technological developments Flashcards
technological developments
Businesses implement technology into their operations to improve efficiency and effectiveness.
strategies include:
1: AI
2: Computer-aided design
3: Computer-aided manufacturing
4: Online services
5: Robotics
6: Automated Production Line
AI
systems or machines that mimic human intelligence to perform tasks that are traditionally done by humans.
AI efficiency
1: speed up analysis of large amounts of data; eg, analyse customer demand
2: monitor materials to make sure no over/under-stocking
3: identify errors early before a product is complete and notify for action
AI effectiveness
1: improve decision making
2: improved quality of product being produced
3: speed up and improve customer service
AI disadvantages
1: high initial cost
2: incorrect assumptions/advice as relies on human data
3: ethical issues arise without regulation
4: possible job losses
Computer Aided Design
Software system that enables a product to be created in digital form, modified, analysed and tested
CAD efficiency
1: fewer resources to design a product
2: view product and provide feedback, preventing produce that market doesn’t want.
CAD effectiveness
1: viewing product before production & making adjustments to ensure it meets needs.
2: view 3D product to get more realistic perspective
CAD disadvantages
1: employees need to be trained, increased time and costs of implementation
2: software can crash, causing design delays
Computer-aided manufacturing
use of software and machinery that allow computers to direct and control the manufacturing process.
CAM improve efficiency
1: speeding up production
2: need for fewer human resources
3: ability to produce with fewer errors
CAM effectiveness
1: enhance product quality
2: easily provide customisations for customers
CAM disadvantages
1: cost of implementation. Initial investment & training
2: machines often only perform one type of task, reducing flexibility
Online services
allow businesses to connect with customers in some way over internet connection
Online services efficiency
1: reduced costs of operating
2: ability to monitor real time data, helping manage materials
3: communicate with customers with fewer resources
Online services effectiveness
1: increased accessibility, improving customer satisfaction
2: ability to monitor demand, helping plan for materials and production needs.
Online services disadvantages
1: increase distribution channels if being offering products abroad
2: require large investment to keep online services updated and running
3: need to invest heavily in data privacy
robotics
programmable machines that can operate tasks automatically. Performs repetitive tasks, allowing streamlined workflow. Both manufacturing and service industries
robotics efficiency
1: using fewer human resources
2: reducing wastage due to improved accuracy
3: tasks quicker than humans
robotics effectiveness
1: business to meet customer demand
2: improving safety
3: increased quality due to improved accuracy and consistency
robotics disadvantages
1) high establishment costs
2) ongoing maintenance costs
3) robotics may breakdown
4) may lead to job losses
Automated Production Line
APL is where a series of machines and workstations are arranged in sequence to perform tasks automatically with little to no employee involvement.
APL efficiency
1) using fewer human resources
2) reducing wastage due to improved accuracy
3) perform tasks quicker than humans
APL effectiveness
1) meet customer demand
2) improving safety
3) increased quality due to improved accuracy and consistency
APL disadvantages
1) high establishment cost
2) ongoing maintenance costs
3) if relies on APL, production may need to stop if machinery breaks down
4) may lead to job losses
