If you're responsible for managing operations, the following scenario won't be new to you: You have a meeting with the executive team tomorrow and you are running around to get information on metrics for your presentation. The next day, you're expected to report on the overall performance of your plant to several department heads.
In Part 1 of this series we gave a detailed explanation of how LNS Research thinks the OEE Formula is best applied to a given asset or production line to both maximize local production efficiency as well as overall supply chain performance. In Part 2 we will go through a fictional example to start applying real numbers to all the OEE Formula terms mentioned previously. Hopefully this will help answer any questions you may have to using our OEE formula in your own plant.
In this post, part 1 of 3, we will give an overview of the OEE Formula. In future posts we will go through an example of the formula, discuss how to use it for improved decision making, and examine what the OEE Software vendor landscape looks like today.