Introduction to True Downtime Costs (TDC)
True Downtime Cost (TDC) is a method of recording and analyzing all the costs associated with equipment downtime in a production, processing or manufacturing facility. It provides a way to assign time and/or monetary value to stoppages in a complete, thorough and true way that reflects the direct, indirect and opportunity costs lost because of plant and equipment outages.
True Downtime Costs includes downtime factors commonly overlooked, or previously considered “non-tangible”, to arrive at a more accurate value for the real cost of downtime. Downtime costs include more than the simple direct costs usually quoted to managers. The true downtime cost includes a vast array of wasted business support costs and lost business opportunity costs because resources were needed to rectify a downtime incident that probably did not need to happen. Read More . . . . . . .
Since Downtime Costs the U.S. So Much Money
Why aren’t more companies focusing on improving service, manufacturing and production issues rather than laying off employees in order to protect their bottom line. Many companies are now realizing there are tough times ahead for all of us and the only way to keep the boat from sinking is to plug the downtime hole. This is a very large gap in American business today.
At Bartol Research we are trying very hard to get the message out that companies are losing much more than they anticipate. In this economy every company that offers a service or product should be taking a close look at the cost of their downtime in relationship to the industry they operate in. In some cases it’s costing over $23,000 per minute.
Would it be worth investing $45.00 to purchase one Mag-Probe that can take a thirty minute test down to 1 minute. If you are taking the full thirty minutes every time you troubleshoot an Electrical Solenoid Valve or Relay you might consider the cost verses the reward. Let’s just say you only loose $100 per minute when testing valves or relays, in 30 minutes you just lost$3,000. In some manufacturing plants the cost is much higher so let’s use the example above. $23,000 per minute x 30 minutes = $690,000 in a Half an Hour. If the problem was with an intermittent solenoid valve or relay the cost would have been drastically reduced by using the Bartol Mag-Probe.
I learned a long time ago about lost potential revenue. It’s not only how much money you are making that increases incremental profits, it’s how much you save while you are making money.
The Bartol Mag-Probe is an a economical instrument that is of the highest quality standards. It is manufactured in an ISO-9000 clean room and can be sterilized using a cold process. It is approved for use in Nuclear Power Plants, is waterproof and operates in temperatures ranging from 80 below zero toOil & Gas
160 degrees fahrenheit. The Mag-Probe is made by hard working Americans at HSI Sensing in Oklahoma that are very proud of their quality workmanship. There are no similar products that come anywhere near the quality and sensitivity of the Mag-Probe. The sensitivity level of the Mag-Probe will detect a magnetic field as low as 1 Gauss. For complete Mag-Probe Specifications Click Here . . . . . . . .
Bartol Research continues to find new applications for the Mag-Probe and will update our blog with more information as it becomes available.
“There is always a solution, we just have to want one.”
Bob Bartol – Inventor – Founder – CEO