Overall Equipment Effectiveness or Efficiency (OEE) is usually interpreted as Overall Equipment Effectiveness. It measures the percentage of manufacturing time during which a manufacturing asset is truly productive. To score 100%, this means no down time, no parts made which do not conform to specification, and a production rate which is the full potential of the asset.
OEE is also expanded to Overall Equipment Efficiency – specialists will say this is Overall Equipment Effectiveness achieved with minimum resources, but in many environments the two versions are used interchangeably.