Several experts answered some technical issues, including the importance of engineering economy, implementing of an overall equipment effectiveness (OEE) metric in bulk, and tool for lean cornerstone. Joseph Hartman said engineering economy provides the necessary tools for engineers to analyze the financial implications of their projects. Learning about engineering economics also provides the engineer an opportunity to learn the language of economics, finance, and accounting. According to Merwan Mehta, OEE is fantastic tool, but like all tools, the application has to be right or else it becomes a burden to operate the tool just for the sake of it. The major advantage of OEE is that you can make comparisons and benchmark with your peer groups if the application is right. Beth Cudney said 5S is the cornerstone of lean. It builds a foundation for a company to deliver high-quality products and services in the right quantity at the right time to satisfy and exceed customer requirements.
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