We’ve looked previously at the operational benefits of using machine vision but today we’re going to drill down on the economic benefits and how they fit in the payback you can expect from installing an automated visual inspection machine or system.
The economic case for investing in machine vision systems is usually strong due to the two key following areas:
- Cost savings through reducing labour, re-work/testing, removing more expensive capital expenditure, material and packaging costs and removing waste
- Increased productivity through process improvements, greater flexibility, increased volume of parts produced, less downtime, errors and rejections
However, just viewing the benefits from an economic perspective does not do justice to the true value of your investment. Machine vision systems can add value in all of the additional following ways. Unfortunately, due to the intangible nature of some of these contributors it can be difficult to put an actual figure on the value but that shouldn’t stop attempts to include them. These five pillars of payback are critical in understanding the economic benefits of installing vision systems and are the best way to assess how machine vision can impact your organisations bottom line.
Intellectually
- By freeing staff from repetitive, boring tasks they are able to focus thinking in ways that add more value and contribute to increasing innovation. This is good for mental health and good for the business.
- By reducing customer complaints, product recalls and potential fines automated inspection can help to build and protect your brand image in the minds of customers
- Building a strong image in the minds of potential business customers through demonstrating adoption of the latest technology, particularly when they come and visit your factory!
- Through the collection of better data and improved tracking machine vision can help you develop a deeper understanding of your processes
Physically
- The adoption of machine vision can help to complement and even improve health and safety practice
- Removing operators from hazardous environments or strenuous activity reduces exposure to sickness, absence, healthcare costs or insurance claims
Culturally
- Machine vision can contribute and even accelerate a culture of continuous improvement and lean manufacturing
- Through increased competitiveness and improving service levels machine vision helps build a business your people can be proud of
Environmentally
- Contributing to a positive, safe working environment for staff
- Through better use of energy and resources, smoother material flow and reduced waste machine vision systems can help reduce your impact on the environment
The costs
Costs can range from several hundred pounds for smart sensors and cameras, up to hundreds of thousands of pounds for complex IVS automated inspection machines. Of course, this will depend on the size and scope of your operations and specification – and may be more or less.
However, even in the case of high levels of capital investment it should be obvious, from the potential benefits outlined above, that a machine vision system can quickly pay for itself.