May 2006

Special Report: Maintenance/Reliability

Money-based overall equipment effectiveness

Use this method to identify, prioritize and quantify inefficiencies

Goti, A., University of Mondragon; Juric, Z., Mantecnologia, Plant Engineering; Sanchez, A., Polytechnich University of Valencia, Department of Statistics and Operational Research

Management requires performance information to be able to control the process it manages. Measurement plays a key role in an organization's long-term profitability and has increasingly become a part of a total performance approach, together with other topics such as productivity, quality, safety and environment. Measuring is necessary to improve, and both the academic and managerial arenas are increasingly interested in the subject of performance measurement. This is due to the broadening spectrum of performances required by the competitive environment and the new production paradigm known as lean production or world-class manufacturing. Within performance improvement programs, such as jus

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