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Technology
The equipment and knowledge available to assist a business to function and create products.
Technological developments list
Can’t Always Remember Acronyms Clearly, Obviously
Computer-aided design (CAD)
Automated production lines
Robotics
AI
Computer-aided manufacturing (CAM)
Online services
Automated production lines
Process where raw materials enter and finished products leave with little or no human intervention.
Compromises of machinery & equipment arranged in a sequence with components added to a good as it proceeds through each step, controlled by a computer.
Advantages of Automated Production Lines
Business can produce at faster rates = higher output + increased productivity
Reduced need for human labour = business can produce at reduced costs + increased productivity
Use of robotics = precision & speed + can continue for long periods
Disadvantages of Automated Production Lines
COST - robotics = unaffordable for small/medium-scale manufacturers
Cost to maintain/replace
Training required so employees are familiar w/using it - costly (time & money)
Must spend downtime for repairs/updates/changes for tech to work consistently well
Robotics
The combination of science, engineering and technology that produces machines called robots.
Used in engineering, specialised areas of research, on automated production lines
Advantages of Robotics
Allows production to continue for long periods (work without complaint/demand for wage rises, in conditions that may be unacceptable for employees)
Precision & speed in production
Reduced need for human labour = business can produce at reduced costs + increased productivity
Disadvantages of Robotics
Costly - unaffordable for small/medium scale manufacturers
Costly to maintain/replace
Must spend downtime for repairs/updates/changes for tech to work consistently well
Difference between Robotics and Automation
Robotics involved the use of robotics to create products through the control of workers, whereas with automation, the machinery does it by itself.
Computer-aided design (CAD)
Computerised design program that facilitates creation and modification of product design. Allows the business to create at 3D view of a product from a series of input parameters.
Advantages of CAD
Can produce product designs at faster rates, without erasing & redrawing
Can view design from multiple angels = design & end user can visualise the outcome
Can produce a 2 or 3D computerised version of a product = changes can be made before prototype
Disadvantages of CAD
Computer software can crash = possible loss of work
Costly for software
Costs + time to train staff = can deter many from using CAD
Potential loss of jobs
Computer-aided manufacturing (CAM)
Involves the use of software and machinery that allow computers to direct and control the manufacturing process.
Machines are fed programmed instructions from a central computer
Advantages of CAM
Business can produce at faster rates at reduced cost
Business can produce w/ greater consistency + accuracy (each finished product is the same, no errors)
Business manufacturing process can become computer-directed by controlling the process = greater efficiency bc machines controlled by computers won’t need breaks
Disadvantages of CAM
Computer software can always crash = production ceasing
CAM systems & machinery are very expensive + business make make big upfront investment
Cost & time to train staff = can deter many from making big upfront investment
Generally designed for specific tasks - not versatile
Artificial intelligence (AI)
The ability of a computer or robot controlled by a computer to do tasks that are usually done by humans because they require human intelligence and judgement.
Advantages of AI
Able to learn from past bad ratings - ensures max customer satisfaction
Perform basic tasks = allows manufacturers to better plan production schedules + reduce workload
Online services
Can be provided by a business through a website, which is a connected group of pages on the internet.
Includes:
Websites
Social media
Smartphone apps
PayPal
^Website
Can be used for marketing, operations or for customers to browse products, book appointments or communicate w/ a business.
Advantages of Online Services
Website - a business is accessible for sales 24/7
Reduces costs of labour & leasing/purchasing a physical space
Can be used to deliver consistent messages to customers & suppliers + for customer feedback
Disadvantages of Online Services
Developing a website may be expensive + time consuming
Operating websites/apps can require highly skilled staff - may be expensive to train/employ
Websites/apps can suffer outages or ‘go down’ = frustrating to customers = loss of sales/affected reputation