Role of Automation in industries

• Manufacturing processes, basically, produce finished product from raw/unfinished material using energy, manpower and equipment and infrastructure.

• Since an industry is essentially a “systematic economic activity”, the fundamental objective of any industry is to make profit.

• Roughly speaking,

Profit = (Price/unit – Cost/unit) x Production Volume (1)

So profit can be maximized by producing good quality products, which may sell at higher price, in larger volumes with less production cost and time