By: Dallas Crawford
09/15/2020
Manufacturers know the value of automation on the plant floor. The world is more interconnected, with more competitors, and consumers are more informed and thus more selective with purchasing decisions. With increased competition and disruption, manufacturers must leverage automation to achieve operational efficiency.
Automation of any process delivers higher productivity, lower costs, improved workplace safety, enhanced precision, and ultimately allows associates to focus on more valuable activities. Technology, and specifically machine learning, has helped expand the breadth of automation by becoming more accessible and affordable for manufacturers of every size.
Transferring plant-floor efficiency to pricing efficiency
Robotic automation on the plant floor has helped companies produce high-quality goods more quickly and efficiently. Robots perform dull, repeatable steps with reliable accuracy and do not get tired, distracted, or endure repetitive injuries.
Pricing automation is simply transferring the same plant-floor efficiencies to pricing best practices. Physical strain is unlikely from a pricing process, but mentally it can be taxing and often impossible when determining the optimal prices for unique products.