IoT and AI service provider ThingTrax has released a new ROI calculator that estimates how much you could save on downtime costs using its Smart Manufacturing Platform.
Founded in 2015 by Aman Gupta and Imran Shafqat, ThingTrax helps manufacturers transform the way their labour, processes, and machinery connect. Using cloud computing, IoT (Internet of Things), and AI (artificial intelligence), its mission is to turn the 80% of unconnected factories worldwide into smart manufacturing hubs; connecting machines, workers, and robotics to improve efficiency, increase worker safety, reduce costs and drive productivity.
The demand for a more accurate medium in which customers can see exactly where they are losing money has increased dramatically. Though ThingTrax has helped companies reduce their machine downtime by 70%, reduce their material waste by 65%, and increase productivity by 35%, customers normally want to see what their potential ROI (Return on Investment) will look like with the ThingTrax system.
ThingTrax has recently released an ROI calculator that takes inputs such as operating days per year, target improvement, and total machine availability and produces tailored results for each company. These results include downtime loss in production and annual loss of revenue from downtime across the entire factory. With this new calculator, potential customers can concretely understand the size of the saving they can see from the ThingTrax solution.
Click here to fill out ThingTrax’s newly released ROI calculator, and see how much you could save.