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OEE (Overall Equipment Effectiveness) is a metric based on the concept of "six big losses", categorised into three areas of availability ,performance and quality. It helps you to determine which category is responsible for the degradation of production efficiency/effectiveness.
OEE stands for overall equipment effectiveness. It is the product of three percentages:
1) Machine Uptime %
2) Schedule attainment %
3) And yield %
It fundamentally answers three questions:
Is the machine running?
Is the machine running at the right speed?
Is the machine outputting good quality product?
performance and Quality.