Manufacturing Downtime Calculator
(Follow this link to dicover what one minute is costing you.)
Advances in manufacturing technology and data intelligence have greatly
improved time to market, increased output and reduced operating costs.
For manufacturers, this means you can do more with less, manufacturing
and delivering goods at a speed unimaginable just 10 years ago. But the
more dependent operations are on technology, the higher the risk of
downtime. When deadlines and profitability are at stake, do you know
what one minute of downtime is costing you?
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.
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.
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.)
