Majority of industrial Automation systems users, integrators, and manufacturers expect very early Return on Investment (ROI) when replacing or adding new industrial automation systems. This is very short term view. ROI is basically payback time based on how long it will take to earn back the cost of an investment from the savings it generates. This has been an issue for years - industrial automation controls and systems have not been treated like other production assets. The majority of industrial automation systems in plants are 20 years old or more. The typical reasons companies upgrade or replace industrial automation systems include lack of support, high repair parts cost, and obsolescence. When companies keep existing industrial automation systems for too long, they ignore the importance of industrial automation as a strategic business investment. On the other hand, short term ROI justification requirements almost guarantee mediocre results rather than striving for excellence.
Industrial Automation is now fundamental for manufacturers to improve productivity and efficiency. To remain competitive, manufacturers need to change their thought process. Automation professionals should educate management about the value of industrial automation investments. The knowledge will assist them in budget planning and also elevate the understanding of automation’s value contribution.
Business Lifecycle Process
A decision to invest in new industrial automation components or systems should be based on fact and provide answer to savings in production cost, production volume increase, less machine downtime & savings in maintenance cost. These improvements all equate to more profits. In many cases new technology investments simplify operations, application configuration, and programming changes.
Because industrial automation systems must run in difficult environments they can have a long lifespan. Technology is advancing very fast, even though industrial automation systems may not have reached near to its lifespan end, sometimes it may be beneficial to upgrade. New technology can improve productivity and quality while reducing operations and maintenance costs.
Suggestions to industrial Automation Professionals It is important to focus on business and operating value or the financial decision makers will view you as those technology people that just want to play with new toys. Update your plan every year and you will create awareness of industrial automation system issues. As a result, automation investments can be included in the budgeting process. The capital budgeting process enables managing staff to keep some money separately for large investments so that old & inefficient systems are replaced with new industrial automation systems based on business strategy. Industrial Automation needs to be a core part of the business and it is up to industrial automation professionals to make it happen.
Industrial Automation is now fundamental for manufacturers to improve productivity and efficiency. To remain competitive, manufacturers need to change their thought process. Automation professionals should educate management about the value of industrial automation investments. The knowledge will assist them in budget planning and also elevate the understanding of automation’s value contribution.
Business Lifecycle Process
A decision to invest in new industrial automation components or systems should be based on fact and provide answer to savings in production cost, production volume increase, less machine downtime & savings in maintenance cost. These improvements all equate to more profits. In many cases new technology investments simplify operations, application configuration, and programming changes.
Because industrial automation systems must run in difficult environments they can have a long lifespan. Technology is advancing very fast, even though industrial automation systems may not have reached near to its lifespan end, sometimes it may be beneficial to upgrade. New technology can improve productivity and quality while reducing operations and maintenance costs.
Suggestions to industrial Automation Professionals It is important to focus on business and operating value or the financial decision makers will view you as those technology people that just want to play with new toys. Update your plan every year and you will create awareness of industrial automation system issues. As a result, automation investments can be included in the budgeting process. The capital budgeting process enables managing staff to keep some money separately for large investments so that old & inefficient systems are replaced with new industrial automation systems based on business strategy. Industrial Automation needs to be a core part of the business and it is up to industrial automation professionals to make it happen.
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Call Now Our TOLL FREE No. 1800 - 200 – 4051
Noida +91-9873630785
Delhi +91-9711861537
Gurgaon +91-9873588305
Lucknow +91-9838834288
Allahabad +91-7704003025
Jaipur +91-8058033551
Mohali +91-9873349806
Bhopal +91-9755559168
Vadodara +91-9898666980
Ahmedabad +91-9227185900
Pune +91-7387700416
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