If you are a manufacturing leader, then it is imperative that you learn all you can about MTConnect and the digitization of the manufacturing industry. As the internet of things continues to grow, companies should be prepared to integrate technology into their company. During this episode of MakingChips, Jim and Jason talk with Russ Waddell, Managing Director of MTConnect. With over 200 employees under his supervision, Russ is leading MTConnect to be the standard among manufacturers. Listen and be equipped with information and inspired to grow your company. Connect with us:www.MakingChips.com/contact How information is changing the manufacturing industry Over the last 20 years, the internet has changed not only the daily lives of people around the world, but also the way companies do business. Manufacturers are not exempt from the advances of the internet. Increasingly, the internet of things is becoming a common reality in businesses. The internet of things refers to how different connected devices communicate and share information with each other utilizing wireless connection. MTConnect is an important component for manufacturers considering the digitization and internet of things in their companies. The importance of standards Just as it is important to have cultural standards within your company that helps to guide business practices and employee behavior, it is equally important to have technological standards. As the digitization of the manufacturing industry continues to grow, efficiency is a necessity. How can you best use technology to your advantage without over-complicating processes and procedures? Russ Waddell says, “The IT world is getting closer and closer to the factory world, having a basic understanding of how to pick a standard or a set of standards that is going to work is essential.” Hear all about that and more on this episode of MakingChips. What is MTConnect and how can it help manufacturers MTConnect is an open-source standard that allows the manufacturing equipment in your shop to capture, store and share important data. It can help streamline communication among machines by providing a consistent vocabulary for your equipment. Being able to access the data that MTConnect collects can help in a multitude of ways and the open-source nature of the software also allows its functions and capabilities to continually be improved. During this interview, Russ explains what MTConnect is, how it is applied, and the benefits your company can experience from using it. How to adapt your company for digitization Preparing to adapt your company for digitization first requires a plan. Before using a software like MTConnect, you have to know what questions within your company you need answers to. What data do you need to be able to access and analyze? Russ Waddell points out the importance of knowing spindle time. Your plan must also consider how you will organize and analyze data collected. Manufacturing leaders should also consider how to upgrade legacy equipment so that they can also be connected. Digitization takes planning. For more information on what you should consider and how to plan, listen to this episode of MakingChips. Here’s The Good Stuff! The access of information and how it is changing the sales model at Zenger’s Manufacturing News: The Wall Street Journal’s manufacturing beat job opening Introduction of guest Russ Waddell, Managing Director of MTConnect Institute What MTConnect is and how it is used in manufacturing How can a manufacturing leader utilize the capabilities of MTConnect What data should manufacturers be collecting and analyzing The open source nature of MTConnect and the advantages it provides to the market The importance of assessing and implementing a set of standards for your business IMTS will give you an opportunity to get a close-up look at MTConnect Tools & Takeaways http://IMTS.com MTConnect mHUB This Week’s Superstar Guest All mentioned resources Russ Waddell Connect With