This is part 1 of 5 in our Decoding the State of Industrial DevOps blog series.
In today's competitive manufacturing landscape, minimizing downtime is crucial for maintaining a healthy bottom line. Unexpected interruptions can significantly impact productivity, profitability, and safety. Our recent report, the 1st Annual State of Industrial DevOps (download your copy here: https://www.copia.io/resources/pre-register-the-state-of-industrial-devops-2024), unveiled a startling statistic: an average hour of downtime costs industrial and distribution companies a staggering $4.2 million. For larger organizations, this figure skyrockets even further.
But why is downtime so costly? A significant portion of this downtime, 50% to be exact, is attributed to industrial code management. This means that issues arising from software and code changes are directly impacting production lines, halting operations, and ultimately leading to substantial financial losses. Think about it – a single hour of downtime can wipe out millions in potential revenue. And with the increasing complexity of industrial systems, the risk of downtime is only growing.
In our recent webinar, "Downtime's Margin-Crushing Impact" (watch the recording here: https://www.copia.io/resources/downtimes-margin-crushing-impact), we discussed the ripple effects of downtime, from lost productivity and missed deadlines to damaged reputation and customer dissatisfaction.
In this blog series, we'll delve deeper into the root causes of downtime, explore how industrial DevOps can mitigate these risks, and provide actionable steps to safeguard your operations from costly interruptions. Stay tuned for the next installment, where we'll unravel the connection between cyber security breaches and unplanned downtime.