"OEE May Not Be Enough" - Why Financial Overall Equipment Effectiveness (FOEE) (TM) Will Be THE Killer Metric For Manufacturing

The first "killer app" I ever saw was VisiCalc.  For those of you too young to remember VisiCalc, it was the world's first "visible calculator" or electronic spreadsheet and it came out in 1979.  I remember demoing it in 1979 and the concept was so different, that it took a little while for people to truly appreciate what was going on, but when they did, they would push me aside and take over the keyboard.  At that point, I would start writing up the order :-)

I believe the MEMEX's MERLIN Financial Overall Equipment Effectiveness™ (FOEE™) will be the killer metric for manufacturing as VisiCalc was the killer app  for the entire business world.

Just as a reminder, it was on Wednesday September 14th, 2016 at IMTS, where MEMEX introduced MERLIN FOEE

Together with Robert C. Hansen, who runs OEE College and is the owner of R.C. Hansen Consulting, we wrote an article in Modern Machine Shop titled "OEE Is Not Enough". 

HUGE thanks to Mark Albert Editor of Modern Machine Shop for stopping by MEMEX's booth at IMTS 2016 so I could show him FOEE, as well as asking for more info on FOEE so it could appear in MMS.

As the article starts off:

"Overall equipment efficiency (OEE) is considered a critical measurement of how well a manufacturing unit is doing. The formula is simple: It multiplies the percentages of availability, performance and quality to yield a single percentage. This result enables similar units (one machine, one department, one plant or an entire enterprise) to be compared or rated against a target such as a plant’s best record or a benchmark of world-class performance. Focusing on OEE enables manufacturers to pinpoint factors that hold back productivity.

Significantly, recent developments in data-driven manufacturing make calculating OEE easier, faster and more accurate—and acting on it more effective. For example, these benefits are an important advantage of connecting machine tools to a network for data collection and monitoring.

However, shops and plants must also focus on profitability. Managers have to balance decisions about maximizing the part-making capability of their equipment with decisions about the money-making potential of this equipment. OEE ratings alone provide an incomplete picture. One development that seeks to address this shortcoming is called Financial OEE (FOEE), a trademarked name for a new feature of MERLIN Tempus Enterprise Edition (EE) from Memex."

We then continue with important areas for FOEE and questions to ask:

MERLIN (Manufacturing Enterprise Real-time Lean Information Network) is a communications platform for real-time manufacturing analytics. Tempus is the company’s suite of applications for machine monitoring such as real-time views of the plant floor, custom dashboards, reporting, alerting and other functions related to data-driven manufacturing. Tempus EE adds OEE, job scheduling and other modules such as FOEE.

Memex has partnered with noted OEE expert and author Robert Hansen to develop this approach. FOEE answers the question, “What is the value of improving OEE on this particular machine for this particular product?” More to the point, it answers “How much profit is being left on the table by not performing at company-best or industry-best levels for that specific part?”  Thus, the FOEE concept shows the power of data-driven manufacturing and the Industrial Internet of Things to transform decision-making not only on the shop floor, but also in the front office."

In the article, we further discuss the mechanics of FOEE.  I highlighted the three key values, as well as the definition of FOEE below.
 

"Tempus EE automatically collects the event details necessary to compute OEE.  The first phase of FOEE applies to stand-alone machines making a finished product. FOEE requires three key financial input values for each product and the machine. These inputs are unit sales price, unit material cost and the hourly operational expense (OPEX) of the machine. This information can be derived from the ERP product standard and the income statement.

FOEE is the current-state hourly profit divided by a value representing a world-class level of profit. This ratio tells a company what profit it made compared to what profit could have been made at world-class levels. With this information, a company can see the financial value of improving the machine’s performance."

 As we state in referencing the above figure:  "In the figure above a product called P0006 is analyzed over 180 days. The product-run OEE data is correlated with the three inputs necessary for FOEE. It also associates important actionable data such as profit contribution per hour and current FOEE based on the machine’s best FOEE percentage, as well as how much more profit would accrue by running the machine at its best OEE rate."

Why is FOEE from MEMEX the killer metric for manufacturing? As we state in the article:


 "With FOEE, managers can look at jobs scheduled for a machine and make decisions based not just on utilization, but also on utilization and profit. This enables managers to compare a list of machines capable of running a certain job, and to determine which machine would yield the highest hourly profit. Just as the OEE figure related to each project or job is a key tool in prioritizing and evaluating continuous improvement projects, FOEE provides a quick view of the profitability opportunity for these projects. FOEE is a tool to make better business decisions for scheduling products, guiding continuous improvement efforts and giving important feedback to sales and marketing teams."

That is why "OEE is Not Enough".... 

For more info on FOEE, please go here at MEMEX.

Machine Monitoring and MEMEX's Financial OEE - Financial Overall Equipment Effectiveness

Mark Albert, Editorial Director of Modern Machine Shop, wrote an article titled: 3 Perspectives on Machine Monitoring in the November 2017 edition of Modern Machine Shop.

Mark is a true thought leader in manufacturing, afirst class individual and a long time friend who I always learn a great deal from whenever we speak.  Thanks Mark for another great article!

This article was based on the Top Shops event  that was held in Indianapolis in September and it was the first ever Top Shops put on by Modern Machine Shop. .   I blogged about the Top Shops event here:

Financial Overall Equipment Effectiveness (FOEE) at Data Driven Manufacturing Panel at Top Shops

The section of the article wrote has a section titled: A Financial Angle on OEE

Below are some of the points Mark brings out in his great article:

"Because OEE is an essential measurement of how well a manufacturing unit is doing, it is one of the most prominent “readings” of machine performance provided by almost all machine-monitoring systems. Mr. Edstrom provided another angle on OEE: financial OEE (FOEE). In fact, Financial OEE is a trademarked name for a feature Memex plans to release in early 2018 as an additional solution for those customers who have the MERLIN Tempus Enterprise Edition (EE), a scalable, extensible and open manufacturing execution system platform.

Mr. Edstrom is the CEO/CTO for Virtual Photons Electrons. In 2006, while at Sun Microsystems, he helped create the vision and framework for MTConnect, the set of interoperability standards for translating machine data into a common, internet-based language. He served as president and chairman of the board for the MTConnect Institute from 2010 to 2014 and was the CTO for Memex for three years.

Mr. Edstrom was asked to talk about how OEE could be linked to information about financial results, because the concept of FOEE shows that machine performance data has value to decision-makers in the front office from a business management perspective. Analyzing FOEE helps a shop understand how machine performance is helping (or hurting) profitability. This insight keeps the focus on the most appropriate productivity improvement efforts.

Mr. Edstrom began by defining OEE as a simple mathematical formula. It multiplies the percentages of availability, performance and quality to yield a single percentage. This result enables similar units (one machine, one department, one plant or an entire enterprise) to be compared to or rated against a target such as a plant’s best record or a benchmark of world-class performance. However, shops and plants must also focus on profitability. Managers have to balance decisions about maximizing the part-making capability of their equipment with decisions about the money-making potential of this equipment. OEE ratings alone provide an incomplete picture.

FOEE answers the question, “What is the value of improving OEE on this particular machine for this particular product?” More to the point, it answers “How much profit is being left on the table by not performing at company-best or industry-best levels for that specific part?” FOEE requires three key financial input values for each product and machine. These inputs are unit sales price, unit material cost and the hourly operational expense (OPEX) of the machine. FOEE is the current-state hourly profit divided by a value representing a world-class level of profit. This ratio tells a company what profit it made compared to what profit could have been made at factory-best or world-class levels.

With FOEE, managers can look at jobs scheduled for a machine and make decisions based not just on utilization, but also on utilization and profit. This enables managers to compare machines capable of running a certain job and determine which machine would yield the highest hourly profit. Just as the OEE figure related to each project or job is a key tool in prioritizing and evaluating continuous improvement projects, FOEE provides a quick view of the profitability opportunity for these projects. FOEE is a tool to make better business decisions for scheduling products, guiding continuous improvement efforts, and driving sales and marketing efforts."

As I have previously written, the first "killer app" I ever saw was VisiCalc. For those of you too young to remember VisiCalc, it was the world's first "visible calculator" or electronic spreadsheet and it came out in 1979. I remember demoing it in 1979 and the concept was so different, that it took a little while for people to truly appreciate what was going on, but when they did, they would push me aside and take over the keyboard. At that point, I would start writing up the order :-)

I believe the MEMEX's MERLIN Financial Overall Equipment Effectiveness  (Financial OEE™ - trademark by MEMEX) will be the killer metric for manufacturing, as VisiCalc was the killer app for the entire business world.

Bob Hansen, of OEE College and R.C. Hansen Consulting, LLC, is the creator and the thought leader who coined the term, Financial Overall Equipment Effectiveness (FOEE).

Here is a link to the blog on Top Shops where I included all of my slides from the Tops Shops event.

MEMEX Inc. to Unveil and Demonstrate MERLIN Financial Overall Equipment Effectiveness (FOEE)™, MERLIN DNC and MERLIN Continuous Improvement Professional Service

September 14, 2016   Press Releases, Recent News

BURLINGTON, ON–(Marketwired – Sep 14, 2016) – Memex Inc.(“MEMEX”) (TSX VENTURE:OEE) announced today it will be unveiling and demonstrating two new modules to the MERLIN open platform — MERLIN Financial Overall Equipment Effectiveness (FOEE) and MERLIN DNC. MEMEX is also introducing MERLIN Continuous Improvement Professional Services (CI-PS) at the International Manufacturing Technology Show (IMTS) in Chicago.

It is a fact that most manufacturers are totally in the dark in terms of knowing in real-time if they are making or losing money on a given machine tool, shift or plant. Now with the introduction of MERLIN FOEE, we address this critical issue by combining OEE with financials.
Bob Hansen, long time manufacturing consultant and author of OVERALL Equipment “Effectiveness – A Powerful Maintenance / Production Tool For Increased Profits”, stated, “while OEE is an excellent metric, the truth is OEE tells you nothing about your profitability or more important, your potential profitability and this why I created Financial Overall Equipment Effectiveness. MERLIN FOEE is a new tool for leadership teams to visualize hourly profit contribution by product on constraint machines versus world class performance results. Key components of FOEE information can improve prioritization of product /machine scheduling, re-order Continuous Improvement projects, and reset sales and marketing strategies for better cash flow and higher profits. What is the value of an accelerating competitive advantage such as FOEE? Priceless.”

John Rattray, VP of Sales for MEMEX, stated, “FOEE is a game-changer because it provides the ability to visualize real-time financial profit contribution on a per machine/product basis giving management the ability to direct teams with the information to drive profitable scheduling and machine utilization.”

David McPhail, President and CEO for MEMEX, stated, “We acquired the rights to FOEE because we knew that this will completely change analytics for manufacturing. Imagine knowing in real-time if you are making or losing money at any given standalone machine tool or at any one of your plants. What was only a dream in manufacturing, is now a reality with MERLIN FOEE.”

The Direct/Distributed Numerical Control (DNC) market has been flat in terms of growth. With the full embrace of platforms such as MEMEX’s MERLIN this has caused countless manufacturing plants and shops to re-evaluate their DNC solutions. MEMEX made a strategic decision to purchase Dostek in 2015 because of their exceptional reputation in the industry.

Doug Struthers, MEMEX DNC Architect, stated, “After 30 years at Dostek, I joined MEMEX for one primary reason — to create the most comprehensive, flexible, easy to use and easy to troubleshoot DNC software using the MERLIN platform. This was my opportunity to take my many decades of DNC experience to create the absolute best DNC software. MERLIN DNC will absolutely cause manufacturing to rethink their entire DNC strategy.”

The key high-level steps for successful implementation of Management Execution Systems (MES) such as MERLIN Tempus are measure, monitor and manage. Nigel Southway, international consultant, coach for Operational Continuous Improvement & LEAN Thinking and author of CYCLE TIME MANAGEMENT… Fast Track to Productivity Improvement, stated, “we have developed the MERLIN Continuous Improvement Professional Services (CI-PS) program to couple the power of the MERLIN Tempus platform with a comprehensive implementation process that enables organizations to embrace the CI culture. Utilizing time-tested, integrated templates, reporting methodology and advanced problem solving tools the MERLIN CI roadmap drives productivity improvement to achieve benchmark operating effectiveness.”

About MEMEX:
MEMEX, the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of “Successfully transforming factories of today into factories of the future” and encouraged by the accelerating adoption and success of MERLIN, MEMEX is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. MEMEX envisions converting every machine into a node on the corporate networks, thereby, creating visibility from shop-floor-to-top-floor. MEMEX, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers MEMEX’s customers to effectively quantify and manage OEE, reduce costs and incorporate strategies for continuous lean improvement.

Media Contact
Memex Inc.:
David McPhail, CEO
Phone: 519-993-1114
Email: david.mcphail@MemexOEE.com

Rashi Rathore, Marketing Specialist
Phone: 905-635-3040 ext 103
Email: Rashi.Rathore@MemexOEE.com

Investor Relations
Sean Peasgood, Investor Relations
Phone: 416-565-2805
Email: Sean@SophicCapital.com

Nice Article on FOEE at Thomasnet's Tech Trend Journal

The nice folks at Thomasnet's Tech Trend Journal, specifically Al Bredenberg, wrote a very nice article titled:

Al Bredenberwrote a very nice article titled:

Next-Gen Financial Analytics Drive Manufacturing Into Profitablity

The article starts out with the premise of FOEE:

"Yet another benefit emerging from the new technology-enabled shop floor is the power to apply financial analytics to manufacturing operations, equipping decision-makers with the visibility they need to improve profitability. 

This kind of capability can be called financial overall equipment effectiveness (FOEE), according to David McPhail and Dave Edstrom, the respective CEO and CTO of Ontario-based Memex Automation.  FOEE builds on the standard OEE metric, calculated by multiplying availability, quality, and performance.  However, adding the financial dimension helps answer the all-important question of whether the company is making money."

Yet another benefit emerging from the new technology-enabled shop floor is the power to apply financial analytics to manufacturing operations, equipping decision-makers with the visibility they need to improve profitability. This kind of capability can be called financial overall equipment effectiveness (FOEE), according to David McPhail and Dave Edstrom, the respective CEO and CTO of Ontario-based Memex Automation. FOEE builds on the standard OEE metric, calculated by multiplying availability, quality, and performance. However, adding the financial dimension helps answer the all-important question of whether the company is making money. - See more at: http://www.thomasnet.com/journals/techtrends/articles/next-gen-financial-analytics-drive-manufacturing-into-profitability#sthash.ezIe1ZzY.dpuf

Yet another benefit emerging from the new technology-enabled shop floor is the power to apply financial analytics to manufacturing operations, equipping decision-makers with the visibility they need to improve profitability. This kind of capability can be called financial overall equipment effectiveness (FOEE), according to David McPhail and Dave Edstrom, the respective CEO and CTO of Ontario-based Memex Automation. FOEE builds on the standard OEE metric, calculated by multiplying availability, quality, and performance. However, adding the financial dimension helps answer the all-important question of whether the company is making money. - See more at: http://www.thomasnet.com/journals/techtrends/articles/next-gen-financial-analytics-drive-manufacturing-into-profitability#sthash.ezIe1ZzY.dpuf

Financial Overall Equipment Effectiveness (FOEE) at Data Driven Manufacturing Panel at Top Shops

I was in Indianapolis this past week attending the first ever Top Shops put on by Modern Machine Shop.    Huge THANKS to Mark Albert, Editorial Director, a true thought leader in manufacturing and a longtime friend as well, for inviting me to present Financial Overall Equipment Effectiveness(TM)  (FOEE)(TM) at the Data-Driven Manufacturing Panel at Top Shops!

Mark was the moderator and always does a great job.  He asked the audience of over 300 how many of them were monitoring their shops?  I saw 8 to 10 hands go up.  Mark then said, "I hope when we do this again in a year that there are a lot more of you monitoring your shops, as this is the most important thing you should be doing."  I could not agree more with Mark on this advice!

Included below are some photos of the event and at the end is my presentation on MEMEX's FOEE: The Holy Grail of Manufacturing Data.

As I have previously written, the first "killer app" I ever saw was VisiCalc.  For those of you too young to remember VisiCalc, it was the world's first "visible calculator" or electronic spreadsheet and it came out in 1979.  I remember demoing it in 1979 and the concept was so different, that it took a little while for people to truly appreciate what was going on, but when they did, they would push me aside and take over the keyboard.  At that point, I would start writing up the order :-)

I believe the MEMEX's MERLIN Financial Overall Equipment Effectiveness™ (FOEE™) will be the killer metric for manufacturing as VisiCalc was the killer app  for the entire business world. 

Bob Hansen, of OEE College and R.C. Hansen Consulting, LLC, is the creator and the thought leader who coined the term, Financial Overall Equipment Effectiveness (FOEE).

Just as a reminder, it was on Wednesday September 14th, 2016 at IMTS, where MEMEX introduced MERLIN FOEE
 
Here is a link to a number of articles on FOEE on my blog.

Below is the flight in with Indianapolis Motor Speedway in the background.

Below is my bio at Top Shops:
 
Dave Edstrom is the CEO/CTO for Virtual Photons Electrons and has spent 39 (23 at Sun Microsystems) years in the computer industry with the last twelve also in manufacturing.  In the manufacturing world, Dave is best known for his joint work in 2006 and beyond with UCB's Dr.  Dave Patterson to create the vision and framework for MTConnect at AMT's Annual Meeting.  Dave served as President and Chairman of the Board for the MTConnect Institute from 2010 to 2014.  Dave was the CTO for MEMEX for three years leading product development and releasing world-class products at IMTS 2016.  Dave was named one of 30 visionaries in global manufacturing by Manufacturing Engineering Magazine in 2016. Dave is a prolific technical writer of numerous articles, white papers, interviews and blog posts as well as he wrote the first ever book on open systems and MTConnect titled, "MTConnect: To Measure Is To Know".

Above is the program.

Above is me presenting on Data-Driven Manufacturing and discussing my book, MTConnect: To Measure Is To Know, since data-driven manufacturing is a big part of my book.   Mark Albert is to my right above. Thanks to John Rattray of MEMEX for taking the photo above, as well as it was great getting together with John and Barry of MEMEX on Tuesday evening.

Above is where I was interviewed by IMTS-TV.

Below are some cool things they have at the Indy airport :-)

MEMEX's New League of IIoT Solutions

Thank You for visiting the MEMEX booth at IMTS 2016 We appreciate the opportunity to share with the new league of IIoT solutions we unveiled at IMTS 2016. Developed using state-of-the-art technologies these solutions aim at increasing your productivity, throughput and profits.     MEMEX offers you a quick recap and all the promised literature MERLIN Tempus MERLIN Tempus offers a new generation of tools and a dynamic configurable dashboard that provides a complete view of your shop floor. Developed using state-of-the-art technologies, MERLIN Tempus delivers green-light metrics and analytical capabilities that effectively reduce downtime while increasing throughput and profits. Adding to the powerful tools of MERLIN Tempus, the Enterprise Edition brings to you the complete OEE and other metrics along with a dynamic visual job scheduler capable of running multiple operation step jobs. With it’s modular architecture, seamlessly incorporate the future Smart Manufacturing technologies into the platform. Download Literature MERLIN DNC MERLIN DNC is a new plug-in for MERLIN, the IIoT communication platform, that connects your CNC machine tools for efficient transfer of CNC programs and other data. With MERLIN DNC load, run (drip-feed) and save CNC programs with up to 1,000 machines simultaneously. It works with machines equipped with Ethernet, RS-232C and tape reader communication interfaces. Download Literature MERLIN FOEE Financial Overall Equipment Effectiveness (FOEE ) enables an organization to link its shop floor performance to actual profit dollars. Furthering Data-Driven Manufacturing initiatives and building on the foundation of OEE, FOEE compares and displays the financial percentage of profit value of products manufactured in a product run relative to potential world class product run performance. Download Literature MERLIN MTC-One MEMEX's MTC-One is a new breed of IIoT hardware allowing manufacturers to equip their machine tools, assembly, production or processing lines with the true power of edge computing, utilizing MTConnect. Take control of your shop floor and optimize your Overall Equipment Effectiveness (OEE) by monitoring up to 110 optional sensor devices with a single MTC-One. Furthermore, leverage MTC-One's dual Ethernet ports or optional wireless capability to dramatically reduce production interruptions and minimize costs associated with ethernet cable installation. Download Literature MERLIN Continuous Improvement Roadmap The MERLIN Continuous Improvement (CI) program, coupled with the MERLIN software platform, is a comprehensive CI implementation roadmap that enables organizations to successfully embrace and adopt CI culture. Complete with integrated templates, reports, and problem solving tools, the MERLIN CI Roadmap drives productivity and process improvement, thereby assisting manufacturers in achieving world class Overall Equipment Effectiveness (OEE) as expediently as possible. Download Literature Contact Gord at MEMEX to further explore how the MERLIN platform can help you achieve the true potential of Data-Driven Manufacturing along with IIoT centeric business outcome. Phone: 905-635-3040 Email: Gord@MemexOEE.com

Copyright © 2016 MEMEX Inc., All rights reserved. You are receiving this email because you have indicated an interest in MEMEX IIoT manufacturing productivity products. Our mailing address is: MEMEX Inc 3425 Harvester Rd, Suite 105 Burlington, ON L7N 3N1 Canada

MEMEX Inc. to Demonstrate an Array of World-Class IIoT Solutions at IMTS 2016 September 8, 2016 Press Releases, Recent News

BURLINGTON, ON–(Marketwired – Sep 8, 2016) – Memex Inc. (“MEMEX” or the “Company”) (TSX VENTURE: OEE) is proud to announce that it will be unveiling and demonstrating an array of world-class Industrial Internet of Things (IIoT) software and hardware platforms at the International Manufacturing Technology Show (IMTS) in Chicago, between September 12th to the 17th.

With these announcements, MEMEX is redefining what it means to truly know what is happening in your plant. MEMEX has long been recognized as the leader in both shop floor monitoring, as well as providing MTConnect software and hardware solutions for any piece of manufacturing equipment on the plant floor.

Doug Bellin, Global Lead for Manufacturing and Energy Industries at Cisco, stated, “Since early 2015, Cisco has been working closely with MEMEX on IIoT security solutions based on MTConnect. Cisco is excited about the upcoming announcements at IMTS 2016. This further demonstrates MEMEX’s global leadership and their ability to connect all devices on the plant floor, using Cisco’s secure networking solutions, thereby turning that raw data into secure actionable information for the operator, plant manager and CxO to use to improve manufacturing productivity.”

New Product Announcements at IMTS 2016

On Monday September 12th, 2016 MEMEX will unveil MERLIN Tempus™ and MERLIN Tempus Enterprise Edition (EE). MERLIN Tempus is an open and extensible Manufacturing Execution System (MES) platform which offers the next generation of tools such as dynamic easily configurable dashboards and advanced reporting along with many other manufacturing analytical capabilities that enable time-saving execution of continuous improvement initiatives using Real-Time and historical data.

Developed using state-of-the-art software engineering technologies, MERLIN Tempus delivers green-light metrics and analytical capabilities to effectively reduce downtime while increasing throughput and profits. MERLIN Tempus EE extends the capabilities of MERLIN Tempus with full Overall Equipment Effectiveness (OEE) and integrated job scheduling. MERLIN Tempus EE creates an opportunity for a dramatic increase in OEE based on accurate Real-Time information collected using a true shop-floor-to-top-floor communication network connecting all machines, old and new.

On Tuesday September 13th, 2016 MEMEX will introduce the MTC-One. MEMEX has established itself as the company that addresses “the last meter” and leaves no machine behind when it comes to legacy connectivity on the plant floor. The MTC-One is the “Swiss army knife” hardware device for legacy machine connectivity enabling any machine on the plant floor to become MTConnect® capable.

On Wednesday September 14th, 2016 MEMEX will introduce MERLIN Financial Overall Equipment Effectiveness™ (FOEE™), MERLIN DNC and MERLIN Continuous Improvement (CI) Professional Services (PS). The holy grail for manufacturing is not simply knowing how effective a specific machine tool or the entire plant is, but rather it is knowing both the effectiveness and the profitability or loss of any given machine tool as well as the entire plant. MERLIN DNC is a reinvention of DNC fitting to current software and hardware platforms with the emphasis on ease of use and feature capabilities. MEMEX CI-PS is a new and much needed service where MEMEX consultants will assist customers in achieving the highest possible in-plant productivity using the MERLIN platform.

Dave Edstrom, CTO of MEMEX Inc., author of “MTConnect: To Measure Is To Know”, as well as former President and Chairman of the MTConnect® Institute, stated, “These announcements at IMTS 2016 represent years of research and development investment. We will be demonstrating and delivering state-of-the-art technologies with industry leading features that will further distance MEMEX from its competition.”

MEMEX’s entirely new software and hardware platforms are built upon the success of the current award-winning MERLIN software suite, which has enabled manufacturers to achieve upwards of 50% increase in productivity, a 20% plus increase in profit based on a 10% increase in OEE, along with securing payback in less than four months which equates to an Internal Rate of Return greater than 300%.

David McPhail, CEO of MEMEX Inc., and Mr. Edstrom, will be in booth E3368 to discuss and demonstrate these new game-changing software and hardware along with other MEMEX industry experts. Both Mr. McPhail and Mr. Edstrom have been recognized as two of the top 30 Advanced Manufacturing Visionaries by Smart Manufacturing Magazine.

About MEMEX:

MEMEX, the developer of MERLIN, an award winning IIoT technology platform that delivers tangible increases in manufacturing productivity in Real-Time, is the global leader in machine to machine connectivity solutions. Committed to its mission of “Successfully transforming factories of today into factories of the future” and encouraged by the accelerating adoption and success of MERLIN, MEMEX is relentlessly pursuing the development of increasingly innovative solutions suitable in the IIoT era. MEMEX envisions converting every machine into a node on the corporate networks, thereby, creating visibility from shop-floor-to-top-floor. MEMEX, with its deep commitment towards machine connectivity, offers solutions that are focused on finding hidden capacity by measuring and managing Real-Time data. This empowers MEMEX’s customers to effectively quantify and manage OEE, reduce costs and incorporate strategies for continuous lean improvement. For more information, please visit:www.MemexOEE.com

Media Contact

Memex Inc.:

David McPhail, CEO

Phone: 519-993-1114

Email: david.mcphail@MemexOEE.com



Rashi Rathore, Marketing Specialist

Phone: 905-635-3040 ext 103

Email: Rashi.Rathore@MemexOEE.com



Investor Relations

Sean Peasgood, Investor Relations

Phone: 416-565-2805

Email: Sean@SophicCapital.com