Raise Your Game
at Reliable Plant

Date: Monday June 3, 2024, 1:00 pm – 1:50 pm

Room: Ballroom E

As reported by Forbes, manufacturers typically experience around 800 hours of equipment downtime annually, equating to over 15 hours weekly. In automotive manufacturing, a minute of halted production can result in a loss of $22,000. Downtime in manufacturing leads to an annual cost of up to $50 billion. Operations have traditionally relied on predictive, preventive, and reactive approaches and are now witnessing the emergence of prescriptive maintenance. This transition involves adapting to a proactive rather than a reactive stance, enabling maintenance teams to base their actions on real-time machine condition data and thus avoid unplanned downtime.

The session addresses the significant challenge of equipment downtime and its associated costs in manufacturing, as well as how having fault-finding technology for condition monitoring can be crucial for better results.