The nice folks at Thomasnet's Tech Trend Journal, specifically Al Bredenberg, wrote a very nice article titled:
Next-Gen Financial Analytics Drive Manufacturing Into Profitablity
The article starts out with the premise of FOEE:
"Yet another benefit emerging from the new technology-enabled shop floor is the power to apply financial analytics to manufacturing operations, equipping decision-makers with the visibility they need to improve profitability.
This kind of capability can be called financial overall equipment effectiveness (FOEE), according to David McPhail and Dave Edstrom, the respective CEO and CTO of Ontario-based Memex Automation. FOEE builds on the standard OEE metric, calculated by multiplying availability, quality, and performance. However, adding the financial dimension helps answer the all-important question of whether the company is making money."