Unplanned downtime is every business’s very possible nightmare. It sends a shockwave of disruption across production, equipment, and staff, of course. For most manufacturers, unplanned downtime is the largest source of lost production time.
All About Downtime
Downtime can have an array of effects on businesses. One of the significant impacts of unexpected downtime is lost revenue. Whenever a company’s production is disrupted, every minute that goes by is potentially a minute of lost revenue.
… And Some Common Sources of It
There are many reasons why unexpected downtime may occur. Unexpected downtime can result from a material issue, such as requiring a spare part for your equipment that cannot be located, or a virtual issue, such as a virus in your software. Other causes of downtime include equipment failures, power outages, and human error. Bad asset and maintenance master data can also impact unexpected downtime. For example, an inappropriate preventive maintenance plan can result in unnecessary equipment failures. Another example is delay resulting from missing or incorrect spare part information.
Consider Improving Master Data
NRX AssetHub helps identify data quality issues using strong reporting capabilities to highlight gaps and measure the completeness of the asset and maintenance master data residing in your EAM system before you migrate the data to your new system.
How We Can Help
If you would like to learn more about how NRX AssetHub can help your company cleanse and eliminate EAM data challenges to reduce unexpected downtime, book a demo, and our team can help out!
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