Every manufacturing operation wants to avoid downtime; with downtime comes unforeseen costs and losses to a company’s bottom line. Take a look at some of the statistics and costs related to downtime in the manufacturing sector.
When Down-Time is Not an Option.
THE REAL COST OF DOWNTIME
Almost every factory loses at least 5% of its productive capacity from downtime and many can even lose up to 20% – Interstates
In the manufacturing sector, the average hourly cost of IT downtime is $1.6 million
– Vision Solutions
In 2006, automotive executives indicated that stopped production cost — on average — $22,000 per minute, and in some cases much more.
– Advanced Technology Services
Efforts to reduce operation downtime routinely have a high probability of success. It is possible to achieve a 50-75% reduction with as much as 75% probability of success
– Epicor
To be considered as a world-class level operation in efficiency, 85% Overall Equipment Effectiveness (OEE) must be maintained. However, most manufacturers have an OEE score of approximately 60% due to issues such as machine downtime. – Inductive Automation.
As presented by IMPO – August 2015 issue
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