The latest annual data for the UK manufacturing industry, collected by Make UK before the coronavirus pandemic, shows the sector accounts for £191 billion of output, placing us in the Top 10 largest manufacturers in the world. The only way to keep up with such fierce competition is by monitoring key performance indicators (KPIs) and optimising manufacturing operations.
What are Manufacturing KPIs?
Manufacturing Key Performance Indicators (KPIs) are a way of measuring a manufacturing business’ performance over time in order to achieve overall business goals. These measurements can be analysed to make smart changes to manufacturing operations that ultimately come together to improve the business’s bottom line.
But just what are these KPIs? In the below article we outline the 6 manufacturing KPI’s for operations management namely;
Operational Equipment Effectiveness (OEE)
Overall Labour Effectiveness
Scrap Rates
Right First Time / First Pass Yield
On-Time In Full (OTIF)
Non-Conformance
Choosing the right technology to measure and manage KPIs for your business can be the difference between success and failure as that directly impacts time and money.
About TotalControlPro®
With a clear focus on Product, People and Process, TotalControlPro® helps manufacturers manage operations effectively.
TotalControlPro® brings real-time cloud-based AI/Machine Learning technology to manufacturers via a simple modular and agile Smart Manufacturing platform – a disruptive subscription-based platform that delivers smart work planning, execution, process control, inventory management and real-time performance reporting. Right resources at the right place, at the right time, doing the right task, against the right job.
In addition, we do not charge upfront set-up costs but invest our services into a long-term monthly SAAS agreement so you can focus on your business and maximise your ROI.
To read the full article, click here ->> https://bit.ly/3COIgjN
