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4 Reasons for Engineers to Invest in Factory Automation Infrastructure

  • Highlights

  • Boosted productivity

  • Increased safety standards

  • High-quality customer service

  • Innovative product creation

To cater to a consumerist, rising population, there is a pressing need to increase productivity, and improve efficiency, while keeping costs low. As a result, manufacturing is now moving towards automation. It is further augmented by government efforts all around the world, to adopt automation to create or fulfil the gap in demand-supply of goods and services. The industrial and factory automation market is expected to worth USD 239.11 billion by 2023 worldwide. For engineers setting up their own business, investing in factory automation infrastructure holds these four benefits in the long-run.

1. Improvement in productivity

Through factory automation components such as laser markers, temperature controllers, limit switches, static controls, etc., engineers can boost productivity by avoiding delays and errors often seen in manual operations. The cost of automation components such as laser markers can go as high as Rs.18 lakh, the funds for which can be easily procured through special loans for engineers.
The flexi loan facility offered by these special loans can help engineers withdraw funds as and when required from the approved limit for various automation components.

2. Enhancement in workers’ safety and quality of life

Setting up an automated factory would drastically improve quality of life for workers. In a factory, scattered materials, spills, and stray chords pose a significant threat to workers’ safety. If they are not careful, they can slip, trip or fall, causing themselves grave injury. However, robots, an important part of factory automation, can significantly reduce this risk.
This would also improve workers’ quality of life as they can be moved to more skilful jobs that aren’t repetitive. Complete with teach pendants and controllers, the cost of these robots can go as high as Rs.50 lakh, which can be serviced through engineer loans available at competitive interest rates.

3. Developing quality of customer service and satisfaction

Implementing factory automation would enable engineers to improve the quality of customer service by reducing errors, enhancing production, and enabling faster delivery. They will be able to deliver exactly what their customer needs within the stipulated timeframe.
This would subsequently translate into satisfied customers that would ultimately have a positive effect on the organisation’s profitability. It has been found that a ‘completely satisfied customer’ contributes 2.6 times as much revenue, compared to a ‘somewhat satisfied customer’.

Top Business Opportunities for Mechanical Engineers

Benefits of engineer loans

4. Leading to innovative products

As factory automation is optimised for the entire production and supply process, engineers can focus on product innovation and increased customisation, leading to a better customer experience.At the same time, they could focus on work which can’t be automated and other areas of business such as marketing and client acquisition among others, to boost profitability.

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