Trackunit’s recently launched Eliminate Downtime White Book 2020 outlines 100 key insights and learnings as to how the construction industry can eliminate downtime.
Soeren Brogaard, CCO of Trackunit and initiator of the Eliminate Downtime movement, said, “I have said before that downtime is the mother of all problems in our industry.
“By documenting how the industry is engaging with the challenges, we offer a guide that people at all levels can gain insights from and hopefully spark new ideas that will continue to drive this movement forward.”
The 10-chapter book is based on 12 months of research from conferences, the Eliminate Downtime Committee and an industry survey.
Chris Matthew, Strategic Manager of P Flannery Plant Hire, is quoted in the book as saying, “If we don’t invest in new technology and processes, we won’t see the increases in productivity and decreases in costs we need.”
Trackunit’s survey showed that companies with more than 50% of their fleet digitally connected enjoy a 23% higher financial performance than the rest, and companies with more than 75% of their fleet connected enjoy a 51% higher financial performance than the rest.
Total cost of ownership (TCO) is highlighted as an area where technology can have a particularly positive impact.
By collecting data on the operation, location, use, servicing and upkeep of all equipment, accurate records can be kept. This helps rental companies to manage their fleets more effectively because the whereabouts and readiness of units is known, and it also improves resale values.
Moving forwards, it is suggested that it will be possible to base TCO on actual machine use and to factor in things such as capital cost, operating expenses and downtime.
The same data can help manufacturers improve designs and rental companies to innovate with new models.
At present, just one third of all assets are connected, according to Trackunit’s findings. But as tools, machines and their components become increasingly connected, this will help to identify bottlenecks and inefficiencies.