The First Step in Transforming a Factory into a Smart Factory

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.  We then outline 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 investment thesis.  Then we tie it together with a smart food packaging plant case study. This show is brought to you by DIGITAL OPERATING PARTNERS Related links you may find useful: Season 2: Episodes and show notes Season 2 book: The Private Equity Digital Operating Partner Season 1: Episodes and show notes Season 1 book: IoT Inc Training: Smart digital transformation certification