For each minute of unexpected downtime, your annual revenue can be severely impacted. The cost of downtime is different for every facility. But no matter the cost, unexpected downtime puts organizations in serious risk. In the moments where production lines are not moving, units are not produced and in turn are not sold, resulting profits lost.
– Let’s take a look at how your annual revenue could be impacted:
Your employees are your most valuable asset. Most manufacturing employees rely on machinery, networks and applications to do their job. In the event of unexpected downtime, employee productivity can come to a halt - but the cost associated with these employees remains fixed. The average worker loses 38 hours every year due to downtime, equivalent to a full work week where employees are paid with no output.
- Let’s see how your employees can be affected:
When restoring operations requires repairs, downtime can be extended while the right message gets to the right people. Sometimes the right people are off site - at another facility, on vacation, or engaged in another project. What if the necessary materials are not onsite? What if the issue requires outside specialists to resolve? (The true cost of a machine breakdown has been estimated as between four to 15 times the maintenance costs.)
– How are repairs affecting your downtime cost?