OEE opportunity calculator demonstrated at Pack Expo
AIOE’s overall equipment effectiveness (OEE) calculator is a tool to help manufacturers identify opportunity for improvement and evaluate ROI on OEE initiatives.
The Alliance for Innovation and Operational Excellence (AIOE) demonstrated the overall equipment effectiveness (OEE) opportunity calculator during Pack Expo 2014 in Chicago on Monday, Nov. 3. The opportunity calculator is a tool to identify opportunities for improvement, develop project pipelines, and track progress.
Steve Schlegel, managing director at AIOE, indicated that OEE has been the most broadly adopted measurement tool and key performance indicator for many companies engaging in a continuous improvement initiative.
However, companies spending large amount of money on improving OEE sometimes find it hard to justify their investment due to the lack of ROI evaluation and the continuous tracking on performances and costs.
"OEE improvement is an practice of intentional collaboration between engineers, operations, sustainability department, workforce development, and more. Without clear calculation and goal, it is hard to establish operational reliability for the OEE project," Schlegel said.
The AIOE OEE calculator allows users to generate an estimate of potential savings on a production line as a result of OEE improvements. This can help companies determine if OEE measurement and improvement activities will deliver adequate payout to justify the effort and cost.
- Joy Chang, digital project manager, CFE Media, email@example.com
See other stories from Pack Expo below.