The Evolution of Manufacturing: Machine to Machine Technologies, Predictive Analytics, and More
Discussion Moderator: Greg Libertiny
Panelists: Michael Eldredge | John W. Kennedy | Ned Mavrommatis | Rob Weingartz
Machine-to-Machine technology, known as M2M, and the Internet of Things, is expected to reposition traditional manufacturing, logistics, and other aspects of business. M2M applications are in use in many applications, and can be intelligently deployed to achieve extremely high levels of operating efficiency, quality control, strategy and decision-making, customer relationships, and B2B transactions. Accurate and real-time information can be automatically delivered to better support management thinking, develop greater business intelligence, increase speed, and permit companies to more effectively manage resources, preserve assets, respond to changing conditions, and more.
Join Greg Libertiny, Senior Vice President, Finance and Business Operations of Theorem, Ned Mavrommatis, CFO of I.D. Systems, Robert Weingartz, CFO of Arrow Fastener, and John Kennedy, CEO of The New Jersey Manufacturing Extension Program, as they share their insights, ideas, and experiences about traditional manufacturing and logistics, and explore the opportunities and challenges of M2M.
Greg Libertiny is a broad-based executive with extensive experience in operations and finance. His early career was spent with industry titans RCA, General Electric and MCI. Greg was enticed away from MCI in 2001 where he crafted and built a pan-Caribbean wireless enterprise that was eventually sold in 2005. Subsequently, he became a founding partner in a consulting and advisory firm providing transactional and transformational support services focusing on the middle market. His collective experience has been global in nature and spans a variety of industries and sectors, including information, communications, technology (collectively “ICT”), manufacturing, distribution and green/renewables.
Greg earned a Bachelor’s degree from Baruch College and a Master’s degree from Fairleigh Dickinson University. He is a certified public accountant and holds advanced credentials in business valuation and financial forensics. Greg is also actively involved with several commercial and not-for-profit board roles.
Michael Eldredge is one of the founding partners of American Sensor Technologies, Inc., a high-technology sensor developer and manufacturer where he is its Executive Vice President – COO / CFO and Chairman. Prior to the start of American Sensor Technologies Michael held various managerial and executive positions with such noted companies and American Cyanamid, Johnson and Johnson and later with Biosearch Medical Products and Measurement Specialties.With a broad background in finance and administration, Michael leverages his talents and gained experiences in one of the most successful sensor companies formed in the past 12 years. He was awarded CFO of the Year in 2006 by the New Jersey Technology Council, Entrepreneur of the Year in 2007 by Ernst and Young and has been a finalist in the 2011 and 2012 NJBIZ CFO of the Year programs.
Michael’s believes that his professional standards have been key to his success. “When others say you will not succeed – prove them wrong. Always be proactive in your responsibilities and never take the attitude that something isn’t your job. Never put yourself above your staff, but rather mentor others and always be open to being mentored. Always be truthful and maintain the highest level of integrity. Keep in mind that greed always precedes failure.”
John W. Kennedy has spent over 30-years in the Engineering and Manufacturing Industries – both in Sr. Management w/ larger firms like Sandvik & Cofely-GDF-Suez – and as the owner of several successful firms.
One company being the large-bore machine shop Barnett Industries which was located in Irvington. John teamed with Charlie Hood and Tony Ferreira until Tony purchased the firm and moved it to Harrison where it became Barnett Machine Tool.
John also served as President/COO of The Multitech Group (TMG), and engineering firm that was sold to Thinkpath in 2007. The company was regularly named by NJBIZ as one of the top performers in its market.. TMG was on the post 9-11 Team that supported the deployment of scanning and screening machines in 429 US Airports.
After selling the firm, John was the President of the US Market for Cofely Services, a division of energy giant GDF-Suez. The company focused on high-end operations and maintenance support for airports, government, and high-tech manufacturing firms.
In 2012, John was asked to join New Jersey Manufacturing Extension Program (NJMEP) as the Chief Operating Officer and became Chief Executive Officer in 2014. Joining NJMEP brought him full circle back to his manufacturing and New Jersey roots. The mission and the opportunity are solid “fits”.
John is a frequent lecturer on Engineering and Manufacturing on STEM Nova Programs, as well as, an author of many technical articles. He is also an Eagle Scout, and Nationally Distinguished Eagle Scout, and the Mentor/Advisor for 250 Eagles. He sits on the BSA Board as the National Venturing Advisor.
New Jersey Manufacturing Extension Partnership, Inc. (NJMEP) is part of The National Institute of Standards and Technology’s (NIST) Hollings Manufacturing Extension Partnership (MEP). The program consists of 60 MEP Centers that work directly with their local manufacturing communities to strengthen the competitiveness of our Nation’s domestic manufacturing base. NJMEP provides New Jersey manufacturers with access to technologies, resources, and industry experts to achieve these goals. Through the no cost assessments that it provides to manufacturers, NJMEP identifies vulnerable areas within a company and provides recommendations for strengthening any weaknesses. NJMEP will also assist in implementing the recommendations by providing experts in the specific areas that require attention. Through its various programs such as R&D tax credits, Energy Audits, Certifications in ISO and AS-9100 Quality and process improvement programs NJMEP has helped NJ manufacturers increases sales, reduce costs and expand their markets.
Prior to joining I.D. Systems, Mr. Mavrommatis was Senior Manager at the accounting firm of Richard A. Eisner & Company L.L.P. Mr. Mavrommatis received a Master of Business Administration in finance from New York University’s Leonard Stern School of Business and a Bachelor of Business Administration in accounting from Bernard M. Baruch College, The City University of New York. Mr. Mavrommatis is also a Certified Public Accountant.
About I.D. Systems
I.D. Systems, Inc. is a leading global provider of wireless M2M solutions for securing, controlling, tracking, and managing high-value enterprise assets, including rental cars, industrial vehicles, trailers, containers, and cargo. The company’s patented technologies address the needs of organizations to monitor and analyze their assets to increase efficiency and productivity, reduce costs, and improve profitability. The company is headquartered in Woodcliff Lake, New Jersey, with subsidiaries in Texas, Germany, and the United Kingdom.
Rob Weingartz is Vice President Finance of Arrow Fastener, a business unit of Masco Corporation. He was appointed to this role in October 2012. Prior to joining Masco, Weingartz held various financial leadership and general management roles with Black & Decker, Newell Rubbermaid, and DeVry. In addition to leading the overall global finance functions for large businesses units, he has assisted with financial planning, due diligence, and integration of several acquisitions. Weingartz has contributed to successful region-wide geographic expansion initiatives while living and working outside-of-USA on four separate expatriate assignments in Japan, China, Singapore, and Italy. He holds a bachelor’s degree in accounting from Pennsylvania State University and an MBA in finance from Loyola College.
About Arrow Fastener
Arrow Fastener Company, headquartered in Saddle Brook, NJ, is a leader in manual, electric and cordless fastening tools for both pros and DIYers. Founded in New York City in 1929, Arrow quickly became synonymous with its flagship staple gun, along with its full range of T50® staples. Building on the success of the heavy duty T50® staple gun, Arrow now markets a full line of pneumatic, electric and manual staplers and brad nailers as well as rivet tools, glue guns, and hammer tackers and a full line of consumables to match.
Arrow is a proud member of the Masco family. Masco Corporation is one of the world’s largest manufacturers of brand-name consumer products for the home and family, including Behr® paint, Delta® faucets, bath and shower fixtures, KraftMaid® and Merillat® cabinets, and Milgard® windows and doors.