Achieving 100% productivity of equipment on the manufacturing factory floor is nearly impossible. This is why calculating the overall equipment effectiveness (OEE) is crucial.
OEE can enable manufacturers to improve processes, consistency, quality, and productivity, thereby resulting in bottom-line savings.
The Internet of Things (IoT) can help manufacturers identify and take corrective action in order to improve OEE. Indeed, OEE has emerged as a best practice to translate data from various sources into numbers that help manufacturers to direct resources for issue resolution and output improvement.
OEE categorizes sources of manufacturing productivity loss into three categories — availability, performance, and quality.
While availability compares the time an equipment is available with the time it should be up and running, performance measures the ideal and optimal operating speeds of line or components. Quality quantifies products that fail to meet standards.
Additionally, predictive maintenance can help avoid downtime, thus improving the MTTR. Constant monitoring of production lines using IoT-enabled equipment can lead to improved quality, whereas reminders for predictive maintenance can lead to optimal performance. These factors can help in the creation of smart factories.