Calculating The ROI & Benefits Of Voice Picking
Picking is among the most labour intensive operations within the warehouse, making it one of the most likely supply chain processes that can be improved with voice technology.
Voice is proven to have significant, positive impacts on productivity and efficiency by cutting operational costs, increasing worker productivity, improving customer satisfaction, and enhancing operational agility.
To calculate a solid return on investment (ROI), it’s critical to quantify the financial benefits that reduce existing costs in labour, operating expenses, materials, inventory and fixed assets. Don’t miss out on our special voice promotion below.
Voice Picking generates savings in multiple ways:
Voice Picking generates savings in multiple ways:- Accurate order fulfilment, the first time.
- Increased picker efficiency (e.g., more lines picked per hour; less overtime).
- Faster training and onboarding of new hires and temporary associates.
- Reduced quality assurance (QA) staffing, as fewer audits are required.
- Decreased staff turnover and improved worker engagement.
- Increased safety, resulting in lower insurance costs.
- Efficient regulatory compliance.
- Inventory optimisation with reduced holding costs.
- Fewer administrative, fixed asset and consumable overheads.
- Real-time visibility and integration to business system decision-making.
Take our Voice Quiz – Is voice picking a solution for your operation?
Calculating ROI: Common approaches:
Calculating ROI: Common approaches:Multiple analysis methods are available to determine the financial viability of a voice project. The most popular and most effective include:
- Break-even on year 1 investment (in months)
- Return on investment (ROI)
- Net present value (NPV), at a given discount rate
- Internal rate of return (IRR)
- Project income statement (accrual basis)
- Project cash flow statement (excluding depreciation)
In Summary:
With the availability of voice technology to address a wide range of fulfilment applications, companies can realise significant ROI and quicker payback.
Interleaving operations and expanding across the warehouse are just two of the intangible benefits of applying voice technology to more applications. Being able to track accurate inventory location and levels at any point in time fully drives velocity and efficiency in a fulfilment process and aligns operations with customer demand — without sacrificing service levels.
Voice has proven its value and over-delivered in its results time and time again; the time to invest in voice technology to improve the bottom line is now.
* Special Honeywell Voice Promotion:
Honeywell are currently running a special promotion until 30th September 2022, which allows you to upgrade your current Honeywell Voice devices to their latest A700x series devices. You will receive a substantial rebate upon return of the original devices*. Contact us below to find out more.
Special Honeywell Voice Promotion
Contact our voice specialist today
* Subject to terms & conditions
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