How Technology Has Changed The Way We Do Business
Over the years technology has changed just about every significant aspect of our lives. It’s changed the way we shop, the way we communicate and it’s changed the way we do business. Technology has allowed businesses to run more efficiently, lowering production costs and ultimately giving us products at more affordable prices. It isn’t just the consumer that has benefited from advancements in technology, industry has also reaped the rewards. Here is a list of how different sectors have used technology in recent years to their advantage.
Historically manufacturing was a process carried out by hand; in fact the term is derived from the word ‘Manu,’ which literally translates as using your hands. Today industrial robots do much of the work on the production line as the process has become more automated. This has meant that heavy goods such as cars can be produced more creatively and efficiently. Whilst an automated assembly line is not exactly new, advances in computer software has improved how it operates. Systems such as CAM Works (Computer-aided Manufacturing) improve productivity by incorporating intelligent machining through automation, using computers to control machine tools.
Many of the benefits that technology has brought to manufacturing have been passed onto retail. With goods such as DVDs and MP3 players mass produced at low costs the retailer is in a position to mark-up the price before selling it on to the consumer and increasing their profit margin considerably in the process. The biggest part that technology has played in retail however is undoubtedly the internet and the birth of e-commerce. Online shopping has allowed retailers to reach customers and new audiences like never before. Stores have also embraced technology with Electronic Point of Sale systems allowing them to keep track of stock while also helping to curb shoplifting.
Where once offices were filled with type writers, large cabinets, fax machines and filing systems, today’s modern offices have desktop computers neatly lined along desks eliminating the need for most of the paperwork. Software systems such as cloud computing have helped to revolutionise accounts allowing a company to keep track of its income and outgoing expenditure. Office suites have made typing memos much easier while Power Point has given a new significance to meetings and presentations. Email has also dramatically transformed how people communicate in offices with memos swiftly passed between departments and staff.