Memex Inc. (OEE) has Products Revolutionizing the Industrial Internet of Things
Stephen L Kanaval |
Overall Equipment Effectiveness is maybe not a phrase you hear that often, but if you manage a shop or a work site, you know exactly what it means. It means that your machines on your floor are running at peak performance. Memex Inc. (OEE) understands this so well that they made it their stock symbol. So, how does Memex do this? The company has created a manufacturing execution system called MERLIN OEE. The MERLIN OEE system is connected directly to the machines on the floor and offers live results and a constantly updating dashboard of metrics. Memex’s MERLIN OEE is all about a company using the machines that they have and making them better by finding the hidden areas of profit loss.
The creation of this unique system has allowed Memex to have four straight quarters of revenue growth. Meme produced a gross margin of $375,000, which was 27% higher than the same quarter in 2015 (cited from press release here). The industrial internet of all things is coming, and if you read Equities.com frequently you know that there are disruptive products out there. Memex is one of these companies that understands how to bridge the last twenty years with the next fifty years. The MERLIN OEE takes older machines and adapts them with software and shows areas where the machine can be improved. These analytics can save companies a lot of money. As a matter of fact here is what Memex says about that:
MERLIN delivers a 10%-50% average productivity increase, and earns 20%-plus profit improvement based on just a 10% increase in OEE. It consistently achieves payback in less than four months with an Internal Rate of Return (IRR) greater than 300%, and connects to any machine, old or new, utilizing native MTConnect, other protocols or MERLIN hardware adapters for older machines
Memex has important alliances with Cisco and Mazak. In addition, the MERLIN OEE has been proven in plants like Milwaukee Tool, Magellan Aerospace, Aero Pacific, and many more. And just think, there are over 16 million Computerized Numerical Control (CNC) machine tools installed world wide, what do you think Memex could do for all those companies with its machine monitoring software?
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