Vecna Robotics Embeds Cost Management Platform with AI and IIoT for Industrial Applications

Vecna Robotics is the first company to embed a cost management platform, with help from artificial intelligence (AI) and the Industrial Internet of Things (IIoT). Sensors collect data 24/7, which is then used to measure overall equipment effectiveness (OEE) on the plant floor. A ten percent improvement in OEE can generate a greater than 60 percent increase in operating income – a tremendous increase to the bottom line that could represent over $5 million on sales of $100 million.

As manufacturers are facing competitive price pressure, shrinking brand loyalty, and increasing costs, compliance constraints are impacting business efficiencies while quality expenditures continue to increase. The only winning strategy is to increase efficiency and improve quality, while reducing fixed costs and lowering cost-of-goods sold (COGS).

OEE is critical to quality control; it directly measures productivity (actual production compared to capacity to produce) and is correlated directly with operating income and profit. Production machines are designed to meet a certain capacity. In practice, output lags far behind that volume for a variety of reasons. This means that there is hidden production capacity. Only Vecna Robotics closes that gap in knowledge, using AI to design immediate corrective action.

Implementing the OEE solution from Vecna Robotics ensures that customers clearly identify the root causes associated with unplanned downtime. On average, companies see a 25 percent reduction in total downtime with an effective. Lowering the incidence of machine stoppages improves material flow, helps with energy use management, and keeps the costs of quality at a minimum. The ROI on implementing this solution across all the machines has a payback that can be measured in as little time as a few months.

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About Vecna Robotics

Vecna Robotics offers a fleet of intelligent, next-generation autonomous guided vehicles (AGVs) to optimize logistics and material handling operations. With two decades of experience developing advanced systems for medical and military operations, our case picking, goods-to-person, person-to-goods, robot-conveyor hybrid material handling systems are the most cost-effective in the market. Vecna Robotics is dedicated to helping companies, ranging from Fortune 50s to SMEs, reduce costs, improve throughput, and stay flexible and competitive.

Vecna is also dedicated to corporate citizenship and has donated more than 170,000 hours of community service and pays team members to spend up to 10 percent of their paid work week on a community service project. For more information visit https://robotics.vecna.com/ or contact info@vecna.com.

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Company Name: Vecna
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Website: https://robotics.vecna.com/