What is the pay-back time for a vision system investment?
Posted by Jeff Schmitz on Wed, Dec 01, 2010 @ 04:35 PM
In machine vision parlance, ROI is usually a region-of-interest - a polygon drawn around the feature area of an image field-of-view. In the business world we all live in, however, ROI is the vernacular for return-on-investment.
When campaigning for project approval for an issue addressed by machine vision, an estimation of the cost outlay can be quoted for the system - smart camera, lighting, lens and filter, bracketing, programming time and integration. How does a project engineer go about calculating the return on this investment and the time it will take to recoup the initial investment expense? A business must see a clear return - a cost savings and a revenue capture or retention from its investment in a vision system.
Factors that weigh into machine vision system deliverables include:
- Labor costs for inspectors
- Scrap reduction
- Increased production/throughput
- Customers retained because quality is consistent
- New customers reached by meeting published industry standards
- Service time and cost reduced because quality is more consistent
For a complete ROI calculator, visit pptvision.com and download our
free ROI calculator.