The Manufacturing Trifecta

Just in case you don’t know the term, “hitting the Trifecta” is an expression used to describe the ultimate winning bet on a horse race. It refers to picking the top 3 finishers of the race, in the correct order. Since the odds against doing so are extremely low, the winning payouts are often extremely high. If you picked the right horses in the right order, a two-dollar bet could return a 4-digit payout.

Wouldn’t it be great to know which 3 horses to bet on, and in which order?

In many manufacturing companies in North America today, there are many competing ideas and priorities being considered by companies:

  • What is the most important improvement to make first?
  • What investment will yield the biggest return?
  • Which improvements will prove critical, and which ones will result in minimal, if any, gain?

There is an approach that your manufacturing company can follow to “hit the trifecta”. It’s a simple 3 step process. The first step is easy, and relatively low cost. The second step requires a bit more effort but is risk mitigated because it is based on the results delivered in step 1. The third step requires the most investment, but since it is based on the results delivered in the first 2 steps, it is not only risk mitigated, but the cost of the investment may have already been paid for by the results of the first 2 steps. Picking the order is just as important as picking the horses.

I want to show you how you can hit the trifecta in your plant.

Pulling off the Manufacturing Trifecta

Step 1 Icon that is a circleStep 1: Establish an empirical baseline to truly understand the critical “value-adding” activities on your plant floor. This is done simply by connecting your machines to FreePoint’s ShiftWorx system. It is remarkably inexpensive and can be typically be done in less than an hour without modifying the machine or your current infrastructure. Within 30 days of placing this small bet, you will not only have established an empirical baseline of your plant, but you will also have given real-time visibility to the plant that puts everyone on the same page, aiming for the same thing you are: productivity and profit improvement.

Step 2 Icon that is a circleStep 2: Engage your people in the process of improvement by using FreePoint’s Narrative software. You will now be collecting all the information you need to determine all the reasons your equipment and processes aren’t running as effectively as they should be. And more importantly than that, you will have made your people a part of the solution and improvement process, every hour of every day. They will be engaged. FreePoint’s Narrative software is embraced by workers when they conclude that management is not monitoring them, but rather listening to them. This is a powerful game-changer for many companies, especially those companies where people are their biggest input cost. Those same people can also be their biggest asset.

Step 3 Icon that is a circleStep 3: Connect your live, empirical machine data, and your fully engaged people, to your schedule and workflow plan dynamically – in real-time. Most plants use a combination of accounting systems, whiteboards, even excel spreadsheets, to plan and then report on the performance of their productivity. Some may have an ERP system deployed and some may even be considering an MES system. The problem with most ERP and MES system deployments is that it represents a single, very large bet, that will take a very long time to pay out if it pays out at all. FreePoint’s approach is to use what was gained (knowledge, insight, plus early financial payback) from the first 2 stages, tying them together in a process using visualization tools that line up with your plant’s current effective processes. Placing a bet on a system that takes years to fully implement and requires your manufacturing processes to be modified for the system to work is not just a bad bet, it’s often a losing bet.

The Outcome

factory clip art freepoint technologiesIf you are still reading, you are probably wondering how long it should take to hit this trifecta. The first step should take 30 days and should result in a payback 30 days later. The second step should take 30 days, and it too should result in a payback in 30 days. The third step should take about 120 days, but it can take as long as you like, because at that point, you will already have great empirical data, engaged and motivated people, and your system can be built to match your improved, and continually improving, manufacturing processes.

What is the expected payback on hitting this trifecta? From our experience, our customers typically see a 10% to 15% improvement at step 1, a further 10% to 15% improvement after step 2, and a 20% to 30% improvement after step 3. Doing the math, that would work out to productivity improvement, or capacity increase, of between 45% and 79%.

There it is, now you have the knowledge on which horses to bet on! Our suggestion: bet on achieving empirical data first, engaging your people second, and digitizing your plan third.

Call FreePoint to get started today.

FreePoint Technologies CEO Paul Hogendoorn

Machine Monitoring Costs Less Than You Think

For any business, the process of implementing any new technology can often seem like a costly and time-consuming task. Industry 4.0 and machine monitoring is no exception.

Emerging technologies and existing technological advancements are paving the way for a revolution in the manufacturing industry; but how much does being a part of this revolution cost? Well, that depends on the technology.

Why Bolt-on Solutions Are Less Expensive

Unlike robotics, AI and fully automated factories, machine monitoring is relatively inexpensive. Instead of the intensive and often costly installation of AI and robotics, machine monitoring can be installed with minimal cost and disruption to machine operations. Rather than having to alter or rebuild existing infrastructures, bolt-on monitoring solutions like our ShiftWorx Platform are bolt-on, making them extremely simple to incorporate on the shop-floor.

By installing our hardware without disrupting machine production, we can provide a cost-efficient solution that saves you money and never contributes to machine downtime. By maintaining a low overhead cost, our solutions also experience impressively quick ROI. In fact, one of our clients managed to achieve an additional +160 hours of machine output per month—both saving and making them a lot more money in the process.

Employee Looking at a ScreenWhen manufacturers are asked what their plant utilization rate is, most plant managers give an answer anywhere between 65-75%. In most cases after machine monitoring is implemented, the actual percentage is revealed to be closer to 25-32%. That massive variance illustrates how quickly machine monitoring solutions can help manufacturers save on production costs, helping payoff the system in days rather than months and years. Once switched on, machine monitoring solutions instantly start paying themselves off.

Overall, transitioning to IIoT doesn’t have to break the bank. By piggy-backing off existing infrastructures as opposed to rebuilding them, machine monitoring can be an attainable and inexpensive means of innovating your production process and enhancing your plant’s productivity.

Get a free quote today and find out for yourself how attainable IIoT can be for your organization.

FreePoint is Attending Microsoft’s Vox ISM Event

FreePoint is excited to be taking part in this year’s Best Manufacturing Apps Conference (BMAC). Hosted by Microsoft Canada partner, VOX ISM, BMAC unites Canadian manufacturers and industry experts, educating them on the latest in digital transformation technologies.

In addition, our President, Paul Hogendoorn is taking part in a panel of technology suppliers addressing industry leaders and manufacturing professionals. As always, FreePoint is excited to be displaying our non-invasive machine monitoring software and hardware solutions.

According to Vox ISM, there are 3 main reasons you should be attending the 2019 BMAC conference:

  1. Interact with BMAC exhibitors showcasing their latest technologies.
  2. The BMAC is recognized as the best platform for Canadian Manufacturers to interactions with the latest trends in the manufacturing industry.
  3. Experience and envision the business relationships being made and developed with prospective exhibitors of your interest.

If you would like to attend this years conference, you can register here.

BMAC VOX ISM Conference

How Reason Codes Help Reduce Machine Downtime

The worst enemy of any manufacturer is machine downtime. How to control and mitigate downtime is a constant battle for manufacturers trying to increase efficiency and maintain peak production. At FreePoint, through machine monitoring and production tracking technologies, we work with manufacturers to minimize downtime as much as possible, while maximizing machine output.

One of the ways we help manufacturers control their machine downtime is with Reason Codes, the backbone of downtime narration in our ShiftWorx platform. When a machine becomes idle, operators can apply a reason code to categorize that downtime period. Rather than seeing a machine offline for 20 minutes with no explanation, plant managers can see in real-time what the cause of the delay is— and address it. Those small increments of time add up, 10 minutes here or there can be worth over 6 figures in a year.

Using Reason Codes, you can:

  • Diagnose Machine Downtime Causes and Apply Solutions
  • Alert Decision Makers in Real-Time to Plant Floor Issues
  • Identify Machine Maintenance Needs
  • Empower Employees to be Part of the Solution

FreePoint’s ShiftWorx dashboard visualizes machine performance with one-click application of downtime reason codes.

Identify Downtime Causes

With reason codes, employees and managers can easily identify factors impacting machine downtime. Whether the reason is “waiting on materials” or “needs repair”, everybody is made aware of what factors are contributing to delays— valuable data for plant managers seeking to increase efficiency and achieve seamless production in real time. If someone has transparency into delay causes, they are more motivated to solve the cause of the delay. This makes the overall process more efficient and engaging.

Keeping Everyone in the Know

Reason codes also help mitigate machine downtime with real-time alerts. When reduced productivity or machine delays are detected, notifications are sent to all devices connected to our ShiftWorx platform, through SMS or email. Real-time alerts increase response time to problems that impact production—meaning solutions are found faster, and the length as well as the frequency of downtime can be decreased.

Identifying Downtime Patterns

By comparing actual performance to projected performance, you can benchmark productivity against past data to identify opportunities for improvement. A recurring reason code could indicate a machine issue in need of maintenance, or another machine consistently causing delays. Identifying these factors better positions plant managers to rectify them and prevent them from happening in the future.

It is important to understand that all data is good data. Even un-anticipated downtime, machine breakdowns or inefficient scheduling can give you crucial insight into your operation. When machine monitoring hardware works in tandem with data visualization, you can see every performance detail from any machine, regardless of industry or age of machine.

Schedule a demo today and learn what ShiftWorx can do for you!

Why FreePoint’s IIoT Solutions Have Quick ROI

The transition to industry 4.0 can seem daunting at first. How much will it cost? How will it fit my process? How long will training staff take? All common questions we get asked from manufacturers. The most common question we get asked is “how soon can I expect an ROI?”. Luckily, the answer is simple: VERY SOON. In fact, one client of ours managed to save $300 per day as a direct result of our machine monitoring, which allowed the system to pay itself off in less than a month.

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Increasing Efficiency With FreePoint

About Caldwell

For more +130 years, Caldwell has created quality spring balances for window manufacturers around the world. Their products are everywhere from homes to schools, offices to hotels, even the United Nations Secretariat Building and the Empire State Building.

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7 Ways IIoT Solutions Are Driving Manufacturing Success

Manufacturers and industrialists in every sector are on the threshold of significant change. Industry 4.0 is the newest industrial revolution. It represents the use of Industrial Internet of Things (IIoT), automation, sensor technology, and other innovative solutions to streamline the production and distribution process.

IIoT solutions not only monitor but also automate many of the complex processes involved in manufacturing. While systems have been created in the past that track production progress, IIoT technology focuses on providing in-depth details to managers and staff. Here are seven compelling ways IIoT is transforming the industry today.

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FreePoint Presents: The Microsoft Dynamics Solid Gold Event

FreePoint Technologies is excited to be presenting at the fall Vox ISM seminar in Mississauga at Microsoft Canada HQ.

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Six Ways Machine Monitoring Can Save You Money Today

In every manufacturing process, there are two elements; value, and non-value. Both cost time and money, but only one will yield returns. Machine monitoring systems connected to IIoT (Industrial Internet of Things) technology is the best way to capitalize on value-added processes.

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