Ways to Achieve a Faster Robot Payback Period
The payback period for a robot is the amount of time it will take a company to recapture their initial investment in an industrial robot or robotic system. It is the most common way to determine the ROI (return on investment) for an robot. Most industrial robots can earn back their initial cost within the first two years. Once the payback period has been realized, companies can begin seeing greater savings and higher profit potentials.
While two years is a relatively quick amount of time for companies to see a return on their investment, there are ways in which the payback period can be realized even faster. The following are factors to consider for those wanting a faster payback for an industrial robot.
Buy a Used Robot
Since the payback period is dependent upon how much of an investment is needed to be returned, one way to speed it up is to purchase a used robot. Buying a used FANUC Lr Mate 200ic is considerably less expensive than a brand new robot. Used robots tend to cost 40% to 60% less than new ones. With a cheaper initial cost, the payback period for a robot can be significantly shortened. You should also consider buying any additional equipment such as the welding power source, EOAT, or work cell used to keep the cost of your entire automation project on the lower end.
Consider a Collaborative Robot
Another option for decreasing the initial cost of automating is to invest in a collaborative robot. Collaborative robots can be less expensive than traditional industrial robots when all aspects are taken into account. They also are easy to setup and operate. The Universal UR10 can be up and running within minutes. Their plug and play capability means expensive integration services will not be needed, which also helps keep the cost down. They also do not require any additional safety equipment as they feature built-in sensors, speed limiting operation, and a softer/rounder exterior. The less equipment needed, the less money will be spent to automate. Many cobots have payback periods of just six months, as is the case with Universal’s UR10.
Automate Secondary Applications
The majority of industrial robots are multipurpose with the ability to automate multiple types of applications. Many robot users overlook this and only automate a single, primary process. Automating secondary applications reduces the amount of extra equipment or workers needed for a production. One ABB 2600-20 can automate an entire sequence of tasks. Using a single articulated robot to replace multiple machines or workers will decrease costs and allow for a faster payback period.
Increase Robot Uptime
How productive your industrial robot is will also play a role in how long a payback period will be. The more productive the Yaskawa Motoman MA1440 is, the faster items are manufactured, allowing them to reach consumers sooner. When robots are idle they cannot be productive. The best way to maximize robot productivity levels is to increase robot uptime. This can be done through routine maintenance to ensure robots remain in good condition and prevent breakdowns. Uptime can also be increased with offline programming and time saving equipment such as reamers, tool changers, and RTUs.
Robots Done Right is the place to start when it comes to used robots. Contact us if you are interested in buying or selling a used robot.