There are many benefits to using OEE for your business, no matter if you run a relatively small operation or one stretching across the UK. Companies often make large investments into their machinery and must reach the highest possible return on investment (ROI) for each year and will do whatever they may to achieve such a goal cost-effectively. The point of OEE is precisely that, allowing you to push your profits to the maximum so that you may quickly replenish your investment with interest and then continue to see those annual returns in the form of minimal costs and machine repairs.
“Competitive prices” is a phrase referring to the cost of a product as compared to another company selling a similar product over time. Each company will do whatever is possible to cut production costs and reduce labour so that the product may be sold at the lowest cost possible without affecting profit margins. This competition is easier for you to maintain with OEE systems because you may keep up with the productivity of your machines and take actions quickly to keep production times at a maximum. It may be that your machines are capable of producing 100 products per line, per hour, but they are only producing 60 due to poor maintenance. An OEE system will help you catch this issue.
Defective products have high associated costs and these are one of the largest and most common causes of economic loss around the world. Combining OEE with existing technology will gain you increased effectiveness in traceability systems, which you may then use to find the source of any decline in quality throughout your production or work environment. This is your chance to effectively minimise repetition and any products with defects while helping you to generate enormous cost savings in the long run.
Only the work that you measure may be improved and managed over time and it is imperative that you know whether it is possible to make your production process more efficient. The OEE will allow the quantification of your efficiency over time and help you to make the best decisions about your company as a whole based on the information gathered. OEE is a system utilised by companies all over the world for this very reason and this is why you may not be able to afford the annual profits missed due to letting this option pass by you.
When using reliable, real-time data collection, you get the chance to inform your plant personnel as to their productivity at work so that you may make positive decisions to improve their actions over time. OEE will provide information on the origin of production losses in high detail, allowing you to not only gauge the productivity of your machines and equipment but also that of your employees. Employee engagement and retention are two of any company’s most important priorities and taking the steps to improve both work output and the environment in which your workers do their duties will improve both over the long run and encourage company loyalty.