Application of technology in business operations
Technology in business is a developing necessity among many industries. The present business world is learning more about technology in order to move their business to the next level. They are looking for the latest innovations in the technology industry that will breed their business. Business would not be the same if not for the advancements in technology. The growth and availability of technology in business have led to high growth in commerce and trade. The business models and concepts have revolutionized because of the introduction of technology. This revolution has given business new and better approaches on how to deal with challenges in business. Technology has made business to be able to reach a global market. Beside technology has made living worthwhile. There are technological threats, thus organization should be responsible for utilizing the power of technology wisely. Therefore despite the many advantages of technology, there are also some disadvantages. Using these technologies in a responsible manner would make the business and the world in general to enjoy the benefits that technology brings. This report discusses how technology can enhance efficiency in business markets.
Technology has been applied in manufacturing through the use of robotics. Robotics are used to do repetitive tasks and also tasks that are hard for humans to perform because of the physical constraints like getting into a very small place. Use of robotics in tight space has increased at a high rate as the market for miniaturized electronics has grown (Tao, et al., 2014, pp. 1436). Some robots may perform tasks independently while others may collaborate with human workers to complete their work. Robotics may be useful in manufacturing processes that involve variable which is not safe for human-like ergonomic issues or release of chemical or fumes, and gas. Therefore, manufacturers can make use of robots in order to create a lower-risk and safer environment (Forum, 2016). By using of the offline stimulation tools, an individual can create a blueprint of the production floor in advance then install robotics solution. This allows individuals to reduce the risk since they have not yet invested in the space and hardware platforms.
Another technology that is applied in manufacturing is the internet of things (IoT). During the manufacturing process, many data sets are needed to track, measure, and improve both productivity and quality (Vaezi, Seitz and Yang, 2013, pp. 1730). Using human in collecting data consumes more time, prone to error and may seem impossible in some situation. Using IOT such as the sensors applied on production floor can help manufacturers to see real-time data from those sensors and have the recent information that will assist them to make real-time decisions. The manufacturing sector also uses IOT data to gather data on their overall work processes in relation to general quality performance.
Cloud technology gives manufacturers the ability to integrate processes and allows them to access their systems and data from anywhere. Using cloud assists manufacturers to optimize resources, improve time to market, and improve the user experience. Manufacturers can also enhance the cross-enterprise collaboration with their suppliers (Patton, 2014, pp. 910). Since ERP makes manufacturing process easy, manufacturing firms should add a cloud-based ERP that will allow for faster growth and development.
How technology have improved the quality and speed in manufacturing
Use robotic technology in manufacturing has led to consistent quality in the manufacturing sector. Robots decrease the human error by consistently performing extra work repeatedly as long as it’s required to. This leads to a high level of production and quality outputs. Robotics has assisted manufacturers to increase the scale of factory automation in the past three decades. Due to the increase in automation, there have been high rates of production, enhanced quality with reduced human intervention requirements and elation of the nature of work by taking people away from dirty, dull and dangerous tasks.
Additionally, robots can increase productivity. Using UOT technology in manufacturing, data collection is immediate which provides managers with a real-time view of the production floor. When IOT is combined with analytics software, it assists manufacturers to collect large data compared to humans hence making it easy for the manufacturing process. Data analysis helps manufacturers to make good business decisions which lead to enhancement of their services hence providing better services, products, and better quality goods (Lian, Yen and Wang, 2014 pp. 29). Production workflow by optimized production and atomized processes leads to the improved production of goods. In addition, cloud technology has helped the manufacturing sector to collect greater data around user preferences and behavior that allows them to enhance the processes and improve product designs.
Use of ERP data systems provides seta of data that tend to show patterns and this makes it easy for manufacturing industries to predict shifts in demand. This view contributes to forecast accuracy and ability to maximize manufacturing schedules and taking action across the warehouse areas. Cloud technology with the use of ERP, IMS and analytics enhances speed since the systems are created to optimize inventory, order fulfillment and management hence manufacturers are able to see revenue and profit growth gains. In addition, product quality comes as a result of an incomplete or incorrectly created order. Errors in quoting, pricing, delivery instructions or product configuration, all introduce errors, reduce product quality and slow down orders (Lee and Lee, 2015, pp. 520). Therefore, using a cloud-based application in automated pricing, customer approval and quoting helps to decrease order cycle time thus improving quality.
With the evolution of technology and market, manufacturing industries have always tried to handle variety and manage volume capabilities Brogan (Rylands,et al., 2016, pp. 970). The industries have designed classical dedicated systems to enable the production of a large volume of goods with a minimal variety of products. Additionally, flexible manufacturing systems have been developed to handle less volume but a great range of variety where and when needed. When companies deal in product variety and respond to changing production volumes can assist them to match their customer’s tastes and preferences hence increasing their market share in the present heterogeneous consumer markets. However, offering a wide scope of product variety and high volume response involves a high cost to produce and lower economies of scale while market share and sales volume increases operations and logistic expenses (Lambert and Davidson, 2013, pp. 781). Therefore the optimal strategy of the volume and variety should be considered in order to achieve a balance between cost and flexibility in the manufacturing sector.
How technology investment decisions are made
The present manufacturing industries are encountering continuous challenges in the environment they operate. Manufacturing industries make their decision considering the high rate of introduction of new products, time to time modification of the existing products and abrupt changes in product demand (Deradjat and Minshall 2017, pp. 98). However, due to time and cost involved, it may be difficult for the manufacturing industry to manage product variety and at the same maintain system performance. Therefore, the organization can build indicators to quantify and asses the flexibility of the product by integrating product-resources interfaces information. On the other hand, the company should carry out effective management of product variety since it is important in the provision of the competitive advantage for the company (Bi, Da Xu and Wang, 2014, pp.1559). For a company to achieve product flexibility, the manufacturing company can introduce delayed product differentiation. This is a design focusing on increasing product variety and efficiency in manufacturing. Product flexibility which is the ability of the manufacturing companies to produce a variety of part types using the same equipment or machines.
Business organizations face almost the same challenges in adopting new technology. Adopting new technology because it is new is one of the challenges business face. Technology may be useful but some may be designed just to sell. Business organizations should carry out a detailed research on any new technology before deciding to buy it or they will risk having paperwork expenses. Another challenge is the lack of training staff adequately on how to utilize the new technology. Employees of a company require training on every technology adopted in the company (Wu, et al., 2013, pp. 568). The company should not assume that since the technology is similar to what it is using, employees will be able to use it. Training is an expense to the organization and many organizations run away from it to save on costs after spending a lump sum of money on the new technology. Companies also face the challenge of not monitoring the data. The greatest advantage of new technology is that an individual can control many data points to get information about how it is used and how effective it is (Kasie, Bright and Walker 2017, pp. 210). Keeping a close watch on data and progress may seem tedious and unnecessary especially when an individual is watching both the employees and the company.
The company should put in mind that monitoring its data on the newly adopted technology is the most efficient way to measure progress towards achievement of goals. Not implementing the correct systems and process can also be a challenge to an organization. A new technology must be coordinated into the operating business processes to maximize its full potential (Alshamaila, Papagiannidis and Li, 2013 pp. 260). After a company has bought the new technology, the existing procedures and systems should be adjusted to incorporate the new technology. This will limit the need for extra training and disruption. Additionally, failing to win employees over to the adopted technology is a challenge to a business organization. Some individuals may be resistant to accept the change while others may be ready to learn how to use the new technology. For the adopted technology to succeed in an organization, the managers should win the technology over their subordinates (Yang, et al., 2018, pp. 7650). The company should make the employees see the positive effects of technology since this will make them excited about the benefits.
Challenges in adopting new technologies in business organizations
Conclusion
Since technology has been a growing necessity in the present world, many industries have adopted to ease the operation in their various sectors. In the manufacturing sector, robotic technology has been applied to do repetitive tasks that are hard if left in the hands of humans because of physical constraints. Cloud technology on the hand helps manufacturers to integrate processes and allows them to assess their systems and data from anywhere. The IOT technology is used by manufacturers to gather data on the overall work processes. Use of robotics, cloud, and IOT technology enhances the speed and quality of goods in the manufacturing sector. Robot reduces human error hence leading to the production of high-quality goods. However, using the cloud in automated pricing and customer approval decreases order cycle thus improving quality. Business organization face the following challenges in adopting new technology; adopting new technology because it is new, lack of training staff, not monitoring data, and failing to win over the employees on the new technology.
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