Why Your Current
Maintenance Strategy
is Costing You Millions
And what other facilities like
yours are doing about it
www.aceelectricmotor.com
Why Your Current
Maintenance Strategy
is Costing You Millions
And what other facilities like
yours are doing about it
www.aceelectricmotor.com
The success of your operation
depends on machinery.
And machinery inevitably
breaks down.
To get an idea of the expense, consider the cost to fix the
equipment, the loss in revenue, and employee wages while
they sit idle. Sometimes there’s even necessary overtime to
factor in.
One survey found that downtime costs amount to nearly
one quarter of the total cost of manufacturing.
Downtime costs
companies big time!
Meanwhile the typical downtime costs to industrial
manufacturers is between $30,000 and $50,000 per hour, with
some estimates ranging to $260,000 an hour.
Mӓlardalen University
Aberdeen
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Not only is downtime
expensive, it’s inevitable.
One survey found that 82% of the
companies interviewed experienced at least
one unplanned downtime incident over the
past three years
Most suffered two or more.
Source: Servicemax
Aging machinery is often to blame. But one
study of the manufacturing field found that
HUMAN ERROR causes nearly one quarter
(23%) of unplanned downtime.
That's 2.5x higher than in other sectors.
Source: ServiceMax and Vanson Bourne
According to a 2021 survey featured in Plant
Engineering, 52% of respondents rely on reactive
maintenance or run-to-fail.
This means most maintenance managers are in
reactive mode all the time, constantly dealing
with one machine issue after the next.
They are almost always behind and never quite
catch up before the next emergency.
It's no wonder human error is such a problem.
Source: Plant Engineering