Thursday, May 6, 2021
Traditionally manufacturers have had few financing options to deploy automation within their operations. Recent developments allow manufacturers to rent automation equipment, utilize Machines as a Service (MaaS), and guarantee equipment performance based on production KPIs. WMEP will explore these options with industry partners to give real-world case studies on options to bring automation into your facility. By attending this webinar, you will walk away with having an understanding of alternative financing models for automation that keep cash on hand and...
Read More →Wednesday, April 28, 2021
Robotics-as-a-service is a hot and growing space, and continues to rise in popularity due to its flexibility, scalability, and low barrier to entry. In fact, ABI Research predicts that there will be 1.3 million installations of RaaS by 2026. This is quite a significant number when you consider that there are only approximately 2.7 million robots at work in factories today. I wrote a blog post delving into this a few weeks ago that you can find here. One question...
Read More →Monday, April 26, 2021
We're often asked by manufacturers whether buying their own automation saves them money in comparison with Formic's "Full-Service Automation" model. The answer is: it depends. In some situations buying makes more sense, and others where Formic's usage-based pricing is better. To help our customers with this comparison, we've put together a framework for answering these questions, along with a case study for a real-world deployment. When buying automation, we suggest manufacturers consider the total cost of ownership & operation when...
Read More →Thursday, April 15, 2021
Time: 12:00 p.m. CT - 1:00 p.m. CT With the announcement of several Executive Orders, including the Buy American EO and the American Supply Chain EO, the U.S. government has renewed its interest in procuring American goods and services. As such, there are many opportunities for small businesses to secure government funding and participate in a historic rebuild of the American economy. But many small businesses are asking: where do I even begin? Join Formic and MxD for a webinar...
Read More →Tuesday, April 13, 2021
First, what are “as-a-service” models, and why are they gaining popularity? “As-a-service” models are defined by a good or service being made available “as needed” (this could be monthly pricing or usage based pricing). Upfront costs are usually negligible or non-existent. Contract lengths are flexible, allowing users to take advantage of the good or service only as they need it. The business assumes the responsibility for servicing and upgrades throughout the duration of the contract. These models have exploded in popularity...
Read More →Wednesday, April 7, 2021
Recently we published a blog discussing automation for manufacturing CFOs. We have received some questions on that post and so this is a follow up to that original post to answer those questions. Question: Should I be concerned if I install Formic’s automation solution that my manufacturing process could be negatively impacted if Formic’s machines break? Answer: Although there is always a risk that a machine can break, Formic has designed our process to limit the risk of downtime based...
Read More →Thursday, April 1, 2021
The job of a CFO has grown and evolved over the years. Many CFOs now have responsibilities that go beyond the traditional role of accounting and financial statements—to risk management, financial planning and analysis, expense reduction, treasury, human resources, mergers and acquisitions, technology, legal, etc. For CFOs at manufacturing companies, supporting and growing their business, often with a finite budget, while limiting risk can be challenging. US manufacturing companies exist in an environment where many positions go unfilled—hampering growth and...
Read More →Friday, March 26, 2021
There’s enough buzz around robotic automation in recent years that most manufacturers have at least tossed around the idea of whether it’s right for them. If the idea of growing your bottom line while improving processes and reducing costs excites you, then it’s certainly worth consideration. However, not all tasks can be automated or would benefit from automation. Once a tool limited only to manufacturing giants, industrial robotics are now more accessible and cost-effective for smaller manufacturers, opening doors of...
Read More →Friday, March 12, 2021
This nation was founded on the defiant idea that there’s nothing we can’t do. When we don’t see a solution, we roll up our sleeves and make one. A legacy we are proud to live up to. Every day, business is built by hand; reliable hands that don’t know the meaning of the word stop. Hands that do what they’ve always done, build solutions.We are that set of hands.Putting robotics in place within your operation. Solving your problems without creating any....
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