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Asset Management Increases Effectiveness of Equipment Metrics

February 6, 2017

The equipment in any building is often the main part of what keeps it running. In fact, other than the staff, the equipment you use most likely runs the entire building.  This is why it is of the utmost importance to understand how effective your equipment is running and have a good idea of the metrics of your equipment's overall performance.

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Your overall equipment effectiveness is measured in three sectors: Performance, availability, and quality.

Process Rate

Performance, in the way your equipment is producing or known as your process rate. If your equipment is not performing at optimal speed, how much waste are you producing? Here is the formula to use: 

“You multiply the number of parts produced by the ideal cycle time, or standard rate to produce parts, and divide the product by the total operating time. If the standard rate of a part being produced is 1.5 minutes per unit and your facility produces 242 total units during the shift, this results in a production time of 363 minutes. Divide that by the running time of our previous availability example and the result is a 93% productivity rate.”

 

Availability

Availability is calculated by simply divide your actual operating time by the time you had planned to operate. This sector represents the percentage of scheduled time that the operation is available to operate. Basically, it is a clean measurement of up-time that’s not effected by the said other component.  

 

Quality

Last, but not least, there is quality. Now while this is self-explanatory, you simply subtract the number of defective units from the number of units produced and divide the result by units produced.

 

The Numbers Are Never Wrong

Once you have the numbers from all three sectors or metrics, how you get your overall equipment effectiveness or OEE is by multiplying the three numbers together. Obviously, the higher the number, the better your results.

 

Read More:  Keep Track of Expensive Equipment

 

Make sure along with keeping up with your OEE that you manage your assets with a CMMS program's asset management component. It allows you to keep up with repairs, purchase dates, makes, models, year, and more to ensure that you always know everything you need about your equipment.

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Topics: asset management