What To Consider When Investing In Cobots
Investing in Cobots could be a smart decision for your business. Collaborative Robots, or “Cobots”, are being welcomed by many in the manufacturing industry. I wrote a brief article entitled “What is a Cobot”. These Cobots are smaller more agile industrial robots designed to work alongside employees to do repetitive tasks. Often referred to as work assistants, these robots can help increase production/product quality, reduce worker injury and boredom when performing numerous tasks. The question is, should you invest in Cobots for your business? Here are a few things one might consider.
Return on Investment
Every time a business owner or board of directors plans to invest money in the company, the key question is always, “What will be the return on investment be?” Compared to industrial robots, most businesses see a much faster return on their investment with Cobots. There are several reasons that include comparison of employee costs, production cycles, daily output and reject rates, but a significant one is that they are much faster to set up and integrate compared to industrial robots. Plus, Cobots do not need special programing or coding and can be operated by existing employees. This saves time and money.
Increased Worker Production
Able to work 24/7, Cobots are great at increasing production both efficiently and faster in most applications. In addition, the challenge of finding reliable and capable employees for repetitive tasks can be reduced with a savings in recruiting and hiring expenses.
One of the best reasons to invest in a Cobot can be to free up your employees from tedious, repetitive tasks to do more value-added work for the company. Boosting both employee morale as well as profitability.