How Downtime Impacts ManufacturingBrett Wilkerson
Accurate and real-time management of your critical manufacturing components is vital to your business. Without it, you could experience one of the worst things to happen to your operations – unplanned downtime.
When production unexpectedly stops, your lost revenue is 15x more than a scheduled downtime. And considering that asset maintenance can run as high as $3 million per incident, your unplanned downtime could decimate your profit margin depending on your industry.
For example, the average automotive manufacturer loses $22K every minute the production line is stalled. That’s $1.32 million per hour because someone misplaced the new shipment of lug nuts.
And if you think your assembly line is a well-oiled machine and this sort of thing could never happen to you, it’s time to think again. Reports show that 82% of companies have experienced unplanned downtime in the last three years, with an average of 4 hours per outage and an average loss of $2 million per incident.
Unexpected downtime also has a significant impact on your customers. When experiencing an unplanned production break, productive capacity falls by 5-20%. That means deliveries are delayed and customers aren’t getting their inventory.
Worse yet, repeated downtime tells your customers that your company is an unreliable resource that doesn’t have the ability to consistently deliver your products or meet their needs.
The bottom line is you don’t have time for downtime.
To ensure you’re doing everything possible to reduce your unplanned downtime, you need a reliable solution to identify, track, count and manage your inventory.
You need a comprehensive RFID technology package from MSM Solutions.
A Solution to Automate Your Operations
MSM Solutions offers RFID inventory and asset tracking systems to automate your manufacturing quickly and accurately.
By utilizing reliable tools like Zebra’s Integrated RFID Portals, as well as fixed and handheld RFID readers, you can track your critical components. Whether you have an entire shipment still tightly packed on a pallet by the dock doors or a single item waiting to be installed on one of your final products, RFID can help your manufacturing meet its deadlines.
RFID technology is a proven tool that:
- Increases Production Times
- Improves Inventory Accuracy
- Reduces Common Errors
And when you pair it with PortalTrack by MSM Solutions, you have a fully customizable RFID solution that gives you visibility and control over your business operations.
The ITCM Process
Able to integrate with most WMS, ERP, WCS, POS and accounting systems, PortalTrack empowers you to make timely decisions that help your business meet customer demand while achieving a better understanding of your inventory.
This is accomplished by leveraging the ITCM process.
- Identify – Give your inventory a unique identity (Digital DNA) through RFID labeling.
- Track – Quickly track and locate critical components to improve manufacturing time.
- Count – Keep your inventory numbers where you need them.
- Manage – Create custom reports, metrics and facility mapping for better inventory visibility.
Easily accessible through any web browser and supported through Windows, Windows Mobile, iOS and Android devices, PortalTrack lets you customize an RFID solution to fit your unique manufacturing operation. A few benefits of integrating PortalTrack into your business include the following:
- Better Inventory Control
- Tracking Your Work-In-Progress (WIP)
- Quality Assurance
- Real-Time Error Alerts
- Reduced Shrinkage
- Process Traceability
To learn more about how to prevent unplanned downtime with a customizable RFID solution that helps you improve your manufacturing operations, contact MSM Solutions today.