How does automation tech become an asset to your company?
Find out in today’s video:
One of the BIG BENEFITS of machine automation is that it is simultaneously a: physical asset, unique process, and potentially an IP asset.
The benefit of machines and robots being physical assets is that they can be financed and can contribute to your evaluation.
You’re also more competitive if you can build new equipment to automate processes in your business that your competitors don’t have access to.
Chances are if you have a process in your business that you want to automate, 80% of it can be done with existing off the shelf technology, and 20% will need to be modified, coded, or built. Once complete, these modifications become a secret sauce or trade secret that your competition will have a difficult time copying.
Also, if your application is unique enough that you can patent the process or parts of the machine it becomes an intellectual property asset which you can use to boost your company’s evaluation. It works especially well in franchises where the franchisor holds the IP rights and provides the machines/process to the franchisees.
Case Study
With 2 engineers, an assistant, and a project manager, Boxed (a wholesale retailer that offers direct delivery) built their own automated picking carts.
They were specifically designed to handle picking of large bulk-item boxes unique to their wholesaling business. Their internal team was able to come up with a prototype in 90 days.
The plan was to realize an 80% increase in picks per hour at 10% the cost of a conveyor system.
This is a great example of a company knowing their own needs extremely well which enabled them to design around their needs and reduce costs.
If you’re thinking of a process that you want to automate in your business, and you want to know more about the existing off the shelf solutions…
or you think with the right help you could design a more cost effective solution
Please reach out.
Stephen
stephen@automationexperts.ca
403-616-9316
