The financial burden of downtime is concerning for any business, but for manufacturing firms, it is one of the most critical issues faced and poses a significant threat to the bottom line. That is why many manufacturers are looking for ways to minimize downtime. And they typically will focus on the types of events that cost the most. But as a manufacturer, do you know how to accurately calculate the true cost of downtime? This is a calculation that many get wrong and can significantly hamper efforts to minimize the financial impact of downtime occurrences.
Sourced through Scoop.it from: blog.leviton.com