The cost of downtime: How productive business solutions can save companies thousands
The financial impact of downtime in welding facilities can be immense, costing thousands of pounds every year and creating further issues that are difficult for companies and employees to recover from. To combat downtime before it begins, companies may rely on productive business solutions to keep the workflow uninterrupted and reduce critical financial strains.
PWP is proud to offer businesses affordable, productive solutions and help in the interception of downtime before it starts, allowing for more significant profit and less financial loss. Our productive solutions are long-term preemptive solutions for any issues the welding industry faces.
We must understand the development and aftermath of downtime before knowing how productive solutions can help the industry and individual companies. This article will delve into the effects of downtime before highlighting how productive solutions can remedy these issues.
Firstly, the loss of productivity is the most significant issue of downtime. Due to mechanical failures or human error, welding environments can be inoperable by employees for safety reasons; therefore, there is no output from the facility during downtime. With the production line halted and workers idle, there is a significant decrease in the number of units produced; therefore, the company experiences financial loss.
However, while workers remain idle and production halts, the company must continue to pay labour costs. These costs create even further losses for companies that need to generate profit, continuing to strain the business’s finances.
If the downtime was due to mechanical failures, maintenance or power outages, then the company must consider the cost of repairs and the time necessary to conduct those repairs. Examining the safety of employees and repair professionals is essential; however, updating safety precautions can incur extreme costs.
The effect of downtime in one part of the company can cause chain reactions. This reaction can include missed deadlines, loss of future opportunities and, therefore, future loss of profit. Downtime has a ripple effect and can affect your company’s reputation, which is difficult to recover, so you need to get your company operational again quickly – which costs more money.
Downtime can be disastrous for companies within such a fast-moving industry like welding. So, it’s best to think ahead, invest in production solutions and get the upper hand on potential downtime.
Productivity solutions play a crucial role in the welding industry by increasing efficiency and improving output while driving growth in the industry and individual companies. By utilising productivity solutions, companies can produce higher quality products, better their safety standards and position themselves with potential clients, presenting a lack of downtime as a reason for commission.
Suppose you’re searching for a proactive solution to downtime and aiming to reduce costs. In that case, productivity solutions are the best option for companies hoping to become prominent and reliable.
For many years, PWP has distributed productive business solutions to customers who have positively impacted their company by reducing the opportunity for downtime to occur, allowing prosperity and financial success.
If you would like to learn more about productivity solutions or would like to discuss the topic with a member of our team, please contact us today.