[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"article-abb-survey-exposes-inr-7-million-per-hour-cost-of-unplanned-downtime-in-indian-industry":3,"$fjnKX72BiLw-CiZZ5MQCs0a0C_bANyAZUVd6PqPzBgJg":30,"$f-j9YGNBwRSSL7SH4JzUpRZrBt_Eb-enBkRymgC2HvJg":167,"$fR4DoeVRVekscO3pYCsJIt6KjRPIynjtNlytHFj6IDMg":208,"$fx0Dz-WUAXgaGJDFKp5JoFihuourpw4oC0uNO6EDK9Y8":214,"$flyRSpjhyVE29pqjd-DzWtoRwNGPXrTq6WJDGSvhczcc":246},{"data":4},{"id":5,"title":6,"slug":7,"excerpt":8,"content":9,"imageUrl":10,"socialImageUrl":11,"publishedAt":12,"author":13,"category":14,"likes":15,"summary":16,"captionLinkedin":17,"captionTwitter":18,"captionInstagram":19,"seo":20,"prevPost":22,"nextPost":26},651,"ABB Survey Exposes INR 7 Million Per Hour Cost of Unplanned Downtime in Indian Industry","abb-survey-exposes-inr-7-million-per-hour-cost-of-unplanned-downtime-in-indian-industry","Discover why Indian industrial firms are losing INR 7 million hourly to downtime and how switching to outcome-based maintenance models can boost efficiency.","\u003Cp>\u003Cimg style=\"float: left;\" src=\"https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FOctober2023\u002FValue%20of%20Reliability%20ABB%20Survey%20Report%202023.jpg\" alt=\"\" width=\"333\" height=\"148\">ABB’s new ‘Value of Reliability’ survey reveals that 88 percent of Indian industrial businesses experience unplanned outages at least once a month, compared to 69 percent globally. This costs the typical Indian business close to INR 7 million per hour, compared to INR 10.3 million globally. Despite this, 19 percent of Indian businesses surveyed still rely on run-to-fail maintenance.\u003C\u002Fp>\r\n\u003Cp>The survey, conducted by Sapio Research in July 2023, gathered responses from 3,215 plant maintenance decision-makers globally across the metals, oil and gas, chemicals, energy generation, food and beverage, plastics and rubber, water and wastewater, rail, utilities, marine, and wind sectors. It is part of a report that provides insights into how businesses currently manage maintenance and how they can reduce unplanned downtime.\u003C\u002Fp>\r\n\u003Cp>The findings demonstrate the importance of equipment reliability and maintenance. Globally, 92 percent reported that maintenance has increased their uptime in the last year, with 38 percent reporting an improvement of at least a quarter. Also, three-quarters of respondents said that reliability positively impacts their business reputation and financial performance, and helps them meet contractual obligations, prevent waste, and secure repeat business. Reliability was rated by respondents as the top priority when purchasing new equipment.\u003C\u002Fp>\r\n\u003Cp>Looking forward, 60 percent plan to increase their investment in reliability and maintenance in the next three years, with a third planning to boost spending by more than 10 percent. Nine in ten respondents expressed interest in outcome-based maintenance agreements. Under these, operators pay service partners based on achieved outcomes, such as increased uptime or energy efficiency. This results in efficient and effective service delivery with predictable cashflow.\u003C\u002Fp>\r\n\u003Cp>Speaking about the results of the survey, Amit Gupta, Division President - Motion Services, ABB, said: “The study's findings make it abundantly clear that our industry frequently underestimates the genuine consequences of unplanned downtime, and the survey strongly corroborates this reality. This serves as a pivotal moment for our industry to shift its collective focus towards energy efficiency, recognizing the substantial impact of downtime. It’s paramount that we invest in bolstering reliability, incorporate digitalization to enhance decision-making, and adopt a forward-thinking, outcome-based approach for the long term. With this in mind, industrial businesses should aim to progress from a high-risk run-to-fail maintenance approach to a long-term outcome-based strategy. This will improve reliability, business reputation, competitivity, cut costs, and provide peace of mind, empowering businesses to focus on their core competence.”\u003C\u002Fp>\r\n\u003Cp>This new, outcome-based model of maintenance will help industrial businesses meet incoming emissions targets and regulations as the world fights against climate change. In addition, it will help overcome the industry skills gap as experienced technicians reach retirement age.\u003C\u002Fp>\r\n\r\n\u003Cp>For more information \u003Cstrong>www.abb.com\u003C\u002Fstrong> \u003C\u002Fp>","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FOctober2023\u002FjHTu9u7tMWX2IQe71oTe.jpg","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fsocial\u002Fhorizontal\u002Fposts\u002FOctober2023\u002FjHTu9u7tMWX2IQe71oTe.jpg","2023-10-12T05:21:59+05:30","MWM Desk","News",0,"88 percent of Indian industrial businesses face unplanned outages at least once every month.\nUnplanned downtime costs the average Indian business approximately INR 7 million per hour.\n60 percent of surveyed companies plan to increase maintenance investment over the next three years.","Unplanned downtime is a silent profit killer, costing Indian industry a staggering INR 7 million per hour. A recent survey by ABB reveals that while 88% of local businesses face monthly outages, 19% are still clinging to risky 'run-to-fail' maintenance strategies. \n\nAs we navigate an era of tightening emissions regulations and a shrinking skilled labor pool, the shift toward outcome-based maintenance models is no longer optional—it is a competitive necessity. By prioritizing equipment reliability and digital integration, plant leaders can transform maintenance from a cost center into a strategic advantage. It is time to move beyond reactive fixes and secure long-term operational excellence. How is your organization addressing the reliability gap? Let’s discuss in the comments below. #IndustrialAutomation #ManufacturingExcellence #PredictiveMaintenance","Unplanned downtime is costing Indian industry INR 7 million per hour. Is your plant relying on outdated 'run-to-fail' maintenance? Discover why outcome-based strategies are the future of industrial reliability. #Manufacturing #ABB","Is your plant losing money by the hour? 💸 A new report from ABB shows that unplanned downtime is costing Indian businesses INR 7 million every single hour! 📉 \n\nDespite these massive losses, nearly 1 in 5 businesses are still waiting for equipment to break before fixing it. With the industry skills gap widening and stricter climate regulations on the horizon, it’s time to shift to outcome-based maintenance. 🛠️ Investing in reliability isn't just about fixing machines—it's about protecting your bottom line and future-proofing your operations. Ready to level up? 🚀 \n\n#IndustrialTech #Manufacturing #EngineeringSolutions #PlantMaintenance #SmartFactory #BusinessGrowth #ABB",{"title":6,"description":8,"keywords":21},"industrial downtime, abb survey, plant maintenance, unplanned outages, manufacturing efficiency, predictive maintenance, industrial reliability, b2b manufacturing, energy efficiency, asset management",{"title":23,"slug":24,"imageUrl":25},"Raksha Pipes’ Ambitious Expansion Strategy Targets ₹3,000 Cr Revenue","raksha-pipes-ambitious-expansion-strategy-targets-rs3000-cr-revenue","https:\u002F\u002Fmedia.magicwandmedia.in\u002Fposts\u002FOctober2023\u002FmXnhrMzb32cYlq33Zxyw.jpg",{"title":27,"slug":28,"imageUrl":29},"Birla Carbon Acquires Nanocyl to Foster Innovation in Sustainable 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