Impact of Technology

Question 1

Computer Aided Design

Answer 1

• Designers can simultaneously work on the same model from different countries.
• Models can be easily modified to suit customer needs.
• Much faster process.

Question 2

Computer Aided Manufacturing

Answer 2

• Software that controls the machinery, in order to manufacture the product with incredible precision.
• Faster and more precise than humans.

Question 3

Electronic Point of Sale (EPOS)

Answer 3

• Much better control over stock levels so know when to order more stock.
• This can be linked with JUST IN TIME PRODUCTION which means you order new stock just before you run out so that you don’t need to store it.
• Automatic re-order.
• These aren’t even staffed these days.

Question 4

Advantages of technology for a business

Answer 4

• Increased productivity - fewer resources needed, faster production.
• New opportunities - new products, new markets, new methods of production. Always good to be ahead of the game - COMPETITIVE ADVANTAGE
• Reduction in waste - use recourses more efficiently, this saves cost. Elimination of human error.
• Improvement in communication - faster decision making.
  Flexible working - employees can work from home, can meet over Skype.
  Wider marketing reach - Facebook, Twitter and YouTube completely changed the way public relations functions work, entire new job roles were created.

Question 5

Disadvantages of technology for a business

Answer 5

Costs - Initial capital investment, training costs, cost of redundancy.
Uncertainty - it’s difficult to know when to invest in technology as it is so fast moving it could be obsolete in a year. Investment also creates uncertainty for staff, skills and job security - demotivation - productivity.