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KPI information boards. A performance indicator or key performance indicator (KPI) is a type of performance measurement. [1] KPIs evaluate the success of an organization or of a particular activity (such as projects, programs, products and other initiatives) in which it engages. [2]
This feature is very important for products that have expensive maintenance. Serviceability is defined by speed, courtesy, competence and ease of repair." [9] Customers want products that are quickly and easily serviceable. [11] Perceived quality, which may be affected by the high price or the good aesthetics of a product.
use of visuals over the tabular presentation of data; bar charts: to visualize one or more series of data; line charts: to track changes in several dependent data sets over a period of time; sparklines: to show the trend in a single data set; scorecards: to monitor KPIs and trends; use of legends anytime more than one color or shape is present ...
Optimal maintenance is the discipline within operations research concerned with maintaining a system in a manner that maximizes profit or minimizes cost. Cost functions depending on the reliability , availability and maintainability characteristics of the system of interest determine the parameters to minimize.
Overall labor effectiveness (OLE) is a key performance indicator (KPI) that measures the utilization, performance, and quality of the workforce and its impact on productivity. Similar to overall equipment effectiveness (OEE), OLE measures availability, performance, and quality.
Reliability-centered maintenance (RCM) is a concept of maintenance planning to ensure that systems continue to do what their users require in their present operating context. [1] Successful implementation of RCM will lead to increase in cost effectiveness, reliability, machine uptime, and a greater understanding of the level of risk that the ...
Image source: The Motley Fool. Diamondback Energy (NASDAQ: FANG) Q3 2024 Earnings Call Nov 05, 2024, 9:00 a.m. ET. Contents: Prepared Remarks. Questions and Answers. Call Participants
Overall equipment effectiveness [1] (OEE) is a measure of how well a manufacturing operation is utilized (facilities, time and material) compared to its full potential, during the periods when it is scheduled to run.