| |April, 20229and Availability. Mathematically, we calculate it as follows:OEE = A X P X Q {A (Availability) = Run Time/Planned Production Time; Run Time = Planned Production Time - Stop Time;P (Performance) = (Ideal Cycle Time x Total Count)/Run Time;Q (Quality) = Good Count/Total Count}Now, OEE has established itself as the gold standard in machine effectiveness because of its practical utility. It illuminates holes in the manufacturing process and helps mitigate underlying losses by delivering valuable insights. Until recently, tracking OEE was thought of as a task allocated to the end of the production cycle. However, with advancements in IoT and the emergence of Industry 4.0, monitoring OEE has become a real-time pursuit. Here are some reasons why that's a revolutionary development: PREDICTIVE ANALYTICS MINIMISE PLANNED & UNPLANNED DOWNTIMEWhen working with intricate machin-ery, the risk of equipment or parts fail-ure is ever-present. Unplanned down-time of this sort lasts the longest and thereby proves hyper-expensive. Before the age of IoT, equipment monitoring required scheduled maintenance checks (which disrupted operations). However, machine learning algorithms can help manufacturers attain cog-nisance about patterns that usually spawn before failures. This can have a tremendously positive effect on reduc-ing Mean Time to Repair and soften the blow incurred by downtime. Even regu-lar maintenance gets streamlined with IoT sensors. They help increase asset visibility and allow manufacturers to schedule repairs in tandem with equip-ment conditions. In the past, manufac-turers only had the option to impose guestimate-driven planned downtime. REAL-TIME SENSORS HELP REDUCE MINOR STOPS & SPEED INEFFICIENCIES Inefficiencies in the manufacturing process extend beyond big issues that demand downtime. Minor stops affect performance and thereby contribute to a lower OEE score. Thanks to real-time IoT sensors, dealing with minor stops and speed inefficiencies can be more effective than ever. Moreover, manufacturers forget that minor stops can pile up and give rise to alarming failures. Herein, IoT can help shine the light on recurring issues. Then, manufacturers can exercise positive intervention before issues snowball. All in all, IoT helps keep real-time tabs on performance and thus contributes to a higher OEE score. IoT DELIVERS INSIGHTS VALUABLE FOR OVERALL PROCESS IMPROVEMENT So far, we've discussed how IoT can help manufacturers improve OEE by making tweaks in the domains of performance and availability. Now, let's dive into how IoT tech can contribute to improved manufacturing quality. In industrial settings, even minor changes like temperature variance and humidity levels can affect production standards. Thanks to environmental sensors and real-time equipment monitoring, manufacturers can drill down root causes of quality degradation over time. Quite obviously, the data analysis capabilities made possible by IoT will make hefty positive contributions here. CONCLUSION With Industry 4.0 set to surpass the $300 billion mark by 2023, IoT and OEE will remain deeply tangled for years to come. After all, the ever-evolving capabilities that the amalgamation of MI, AI, and IoT bring to the table are unparalleled. To close off, we wouldn't be surprised if a 100 percent OEE score becomes the industry standard in a decade or so. That's what we're hoping for anyway. When working with intricate machinery, the risk of equipment or parts failure is ever-present. Unplanned downtime of this sort lasts the longest and thereby proves hyper-expensive
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