Costs of Downtime in the Manufacturing Industry
In any industry and business there are times when something goes wrong and all work stops. This is called â€śDowntimeâ€ť and it can be extremely expensive. Downtime Costs can be divided into 2 major classes: Tangible and Intangible. Tangible costs are those that are relatively easy to quantify. Intangible costs are difficult to put a dollar figure on but may be even more significant than tangible costs. This infographic from eMaint Enterprises, explains just how these downtime costs work and what can be done to avoid the high costs of experiencing downtime in your business.