AFE-St. Louis's June Meeting/Tour
Frank Kastl gave us a tour of the 42nd floor. There was some very interesting features as the entire floor was designed as a sales tool. Then Don Fitchett started out speaking as an AFE member on the value of participating in an organization. Next Don used a power point presentation to cover his main topic, "The true cost of downtime".
Networking and Organizations:
Metcalfe's Law - Bob Metcalfe, inventor of Ethernet and founder of 3Com, stated that the value of a network is at least of the order of N-squared
Don went on to explain this analogy in his normal teaching format of speaking by asking the question ... What is the most valuable asset of participating in an organization? Most answered very quickly and correctly by stating, "networking". When ask the next question "What original value does the internet and organizations have in common?", none where quick to answer. (networking people and information)
The Internet and organizations where first developed and thrive today on one primary premise. "When two minds come together working on a common goal, they thereby create a third intangible force that will result in a solution that neither individual would have likely concluded on their own."
Don goes on to elaborate the N-squared power of networking people.
The results, the most powerful problem solving tool.
The Meeting Topic:
Don was one of the first to address the issue of "The True Cost of Downtime" with his website dedicated to the topic. (DowntimeCentral.com). He completed this website after a five year study of all the cost metrics involved in manufacturing.
Last week ARC Advisory Group ( #1 advisers to the industrial markets) announced a new trend. Companies are realizing "Profit Optimization Requires Understanding True Product Costs". This report shows AFE St. Louis brings you the latest information to excel in the work place and realize greater cost savings.
Don showed that even in these economically troubled times, it is not necessary to use employee cutbacks to survive. That is not when there is so much waste in other areas that can be trimmed. The Arc report sums it up nicely ....
"A substantial percentage of companies are making strategic selling and product pricing decisions based on flawed data. Too many manufacturers use standard costs or badly flawed cost allocations for these critical decisions."
To download Don Fitchett's power point presentation on The true cost of downtime, please right click here and select "save as".
Thanks to those who attended, hope to see more of you in our engineering ranks at our next meeting on Energy Savings with Variable Speed Drives.
Thanks Again Metropolitan Square, for the great time!
AFE Members: We exist because of the continued support of our Sponsors. When you have needs, please show your appreciation by contacting them.
AFE Chapter 26 - Serving Greater St. Louis Area, USA