The existence of 4 industrial revolutions is widely accepted. Each of these revolutions is determined by inventions and novelties that after being introduced in the factories, they greatly improved the production efficiency.
The 4 industrial revolutions and the main changes in the industry:
1st Industrial Revolution (1784) – Mechanization: steam machine, water power and mechanization.
2nd Industrial Revolution (1870) – Electricity: mass production, assembly line and electricity.
3rd Industrial Revolution (1969) – Computing: Automation, technologies of the information and communication (TIC)
4th Industrial Revolution (today) – Digitalization: Internet of things, clouding, digital coordination, cyber physical systems and r...
How much does one minute of production downtime cost to my business?
This question is becoming more usual in companies. According to a study carried out in USA, the cost per minute of line stop in the automotive companies costs the firms the impressive amount of around 22,000 dollars. On the other hand, a similar study focused on data center downtime yields an average of $ 8,000 per minute. Today it is of the utmost importance to ensure the operation of production lines for business stability, which gives us an idea of the current impact of IT technologies on industrial companies.
That is why the control and monitoring of both parts of the business, IT and production, must be unified. The idea is to "monitor everything" in the same ...
Unplanned work stoppages cost global industries millions of dollars in lost revenue. Downtime can be caused for multiple reasons. Examples can be weather delays in airline companies or cyber crime which lead to infrastructure breakdowns.
Susceptibility to failure persists, particularly as it relates to factories. According to some research information, more than 90% of machines in factories globally are not network-connected, and the vast majority are more than 15-years-old.
The graphic below shows how much money is lost in a few major industries for just one minute of downtime: