⟩ Explain what is the meaning of ROI, and when does it apply to customers?
ROI stands for “Return on Investment”. This is the amount your company will save by incorporating robots. A robotic system typically produces the same output as 4 welders. The annual savings (ROI) can be calculated as follows:
ROI = [(x + y) * 4 – z] * t
x = Hourly Rate of Welder
y = Equipment Cost Per Hour
z = Robotic System Cost Per Hour
t = 2080 Hours Per Year