The Conveyor is used alongside several similar blocks to link inventories on a ship or station into a network. Once established, the conveyor network allows items to be easily transferred between blocks and will automatically move items as needed.
In limited experimentation it has been found that a conveyor block follows a pattern when checking where to dump inventory. If you orient a conveyor where the sides are all right side up, as shown by the label on each face, and the top has the writing on the far side, the conveyor will first try and dump right, then left, then to the back. This information can help with routing assembler inventory dumps to prevent pile up.
For more information on the conveyor system, go here.
The Conveyor consumes 40 W of power when connected to at least two inventories. This value is the same for small ships, large ships, and stations.