Reduce downtime with AIoT predictive analytic
The manufacturer's potential losses due to unplanned downtime and possible solutions to mitigate them were the central topics discussed during the live sharing session on April 12, 2024, in the "Sembang AIoT" live talk hosted by AIoTmission and Axiomtek Malaysia.Below are some of the potential losses:Production Losses: The most immediate impact is the loss of production output during the downtime period. This directly affects the ability to fulfill orders and meet customer demand, potentially leading to missed sales opportunities and dissatisfied customers.Revenue Losses: With decreased production comes reduced revenue. The longer the downtime persists, the greater the financial impact on the manufacturer's bottom line.Wasted Materials: During downtime, raw materials may sit unused or partially processed, leading to wasted resources and increased material costs.Labor Costs: Even though production may halt during downtime, labor costs often continue as employees may still need to be paid despite not actively working on production tasks.Overtime and Recovery Costs: Once production resumes, manufacturers may need to...