Calculate the costs associated with downtime
We all know that downtime costs money, but do you actually know how much it's costing your business?
Calculating the cost of downtime can be quite revealing. While cost is relatively quantifiable in terms of lost productivity, when you factor in the various processes and people involved (such as admin time and the travel associated with tool repair) the costs can quickly spiral.
According to Construction Equipment magazine, once these associated resources are taken into account, the cost of downtime can add up to hundreds of pounds per hour. Downtime on site can vary from around 5-10 minutes to 2-3 hours, with these longer bouts potentially resulting in serious financial implications.
The cost of downtime is often difficult to calculate, so why not get in touch about Hilti's productivity analysis?