Performance Prediction through OEE-Model

Prediction of an organization’s performance has become essential for any organization for its potential customers to place orders with confidence. Overall Equipment Effectiveness (OEE) is one of the acknowledged measures for performance monitoring. In this paper, two different techniques, a simple m...

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Bibliographic Details
Published inIJIEM. International Journal of Industrial Engineering and Management (Online) Vol. 11; no. 2; pp. 93 - 104
Main Authors Anusha, Chintada, Umasankar, Venkata
Format Journal Article
LanguageEnglish
Published Novi Sad University of Novi Sad 01.06.2020
University of Novi Sad, Technical faculty Mihajlo Pupin, Zrenjanin
University of Novi Sad, Faculty of Technical Sciences
Subjects
Error analysis
holt’s double exponential smoothing
losses
overall equipment effectiveness
Performance prediction
Predictive analytics
simple moving average
Smoothing
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Summary:Prediction of an organization’s performance has become essential for any organization for its potential customers to place orders with confidence. Overall Equipment Effectiveness (OEE) is one of the acknowledged measures for performance monitoring. In this paper, two different techniques, a simple moving average and Holt’s double exponential smoothing methods, are used to evaluate OEE and to predict the future performance of overall equipment effectiveness in R studio. Holts Double exponential smoothing method was found to result in minimum error measured by mean absolute deviation. Python program is to predict major losses to improve the productivity of the organization by management.
ISSN:2217-2661
2683-345X
DOI:10.24867/IJIEM-2020-2-256