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.