Downtime costs the world’s top companies billions in revenue every year. One report goes so far as to say businesses lose $84,000 to $108,000 USD for every hour of IT system downtime. Manufacturing is no exception.
For anyone who is responsible for managing a manufacturing operation, the thought of a major breakdown event is enough to send your stress levels skyrocketing.
Having spare parts on hand is a crucial aspect of manufacturing maintenance, as every plant needs to carry a certain amount of spares to be able to recover in the event of a failure.
It’s widely agreed that equipment criticality ratings (ECR), also sometimes known as machine criticality ratings (MCR), are an important part of designing and setting manufacturing maintenance priorities.
Equipment failure costs businesses millions of dollars annually, and can even have consequences on the future of the business, as plant operators can be so busy trying to repair equipment and get it back up and running that they miss opportunities for improvements that help future-proof production.
The ever-increasing utilisation of big data is revolutionising the way Australian manufacturing companies do business. Today’s manufacturers are using advanced analytics to increase yields and reduce costs, with data analysis delivering insights which allow companies to improve process performance and streamline their operations.
Few things eat into manufacturing profitability as significantly as unplanned downtime incidents.
Times are hard for the manufacturing industry. As we know well, the Australian manufacturing sector of the future will feature specialised, innovative companies that recognise the importance of productivity and efficiency.
2G services, having operated for more than 20 years, are widely found within industrial equipment, like smart meters and other devices which transmit very small amounts of data. If your equipment relies upon this type of device, migrating to an IP based wireless device will no doubt be high on your business agenda right now.
