Chapter 7

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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