One of the most important things to understand about downtime tracking is that you’re ultimately examining so much more than just whether a piece of equipment is running or whether it isn’t. Really, you don’t need technology to tell you when a machine goes offline – you have your eyes to take care of that for you.
Rather, downtime tracking is all about generating an almost unprecedented level of visibility into your enterprise – one that unlocks the type of insight that helps you maximize productivity AND profits in one fell swoop.
Maximize Downtime Tracking, Maximize Profits
By far, the biggest way that downtime tracking can help maximize profits involves giving you an opportunity to optimize not only the overall performance of your production lines, but their uptime as well.
It’s rare that you’ll find any manufacturing environment that operates at 100% uptime all day long. Things happen and unexpected downtime is sometimes a way of life. But even beyond that, equipment needs to go offline for planned maintenance. Shifts need to change. These are all things that you’re not really going to be able to avoid.
But with downtime tracking, you have an opportunity to maximize your uptime in a way that guarantees you produce the products you need at a cost that falls in line with your forecasts and projections as well.
If you don’t know exactly when certain machines are running and when they’re not, you’ll have a difficult time in terms of how you plan out your operations. Once you’re able to see when your machines are online and off in real-time, you can have a better understanding of the types of choices you need to make in terms of operations, logistics and similar factors.
You can also prioritize where employees are and what they’re doing when armed with this information. If any critical performance issues are discovered, you can put a stop to them before it’s too late to fix them. But most importantly, you’ll be able to gain a better understanding of the types of issues that are preventable and which ones aren’t. This level of understanding will allow you to run a smarter business, which will invariably allow it to become a more profitable one as well.
This level of downtime tracking can also help in terms of making sure that your equipment is optimized in a way that allows you to meet your delivery dates, for example. By its nature, downtime tracking is also a great way to gain insight into any loss or waste you might be experiencing – thus letting you remove as much as possible in a way that increases your profit margins as well.
If you’d like to find out more information about how you can maximize profits with downtime tracking, or if you’d just like to discuss the way our innovative solution might be able to help empower your efforts in a bit more detail, please don’t delay – contact Thrive today.