In this article we break down (pun not intended) the many elements of a Total Productive Maintenance (TPM) approach - and the value of adopting it.
In manufacturing, unplanned downtime is a profit and reputation killer, and also significantly impacts a manufacturers ability to hit OEE targets (as MOVUS discussed with OEE expert Clive Moore earlier this year). This new case study from Australian manufacturer Matrix Polymers highlights the value of continuous condition monitoring.
As many of us know, manufacturing in Australia continues to be a vital contributor to our economy, the sector continues to grow and turn out world leading products. But there is continued pressure on the sector – Are we cost competitive? Is our labour cost too high? Can we innovate? How do we grow when we don’t have the scale of overseas markets like Asia, Europe, or the Americas?
MOVUS was founded by CEO Brad Parsons in January 2015, initially starting out of The University of Queensland’s iLab, a supporter of technologically cutting-edge entrepreneurial start-up businesses. MOVUS’ flagship product, the FitMachine, provides an end-to-end equipment monitoring solution for industrial machinery using the latest machine learning and artificial intelligence technologies.
According to the Australian Industry Group (Ai Group), our national Manufacturing industry has been expanding consistently with 25 months of uninterrupted growth (1), the longest run since 2005. On the other hand, it is no secret the sector is under pressure to transform. Traditional production methods and business models are being disrupted as digital technologies advance the capabilities of the industry.
MOVUS was recently invited by Telstra Ventures (one of our investors) to be part of their showcase stand at Telstra Vantage late last month. Vantage is Australia’s largest invitation-only technology event and brings together passionate individuals and organisations so as to collaborate on the future and immerse themselves in innovative technology solutions. For MOVUS, this was a unique opportunity to promote our solution to a diverse business audience number over 6,000 attendees.
Technology continues to be a key component of MOVUS’ market leadership and our investment remains strong. The latest release of our FitMachine technology stack has several exciting new developments, with more on the way. In brief,
The MOVUS team talk to a lot of regional companies across a wide range of industries about Industry 4.0, Industrial IoT etc and we’re always asked about how to set up a project in this space.
The MOVUS team will be exhibiting our FitMachine solution at Asset Management Reimagined in Melbourne on 6 & 7 August at the Pullman Hotel Albert Park.