Financial Justification
Abstract
This chapter discusses the requirements for the financial justification of a proposed automation solution. The specific savings that may be available from each of the 10 key benefits of robots are reviewed together with some examples of how these can be expressed in financial terms. An approach towards developing a financial justification is discussed, including both savings and also other project costs that may be missed. The importance of providing the appropriate budget for a project is also highlighted.
Keywords
Payback
Budget
Justification
Labour turnover
Scrap
Rework
Return on Investment
ROI
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