In any discussion of a process transformation or new technology deployment, calculating return on investment is essential. How long does it take for this initiative to pay for itself? With the accessible pricing of ProGlove wearable barcode scanners ROI is simple to estimate. The immediate productivity gains make it easy to see that the solution pays for itself in a very short time. Companies with high scanning volume will realize return on investment in less than 30 days. But even organizations with a comparatively low scan volume find a worthy rate of return. This is especially true because warehouse workers prefer the great fit of ProGlove’s rugged and sleek wearable scanner over other barcode scanners.
There are multiple measures to consider when assessing ROI for barcode scanners. Time saved per scan is an obvious metric to consider with a new solution for barcode scanning. Time is money after all. There are other less obvious considerations that deliver ROI too: worker mobility, satisfaction and safety chief among them. Done right, these can translate into lower staff turnover, fewer missed workdays, and fewer compensation claims for workers related injuries. So, what is the right ROI calculation for your business? Every company is different. Processes differ, the volume of scans varies, and much more. The ROI calculator (in USD, Euros, or GBP) is a great tool for assessing the numbers.
Time saved per scan
A clear metric of assessment for a wearable barcode scanner is time saved per scan compared to status quo and handheld scanners in particular. Depending on the ProGlove MARK model, you can expect to save 4-6 seconds per scan on average. Sometimes more. This little bit of savings per scan might not sound like a lot, but when you multiply that by the number of scans per worker per day and costs per station or shift, suddenly it is clear how this little bit of savings can add up to hours and days and weeks saved depending on the scope of your business. Time is money: goods may be delivered faster, overtime may be reduced, extra seasonal staffing might not be needed. When you pick the right solution, the ROI of barcode scanners is easy to see.
Worker mobility as a metric
The value of a more mobile workforce may not be immediately obvious. But think about it: by untethering your workers from classic fixed workstations for a mobile-first work environment you’re saving potentially thousands of footsteps across a warehouse or factory floor. More can get done in that time that was previously spent moving from point A to point B. In a retail store, imagine answering the question, “Is this on sale?” right at the moment it is asked instead of elbowing in at a terminal across the room. Or in a logistics environment, handling bulky goods exactly where and when they’re received. Or in a healthcare environment, processing patients with readily accessible wearables instead of the distraction of dragging around an awkward cart. By examining the gains you’ll realize with a mobile-first workforce it is possible to identify many thousands or millions of dollars saved over the course of a year, in addition to the lifetime value of more satisfied customers.
The value of worker safety
Repetitive task injuries are one of the most common reasons for people to miss work. According to the Northeast Business Group on Health, all told these kinds of injuries can cost the U.S. economy about $100 billion/year. With a lighter weight wearable barcode scanner, such injuries are less likely to occur than with a traditional pistol-style scanner. By one calculation, we discovered workers were lifting, over the course of a shift, the weight of a compact car in extra scanner weight alone. That can cause unnecessary strain. And while we’re on the topic of health and safety, it’s also worth considering the ROI of a barcode scanner with built-in proximity feature for social distancing. This is especially valuable for safety compliance during this COVID era. It’s also important to consider the value of having your hands free to properly grip a ladder, steering wheel, or to catch yourself in a fall. When you think about the ROI of wearable barcode scanners for your own place of work these are important factors to consider.
The benefit of worker satisfaction
It is with regular frequency we hear from workers that replacing their usual handheld barcode scanner with a ProGlove MARK wearable barcode scanner makes them feel like a superhero. And what do superheroes do? A lot of a good stuff. Though it isn’t easy to calculate the exact ROI of superhero status, it is common knowledge that a happier workforce is a more dedicated and loyal workforce and will result in lower staff turnover. There are always costs to consider in hiring and training new talent.
So, what is the right barcode scanner ROI calculation for your business? Every company is different. Processes differ, the volume of scans varies, and much more. Get in touch with us and we’ll help you estimate the ROI on barcode scanners for your business.
