Downtime is expensive and extremely damaging to manufacturers. Studies have shown that it costs industrial manufacturers an estimated $50 billion annually. In the automotive industry alone, it’s estimated that 1 minute of downtime costs manufacturers $22,000 per minute or $1.3 million per hour.
Every time your machines are not working, there’s a big chance you’ll lose a lot of revenue. Without an effective strategy to reduce downtime, these losses can quickly add up and severely affect your business. This infographic shares five simple tips you can use to ensure your manufacturing facility isn’t affected by unplanned downtime.