The Metal forming industry is a complex industry that involves the manufacturing of metal products using various forming techniques, such as forging, rolling, extrusion, and stamping. To monitor the productivity of assets in this industry, some key performance indicators (KPIs) that can be useful include:
Production efficiency: This KPI measures the efficiency of the production process in terms of output per unit of time. It can be calculated by dividing the total output by the total hours worked.
Downtime: This KPI measures the amount of time that production equipment is unavailable due to breakdowns, maintenance, or other issues. Reducing downtime can improve productivity and profitability.
Cycle time: This KPI measures the time it takes for a product to go through the entire manufacturing process, from raw materials to finished product. Shorter cycle times can increase production capacity and efficiency.
Scrap rate: This KPI measures the amount of waste or defective products produced during the manufacturing process. Reducing scrap rates can increase profitability and efficiency. Read more....
Source Link:- https://www.inteliiot.com/blogs/digitization-in-metal-forming-industry/
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