How Industrial Robots Capture their ROI
Return on Investment (ROI) is a metric that is commonly used to justify investing in robotic automation. If you are considering purchasing a FANUC Arcmate 120ic, you will want to know beforehand how valuable of an investment it will be. Calculating the ROI allows buyers to determine if they will be able to see a return on the robot, how long it will take to break even, and the expected cost savings. Most industrial robots deliver their ROI within two years. There are also ways in which robot ROI can be maximized in order to see a faster and larger return.
You may be wondering how it is possible for robotic users to see a return in a relatively short amount of time. Robots are able to capture their ROI through the following ways.
Reduced CostsThe first way robotic users are able to realize their ROI is through reduced costs. Industrial robots can reduce costs in three main areas, which are labor, materials, and utilities. Automating production lines with the ABB 6640 reduces the amount of manual labor needed for manufacturing. Companies reduce costs related to salaries, benefits, workers comp, and overtime. The main cost associated with robots is their initial purchase, after that they are relatively inexpensive to maintain. With workers they may initially seem less expensive than automation, but they will cost more in the long run with continuous expenses that tend to rise every year.
Industrial robots are able to reduce material costs through error mitigation, the elimination of rework, and the conservation of consumables. Robots are highly accurate and programmed for applications. This ensures mistakes are avoided preventing the scrapping and overuse of materials and consumables.
Utility costs can be reduced with the energy efficiency of robots. Newer robots are designed with energy efficient features which has reduced the amount electricity they consume. In addition, all articulated robots whether new or used can operate in dim lighting in the heat or cold, reducing factory utility costs.