Factory Automation: How We Pull Through Our Looming Recession
It’s no secret that factory automation has played a huge role in pulling us out of past recessions. By automating the manufacturing process, companies are able to produce more products with fewer employees. This not only saves the company money, but it actually helps to reduce the number of people who are unemployed.
In today’s economy, factory automation is more important than ever. With so many people opting out of the labor market, we need to find ways to increase production with the same number of employees. Factory automation is the perfect solution. Not only does it save companies money, but it also helps to reduce unemployment.
When inflationary pressures start to build, the first thing that usually happens is that companies start to cut back on production. This only exacerbates the problem, as it leads to even more people losing their jobs, lower inventory, and thus, higher prices. But if companies were to invest in factory automation instead, they would be able to maintain or even increase production levels without having to lay off any employees or raise prices.
Factory automation is thus the key to pulling us out of a recession. By automating the manufacturing process, we can keep production levels high while simultaneously reducing unemployment. It’s a win-win solution that we should all be supporting.
Furthermore, as the inflationary pressure continues to increase, so do costs of goods. However, with automation, businesses are able to maintain their profit levels, as they don’t have to worry about the variable costs that come with hiring more employees. This can then be used to fix the final price to the end consumer, and prevent the ever escalating prices that come with inflation.
As the Federal Reserve continues to look at interest rate hikes, so too will the cost of borrowing capital. This does mean that financing factory automation will continue to get more expensive as these hikes continue.
If you’re running a factory, and have lots of manual processes, we urge you to read our article on rationalizing automation – it’s more affordable than you may think.
Factory automation is the key to helping us get out of this recession, and we urge more companies to invest in it. It’s a win-win solution that will help to increase production levels while simultaneously reducing unemployment. So let’s support factory automation and help pull ourselves out of this economic downturn.