O'PEEP'S OEE EXPLANATION
You need cement and that's why you rented a cement mixer. You pay the rent per hour. You are paying also if the cement you mix is bad. You pay if you take a half-hour coffee break in between and turn the thing off. You pay the same if you set the mixer to half speed and produce cement more slowly. If you have to fetch new material or tighten screws in between - you pay for the equipment. Overall Equipment Effectiveness (OEE) would be a good metric for you to produce as much cement as possible in as little time as possible.
OEE (Overall Equipment Effectiveness) is a Lean Metric that compares the potential machine performance to the actual performance. It is the product of three factors: Availability, Performance, and Quality.
OEE = Availability [%] x Performance [%] x Quality [%]
OEE is an expression for the productivity of your equipment.
The three terms express: how long the equipment was up and running (availability), at which speed the equipment was running compared to the maximum (performance), and how many of the produced units were good compared to the total of units produced (quality).
You can calculate OEE by dividing what has been produced by what was theoretically possible. This is the simplest way to calculate OEE.
Depending on the calculation of the machine availability, OEE 1 and OEE 2 can be distinguished: