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The Cost of Downtime

 The Cost of Downtime

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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