Matt Shields – MyLM

Matt Shields, CSIRO – My Lifecycle Management (MyLM)

In 2016, CSIRO project engineer and elite athlete Matt Shields suffered a near-fatal heart attack – saved thanks to his medical team, but also because the correct biomedical component (a stent) was in the right place at the right time. This experience made him start to see how his work on a parts tracking system for the Australian Square Kilometre Array Pathfinder (ASKAP) radio telescope could be applied to the medical world – more importantly to the biomedical devices supply chain.

Over the next few years Shields founded MyLM – a company that catalogues and tracks medical devices – allowing hospitals and medical institutions to see where a device is at any given time, as well as how long it has been there for and when it is due to expire. The company launched in July 2020 and is soon to undergo a name change to Pentalym (in November 2021).

MyLM (“My Lifecycle Management”) was born – developed at CSIRO using learnings from the original ASKAP system. With MyLM, we have taken everything we have learnt to date and enhanced it for real-time trackability across any industry, large or small. It is the ultimate supply chain technology – improving tracking efficiency and reducing costs through tailored cloud-based platforms.

Matt ShieldsFounder & CEO of Tracksoft

Some of the biggest challenges in the industry today result from the common trend of remote teams working from home, in different time zones. Supply chain issues, resource constraints and travel, lack of real time information and the deployment of complex projects using many tools and systems can also be hard to manage. Hence, MyLM can manage end-to-end inventory management for all medical devices, including:

  • Stock traceability management
  • Product return management
  • Stock ownership management
  • Digital charge sheets
  • Stock order management.

MyLM creates a streamlined approach to inventory management for hospitals, removing the aspect of human error in record keeping and paperwork, most of which has been traditionally kept up-to-date by hand. Costing  hospitals very little to implement, MyLM works much like a supermarket scanner, reading a barcode attached to each device (tags are supplied to hospitals by MyLM).

For manufacturers, MyLM creates a more efficient process, allowing them to see how each device is used by hospitals, where supply chain costs can be reduced and how to ensure inventory waste is minimised.  

The next ‘stage’ of the journey – as the MyLM branded app enters new industries will be rebranded as “Pentalym”. Matt and his team are bringing supply chain technology to all new sectors.
For more on Matt Shields and MyLM, please see the MyLM company webpage.
Matt Shields from CSIRO created MyLM. Credit: Matt Shields.