Factory downtime is an expensive problem. According to one estimate, it costs enterprise companies 11% of their yearly turnover, amounting to almost $1.5 trillion each year. That works out to about $129 million per facility among Fortune 500 companies, over double what Fortune 500 companies reported paying in downtime in 2020.
Part of the reason downtime is occurring so frequently — and becoming more common — is because factories often lack a single source of truth, depriving them of the insights needed to make quick decisions about their operations.
To solve this problem, entrepreneurs Alex Sandoval and Nicolas DeGiorgis, who met a Rappi, the Latin America-based delivery app, …
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