True Downtime Cost
True Downtime Cost is the total cost of a machine or system failure, including both direct and indirect costs. Direct costs include the cost of labor, parts, and materials needed to repair the machine or system. Indirect costs include lost production, lost sales, and lost customer satisfaction. True downtime cost also includes the cost of preventive maintenance, which can help reduce the likelihood of a machine or system failure. True downtime cost is an important metric for maintenance operations and management, as it helps to identify areas of improvement and prioritize maintenance activities.