Reduce equipment downtime by up to 26%
The average cost of downtime in automotive manufacturing is $22,000 per minute and with an average outage lasting 4 hours, downtime quickly becomes one of the most costly parts of a business.
Unplanned downtime causes a loss of customer trust
46% of companies surveyed
couldn’t deliver services to customers due to a downtime event during the last 12 months
37% of companies surveyed
lost production time on a critical asset due to a downtime event during the last 12 months
29% of companies surveyed
were totally unable to service or support specific equipment or assets due to a downtime event during the last 12 months
How downtime impacts your business
Operations and maintenance is often cited as the most controllable cost within a business. However, over 82% of companies surveyed mentioned that they’ve experieced some amount of unplanned downtime over the last 3 years. And each outage lasted on average 4 hours and cost $2 million per occurrence.
Additionally, over 70% of companies aren’t aware, or aren’t even tracking when assets are due for preventative maintenance. Knowing when your assets and equipment are due for maintenance can help reduce unplanned downtime and prevent asset faillures.
Industry experts have said that almost all factories lose at least 5% of their optimal productivity due to downtime, and often times lose up to 20% of their overall efficiency.
Up to 80% of facilities aren’t tracking or are inaccurately tracking the true cost of downtime.
Using a CMMS can help companies reduce downtime, and help correctly calculate the true cost of downtime, both planned and unplanned.
Reduce your equipment downtime today.
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