Boosting Profitability with Robots and AI

Boosting Profitability with Robots and AI

If you’re like most manufacturers, you’ve heard the terms “robots” and “AI” floating around the past few years. Did you know that infusing robots and AI into your business can boost your profitability?

Too often, manufacturers focus solely on the cost of implementing robots and AI and neglect to look at the full picture and the potential profitability benefits.

In this article, we’ll cover four different ways that robots and AI can boost profitability in your manufacturing business and how you can get started leveraging these new pieces of technology.

Shifts Employee Workloads to Higher-Value Tasks

The first benefit of utilizing robots and AI is the ability to shift your employee workloads to higher-value tasks. Completing the manufacturing process by hand can be tedious and take up a majority of your employees’ time.

By implementing robots and AI, you can remove these mundane tasks, allowing your employees to focus on higher-value items, like growing your customer base or developing new products. Not to mention that alleviating high workloads can bolster your retention efforts and help you retain key employees. Both of these realms translate into stronger profit margins.

Reduces Warehouse Bottlenecks

At their core, robots and AI prioritize efficiency. Replacing an old machine with a robot can free up much needed space in your warehouse, reducing clutter and removing bottlenecks. What could you do with an extra 200 square feet?

Could you increase your daily capacity or store more inventory? How about adding another piece of machinery to double your profit margins? Reducing warehouse bottlenecks allows your business to lean out and maximize revenue, both of which trickle down to your bottom line.

Expands Product and Service Options

Robots and AI can help you pinpoint what your customers truly want, opening the door to new product and service options. Could you produce a new trending product? Having the right back-office support allows your business to remain agile and hop on high-profit trends at a moment’s notice.

Additionally, with your employees less constrained, maybe you decide to open a service segment in your business. Instead of just producing items, you can now send employees to service the machines, growing your business and expanding profitability.

Improves the Decision-Making Process

Decisions come at a cost. Making the wrong decision could negatively impact your financials and profitability. With AI, you can run different scenarios to determine which option is best for your business.

The predictive capabilities of AI generate more accuracy and reduce the risk of monetary losses. Maybe you are considering pursuing a new target market or adding service options. Wouldn’t it be nice to know the financial cost of each item and how it will impact your profitability?

Getting Started

These are just four of the ways that robots and AI can take your business from surviving to thriving. Remember that purchasing used equipment is a cost-effective way to give your business access to robots and AI. You don’t always need to foot the bill for new machinery and equipment.

About IMS Supply: IMS Supply is a leading distributor of maintenance, repair and operations (MRO) products and services with facilities in East and West Michigan and Kentucky. Through our MRO Asset Recovery Program we stock hard to find parts and supplies from thousands of different manufacturers at prices up to 70% less than MSRP. Contact us today to find out how we can help your business.