Perhaps a cleaner and more readily understood approach is to use the concept of Overall Equipment Effectiveness (OEE). OEE is the product of performance (usually speed), availability, and yield. If you’re 100 products per minute versus a best demonstrated of 150, 22 hours of uptime versus 24 hours available, and 95% yield your OEE would be …
(100/150)(22/24)(0.95) = 0.58
That means your system is 58% effective versus what it could be. I often describe manufacturing as having 3 knobs: performance, availability, and yield. To the extent I improve any of 3, I improve my efficiency and subsequent product output.
Hope that helps …
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