Downtime Tracking: Real-Time Data, Real-Time Problem Solving
According to one recent study , the average cost of a downtime incident in the manufacturing world comes in at about $17,000. This figure includes not only the cost to repair the equipment itself, but other important factors like lost productivity and more. Of course, there are certain industries where that number is considerably higher - in the automotive sector, for example, that number can climb to an enormous $50,000 per minute in certain conditions. All told, manufacturers across the board experience an average of about 800 downtime hours every single year according to one estimate . But the critical thing to understand is that it certainly doesn't have to be this way - and all of this is exactly what downtime tracking software is designed to prevent. At their core, downtime tracking solutions like Thrive allow you to instantly begin tracking these events from any machine on a factory floor. More than that, they allow you to define a reason for such ev...