Cobot ROI – Part 1

Chances are if you’re in the market for a collaborative robot, you have to get endorsements from others in the company which starts with doing your homework. Aside from the benefits of automation, you will want to know what the potential ROI is you’re looking at if you proceed with the purchase.

Luckily there are several ROI calculators devoted to this very subject! Here is the data you will have to gather prior to completing a form.

  • How many shifts/day, days/week, and weeks/year will the robot operate?
  • Calculate the annual labor costs and number of operators who will be replaced by the robot to determine the labor savings the robot will generate. Include any employee benefits cost.
  • Total cost for cobot, systems integration, delivery, training
  • How many operators do you need to manage/program/monitor the cobot?

When you input this data into one of the calculators, you will receive figures such as: yearly savings, robot cell hourly rate, break even number of months, and yearly cash flow. At that point you can get a more tangible idea of how automation can benefit your company financially.

A good rule of thumb is to target at least a two-year ROI, which will still drive five years of solid returns in a typical robot application.

This is the ROI calculator we recommend:

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Source: Automation World Magazine, Universal Robots