26 Feb The First Step in Transforming a Factory Into a Smart Factory
Alpha Through Operational Cost Savings
Our guest, Tim Raven, is Managing Director and leads Worximity’s US practice. He is an operations, finance, and digital manufacturing expert with over 25 years of experience working with privately held and sponsor-owned mid-market consumer and industrial product manufacturers.
In this episode Tim and Bruce discuss:
- The first phase of transforming a factory into a smart factory: applying a sensor overlay network to pull data off brownfield machines and equipment.
- How to quantify the value created by relating the KPI of OEE (overall equipment effectiveness) to EBITDA, along with it’s associated costs to come up with the ROTI (return on technology investment) – core to the digital investment thesis.
- A smart food packaging plant case study to tie it all together.
Mentioned in this Episode and Other Useful Links
- Worximity website
- Worximity whitepaper: Unlocking Value Through Digital Manufacturing
- Season 1: Related smart manufacturing episodes
- Season 1 book: IoT Inc
- Season 2: Episodes and show notes
- Season 2 book: The Private Equity Digital Operating Partner
- Training: Digital transformation certification
