- December 21, 2011
MILWAUKEE, WI | Rockwell Automation offers the free Safety Return on Investment (ROI) Tool with J.B. Titus, a machine safety consultant and owner of J.B. Titus and Assoc. The tool will calculate the potential annual return of investing in an integrated safety automation system.
Acknowledging the struggles of engineers and plant managers in cost-justifying investments in safety, the company says the tool relies on a basic calculation: benefits divided by costs equals ROI.
To help simplify the previously complicated process of assessing those costs and benefits, the tool combines injury and productivity data and collects input from users in five categories: estimated project amount; overall equipment effectiveness; increased capital-asset depreciation; direct injury costs such as such as medical expenses, wages, and worker’s compensation costs; and indirect injury costs such as noncompliance fines and repair costs.