OLE: Overall Labor Effectiveness
Businesses, it is frequently said, run on data. From targeting specific audiences for online advertisements to running sophisticated cost comparisons, contemporary businesses crunch a lot of data to maximize profits. Much of that data comes from within the company itself, as the performance of salesmen, marketing departments, and managers is tracked and subsequent adjustments to strategy or personel is made. In the manufacturing sector, it is common (even necessary) to carefully track the performance of equipment. A program for doing this is called OEE, or Overall Equipment Effectiveness. An OEE program helps provide the management with valuable hard data on...
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