Method and system for generating, processing and displaying an indicator of performance of an injection molding machine

A method of operating a molding system, the method executable by a controller of the molding system, the method comprising:

• monitoring, using one or more monitoring devices, a plurality of operational parameters associated with performance of the molding system, wherein the operational parameters comprise machine variables detectable by the molding system;
• based on at least a subset of the plurality of operational parameters, generating a machine performance index, the machine performance index being a single value representative of the at least a subset of the plurality of operational parameters and being instrumental in enabling an operator of the molding system to appreciate an economic productivity factor associated therewith, wherein the machine performance index is generated as a ratio such that operational parameters having increasing value with increasing numeric count are in the numerator of the ratio and operational parameters having increasing value with decreasing numeric count are in the denominator of the ratio;
• obtaining a target performance index associated with the molding system, the target performance index being an indicator of desired performance level of the molding system;
• normalizing the machine performance index in accordance with a scale comprising a plurality of zones, each zone defining a performance value;
• and
• displaying, via a user interface associated with the molding system, a graphical representation of the normalized machine performance index, the graphical representation including a graphical indicator showing a current level of the normalized machine performance index as a percentage of the target performance index, the percentage of the target performance index comprising one of the plurality of zones.