It might not seem like much, but a one percent improvement for an industrial producer can contribute a million dollars to the bottom line.
What is usually on a company’s mind when making this incremental change is uptime and downtime, standard measures of machine or line performance. Beyond this initial agreement, however, global brands and niche players often have particular ways of quantifying these measures and identifying the responsible sources of data.
Part of the challenge is the sheer number of software applications that promise to help improve some aspect of production. By not starting with the bigger picture of how a facility is performing, actual improvements might not have the impact that is expected.
One solution includes monitoring overall equipment effectiveness (OEE) in a performance dashboard. By creating OEE reports that can establish baselines, users can begin to digest their data in order to take action.