How to calculate a compelling ROI for AMR
While most manufacturers today know they need to automate further to compete better, most also struggle to make a compelling business case for autonomous mobile robots (AMR).
What’s more tightening margins and cost-cutting pressures are keeping manufacturers from investing in new technology unless they can see a clear and short-term ROI. In fact, according to the findings from our latest report, a staggering 88% of manufacturers say ROI concerns slow automation attempts down.
Don’t get left behind. Read the full report here.
Getting a better understanding of the business value of AMR is essential for manufacturers who want to get ahead. Here are five figures to include in your ROI calculations.
The most obvious statistic to plot into your ROI calculation is the sum of costs saved with labor and skill optimization. With their long battery life, high payload and autonomous routing, AMRs can take on hours a week of low-value human tasks. However, this simple figure is only the tip of the iceberg.
Faster supply chain
Removing human decision making from the supply chain decreases the rate of errors, required quality checks and collisions. All of these contribute to a slowed or halted process. By adding sophisticated AMR technology to the mix, manufacturers can see an improved offering from day 1.
The MiR AMR is probably one of the safest in the world, with the latest technology to keep workers safe. By taking on the tasks that put workers at risk of an injury, the related financial cost from fines, lost workdays and damaged equipment should drop dramatically.
While there is complex technology and data behind MiR AMRs, their set up and use is anything but. Unlike AGVs, which require refitting of the shop floor, MiR AMRs can be implemented quickly, ensuring that there is no downtime in other processes when the robots are deployed.
More attractive workplace
By creating a better work environment, the costs relating to retaining and recruiting staff should naturally drop. In a period of record employment, many manufacturers are struggling with staffing. Therefore, implementing AMR to take on the dirty, dull and dangerous jobs will help increase appeal.
Quicker response to market demands
For businesses to keep competitive on a global playing field, logistics processes must get increasingly lean and responsive. AMRs contribute to reliable, efficient and flexible workflows. This means those who automate the most will be able to respond better to external demands and fulfill larger or more complex orders than before.
Unsure about the ROI of AMR?
Find out how we helped Honeywell see an ROI in just 2 years
Calculate your ROI for MiR robots
The robots from MiR offers a fast return on investment
with a payback period that is often less than a year.