Production and productivity, IT, and customer services are hit hardest by unplanned downtime
On average, the cost of unplanned downtime is 10 times more than planned downtime
70% of companies lack complete awareness of when equipment assets are due for maintenance or upgrade.
Unplanned downtime, can cost, on average, a company more than £200K/hour with some industries reporting an average cost of more than £20,000/minute!
53% of downtime is attributable to internal machinery components
On average 3% of all UK manufacturing working days are lost to faulty machinery
Since 2020, the cost of downtime has soared despite a 23% reduction in production line failures. Major manufacturers now experience 20 monthly unplanned downtime incidents per facility, six fewer than two years ago. But with each failure taking longer to recover from, they have only gained two additional hours of production capacity each month
Downtime costs UK manufacturers £180bn per year (2017)
