Consider a troublesome piece of equipment, or a case human error on some process. How many days did failures occur in the last 12 months? Now estimate the percentage impact of the failure on total daily production output:
failure days; % reduction in daily production output. The equivalent lost production time: hours.
For each million dollars in annual revenue, a one-shift factory operating 260 days/year, produces goods at an average rate of $3800/day. Taking your factory's annual revenue, use the below chart to find the financial loss due to the above equipment/process's down time:
| Factory Annual Revenue ($M) | |
|---|---|
| Revenue Loss($) | |
| $2.5M | $14,423 |
What if your team could install a device for under $1000 in just 30 minutes to remotely monitor each of your critical equiment/processes? Each installation would pay for itself if it saved even a single production hour! And every hour saved after that flows right to your bottom line....