Question

Please list and discuss the roles played by the concept of new technology as it relates to the decision to build factory #5: Even if sales volume is flat, profits are low, and interest rates are high, why would a firm desire to build factory #5, at least in theory?

Answer 1

Ever since they were able to be adapted to processes, automation , robotics, and processing innovations have played a major role in manufacturing. These innovations dramatically altered the store floor and distribution chain as a whole, which was highly positive in the eyes of producers. In processes, industrial innovations have greatly improved productivity and efficiency, eventually reducing waste and expense within the operation, ensuring much more benefit for the overall operation. Since industrial technology has been more important than ever, the major role it has played in industrial is important to recognise. Therefore, five insights into how technology plays a role in modern development are offered here.

Fast-Growing Producers are More Technology-Oriented-In terms of competitiveness and keeping alive in the market, being technology-oriented within the production facility is critical. Assigning value to technologies within the activity would help enhance competitiveness and increase performance. Robotics and Automation-Robotics has gained a lot of media coverage, but this was not the primary concern. Investments in industrial technologies have been split into robotics and advanced engineering, modern materials and composites, advanced process management, and cyber protection. Safety as a Threat-Variables are getting "smarter" and much more cloud-oriented, rendering them more vulnerable to intrusion and infiltration. This raises the need for new cybersecurity methods to prevent any future violations of security.