OEE is the term used for measuring manufacturing productivity
To calculate that percentage of time an equipment is truly productive
There are 3 factors for calculating OEE
These are Availability, Performance & Quality
Availability is the percentage of time an equipment is available for production
Performance is the production of an equipment as per cycle time.
Quality is the percentage of good quality products produced out of total production
OEE = Availability x Performance x Quality
85% OEE is considered as world class
For more information about OEE, click below link