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Does your plant underestimate revenue lost due to downtime? Many plants do, according to Dave Crumrine, president of the Construction Services division at The Interstates Companies, an electrical industrial consulting firm based in Sioux City, Iowa.
To make his case, Crumrine cites research conducted by DowntimeCentral.com, a Web site supported by St. Louis-based engineering and maintenance training firm Business Industrial Network, whose studies have found that most plants underestimate unplanned downtime cost by more than 1,000%.
The site also notes that 5% of a typical plant's productive capacity...