphasized McPhail. "The holy grail of manufacturing excellence
comes from understanding how manufacturers can move from an OEE
utilization dashboard to solutions that produce real-time costing
and financial data so they can understand at any given second what
their plants are producing in dollars and cents versus percentage
efficiency metrics."
McPhail is teaming up with Dave Edstrom, Memex Automation's CTO,
to deliver this productivity manifesto on Financial OEE. Edstrom
was formerly President and Chairman of the Board of the MTConnect
Institute, where he was instrumental in the creation of the
MTConnect standard.
In October 2006, while working at Sun Microsystems, Edstrom and
Dr. David Patterson of the University of California at Berkeley
(UCB), laid out the MTConnect vision at AMT -- The Association for
Manufacturing Technology's Annual Meeting. Edstrom is also the
author of the book "MTConnect: To Measure Is To Know" as well as a
prolific writer of white papers, technical and business
articles.
McPhail and Edstrom's April 9th talk is titled "MTConnecting
Your Income Statement" and will be given from 1:30 to 2PM at the
Exhibit Hall of the Caribe Royale Orlando in Orlando, FL. Both
executives will be available for interviews before and after that
time.
About Memex Automation Inc.
Memex Automation (TSX-VENTURE: OEE) is the global leader of
Machine to Machine (M2M) manufacturing productivity solutions and
the measurement of Overall Equipment Effectiveness in real-time
("OEE"). In 2013, Frost & Sullivan recognized Memex's flagship
product MERLIN (Manufacturing Enterprise Real-time Lean Information
Network) with its Technology Innovation Leadership Award, and
Microsoft picked MERLIN to be its mid-market ERP machine
connectivity solution. Mazak, North America's largest original
equipment manufacturer of machine tools purchased MERLIN to manage
its Florence, KY, plant and offers MERLIN on its price list. For
more information, please visit: www.memex.ca.
Neither the TSX Venture Exchange nor its Regulation services
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Memex Automation Inc. David McPhail CEO Phone:
905-635-1536 Email: Email Contact market2world communications inc.
Jill McCubbin Communications Architect Phone: 613-256-3939 Email:
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