Posted under Blog by Bob Stallard, VIZIYA Sr. Consultant & Mike Davey, Content Marketing Specialist
The Downtime Reduction Savings Calculator from VIZIYA gives you a clear answer to how much can be saved by reducing the number of downtime events on your physical assets. You can easily calculate how much downtime events cost by using your own historical data on the average minutes per downtime event and the cost per minute to production when the asset is not running.
You can then expand the answers by inputting the number of downtime events per year, and easily show how much money could have been saved if preventive maintenance had been used to keep the asset up and running.
Note that all of VIZIYA’s calculators are provided for general illustrative and informational purposes only. They are not intended to replace maintenance analytics tools or software and should not be used as such. These calculators are not intended to provide specific advice or recommendations under any circumstances and they may not cover aspects of your particular situation. VIZIYA does not retain any of the data entered into any of the calculators.