It’s no secret that process analyzers are more expensive than other measuring devices within your sampling system. Some organizations and procurement managers require justification for such expensive equipment in the form of a return-on-investment (ROI) analysis. Fortunately, much of the current process analyzer technology delivers a truly amazing ROI. However, some can result in a negative ROI due to poor system designs.
To calculate the ROI of your process analyzer technology, you will need to gather the upfront cost of purchasing an analyzer and the ongoing cost of ownership to understand your anticipated expenses. Then, note the expected benefits and resulting savings the analyzer enables—including improved production outputs and reduced downtime. Based on this analysis, your plant should ideally be able to report something like: “This analyzer saves us $1,000 per day!”
Every analyzer measurement aims to ensure that the desired amount of on-spec product is being produced safely and at the lowest cost. Multiple analyzers, operating either manually or automatically, will help your plant achieve this goal across three key categories: safety and environment, process control and quality assurance. Each one of these categories has its own unique implication on your ROI analysis.