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Overall Equipment Effectiveness
Overall Equipment Effectiveness (OEE) is a measure of how well a manufacturing operation is utilized (facilities, time and material) compared to its full potential, during the periods when it is scheduled to run. It identifies the percentage of manufacturing time that is truly productive. An OEE of 100% means that only good parts are produced (100% ''quality''), at the maximum speed (100% ''performance''), and without interruption (100% ''availability''). Measuring OEE is a manufacturing best practice. By measuring OEE and the underlying losses, important insights can be gained on how to systematically improve the manufacturing process. OEE is an effective metric for identifying losses, bench-marking progress, and improving the productivity of manufacturing equipment (i.e., eliminating waste). The best way for reliablOEE monitoring is to automatically collect all data directly from the machines. Total Effective Equipment Performance (TEEP) is a closely related measure which quant ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Manufacturing
Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of secondary sector of the economy. The term may refer to a range of human activity, from handicraft to high-tech, but it is most commonly applied to industrial design, in which raw materials from the primary sector are transformed into finished goods on a large scale. Such goods may be sold to other manufacturers for the production of other more complex products (such as aircraft, household appliances, furniture, sports equipment or automobiles), or distributed via the tertiary industry to end users and consumers (usually through wholesalers, who in turn sell to retailers, who then sell them to individual customers). Manufacturing engineering is the field of engineering that designs and optimizes the manufacturing process, or the steps through which raw materials are transformed into a final p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heuristic
A heuristic (; ), or heuristic technique, is any approach to problem solving or self-discovery that employs a practical method that is not guaranteed to be optimal, perfect, or rational, but is nevertheless sufficient for reaching an immediate, short-term goal or approximation. Where finding an optimal solution is impossible or impractical, heuristic methods can be used to speed up the process of finding a satisfactory solution. Heuristics can be mental shortcuts that ease the cognitive load of making a decision. Examples that employ heuristics include using trial and error, a rule of thumb or an educated guess. Heuristics are the strategies derived from previous experiences with similar problems. These strategies depend on using readily accessible, though loosely applicable, information to control problem solving in human beings, machines and abstract issues. When an individual applies a heuristic in practice, it generally performs as expected. However it can alternatively cre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
SPAM
Spam may refer to: * Spam (food), a canned pork meat product * Spamming, unsolicited or undesired electronic messages ** Email spam, unsolicited, undesired, or illegal email messages ** Messaging spam, spam targeting users of instant messaging (IM) services, SMS or private messages within websites Art and entertainment * Spam (gaming), the repetition of an in-game action * "Spam" (Monty Python), a comedy sketch * "Spam", a song on the album ''It Means Everything'' (1997), by Save Ferris * "Spam", a song by "Weird Al" Yankovic on the album ''UHF – Original Motion Picture Soundtrack and Other Stuff'' * Spam Museum, a museum in Austin, Minnesota, US dedicated to the canned pork meat product Other uses * Smooth-particle applied mechanics, the use of smoothed-particle hydrodynamics Smoothed-particle hydrodynamics (SPH) is a computational method used for simulating the mechanics of continuum media, such as solid mechanics and fluid flows. It was developed by Gingold and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Total Productive Maintenance
Total Productive Maintenance (TPM) started as a method of physical asset management focused on maintaining and improving manufacturing machinery, in order to reduce the operating cost to an organization. After the PM award was created and awarded to Nippon Denso in 1971, the JIPM (Japanese Institute of Plant Maintenance), expanded it to include 8 pillars of TPM that required involvement from all areas of manufacturing in the concepts of lean Manufacturing. TPM is designed to disseminate the responsibility for maintenance and machine performance, improving employee engagement and teamwork within management, engineering, maintenance, and operations. There are eight types of pillars TPM: # focused Improvements # JH Pillar (Autonomous Maintenance) # PM pillar (Planned Maintenance) # QM pillar (Quality Maintenance) # DM pillar (Development Maintenance) # E&T pillar (Education and Training) # OTPM (Office TPM) # SHE Pillar (Safety, Health and Environment) History Total Productive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Overall Labor Effectiveness
Overall labor effectiveness (OLE) is a key performance indicator (KPI) that measures the utilization, performance, and quality of the workforce and its impact on productivity. Similar to overall equipment effectiveness (OEE), OLE measures availability, performance, and quality. * Availability – the percentage of time employees spend making effective contributions * Performance – the amount of product delivered * Quality – the percentage of perfect or saleable product produced OLE allows manufacturers to make operational decisions by giving them the ability to analyze the cumulative effect of these three workforce factors on productive output, while considering the impact of both direct and indirect labor. OLE supports Lean and Six Sigma methodologies and applies them to workforce processes, allowing manufacturers to make labor-related activities more efficient, repeatable and impactful. Measuring availability There are many factors that influence workforce availability ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sensitivity Analysis
Sensitivity analysis is the study of how the uncertainty in the output of a mathematical model or system (numerical or otherwise) can be divided and allocated to different sources of uncertainty in its inputs. A related practice is uncertainty analysis, which has a greater focus on uncertainty quantification and propagation of uncertainty; ideally, uncertainty and sensitivity analysis should be run in tandem. The process of recalculating outcomes under alternative assumptions to determine the impact of a variable under sensitivity analysis can be useful for a range of purposes, including: * Testing the robustness of the results of a model or system in the presence of uncertainty. * Increased understanding of the relationships between input and output variables in a system or model. * Uncertainty reduction, through the identification of model input that cause significant uncertainty in the output and should therefore be the focus of attention in order to increase robustness (perhap ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk
In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. Many different definitions have been proposed. The international standard definition of risk for common understanding in different applications is “effect of uncertainty on objectives”. The understanding of risk, the methods of assessment and management, the descriptions of risk and even the definitions of risk differ in different practice areas (business, economics, environment, finance, information technology, health, insurance, safety, security etc). This article provides links to more detailed articles on these areas. The international standard for risk management, ISO 31000, provides principles and generic guidelines on managing risks faced by organizations. Definitions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Net Present Value
The net present value (NPV) or net present worth (NPW) applies to a series of cash flows occurring at different times. The present value of a cash flow depends on the interval of time between now and the cash flow. It also depends on the discount rate. NPV accounts for the time value of money. It provides a method for evaluating and comparing capital projects or financial products with cash flows spread over time, as in loans, investments, payouts from insurance contracts plus many other applications. Time value of money dictates that time affects the value of cash flows. For example, a lender may offer 99 cents for the promise of receiving $1.00 a month from now, but the promise to receive that same dollar 20 years in the future would be worth much less today to that same person (lender), even if the payback in both cases was equally certain. This decrease in the current value of future cash flows is based on a chosen rate of return (or discount rate). If for example there exists ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Efficiency
Efficiency is the often measurable ability to avoid wasting materials, energy, efforts, money, and time in doing something or in producing a desired result. In a more general sense, it is the ability to do things well, successfully, and without waste. In more mathematical or scientific terms, it signifies the level of performance that uses the least amount of inputs to achieve the highest amount of output. It often specifically comprises the capability of a specific application of effort to produce a specific outcome with a minimum amount or quantity of waste, expense, or unnecessary effort. Efficiency refers to very different inputs and outputs in different fields and industries. In 2019, the European Commission said: "Resource efficiency means using the Earth's limited resources in a sustainable manner while minimising impacts on the environment. It allows us to create more with less and to deliver greater value with less input." Writer Deborah Stone notes that efficiency is " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statistical Variability
In statistics, dispersion (also called variability, scatter, or spread) is the extent to which a distribution is stretched or squeezed. Common examples of measures of statistical dispersion are the variance, standard deviation, and interquartile range. For instance, when the variance of data in a set is large, the data is widely scattered. On the other hand, when the variance is small, the data in the set is clustered. Dispersion is contrasted with location or central tendency, and together they are the most used properties of distributions. Measures A measure of statistical dispersion is a nonnegative real number that is zero if all the data are the same and increases as the data become more diverse. Most measures of dispersion have the same units as the quantity being measured. In other words, if the measurements are in metres or seconds, so is the measure of dispersion. Examples of dispersion measures include: * Standard deviation * Interquartile range (IQR) * Range * Mean ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Geometric Mean
In mathematics, the geometric mean is a mean or average which indicates a central tendency of a set of numbers by using the product of their values (as opposed to the arithmetic mean which uses their sum). The geometric mean is defined as the th root of the product of numbers, i.e., for a set of numbers , the geometric mean is defined as :\left(\prod_^n a_i\right)^\frac = \sqrt /math> or, equivalently, as the arithmetic mean in logscale: :\exp For instance, the geometric mean of two numbers, say 2 and 8, is just the square root of their product, that is, \sqrt = 4. As another example, the geometric mean of the three numbers 4, 1, and 1/32 is the cube root of their product (1/8), which is 1/2, that is, \sqrt = 1/2. The geometric mean applies only to positive numbers. The geometric mean is often used for a set of numbers whose values are meant to be multiplied together or are exponential in nature, such as a set of growth figures: values of the human population or inter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Focused Improvement
Focused improvement in the theory of constraints is an ensemble of activities aimed at elevating the performance of any system, especially a business system, with respect to its goal by eliminating its constraints one by one and by ''not'' working on non-constraints. Focused improvement can also be defined in simpler terms as a process that identifies the systems problems and then modifies the whole system in order to find the most cost effective, time saving and least disruptive solutions in order to optimize the system. "Focused Improvement is the process of applying systematic problem solving methods to manufacturing. The process relies on aligning the correct method to the correct scenario". Development and Apparition Focused improvement was developed as a working part of the Theory of Constraints management philosophy by Eliyahu M. Goldratt in his 1984 book titled ''The Goal ''The Goal'' is a management-oriented novel by Eliyahu M. Goldratt, a business consultant know ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
