In the article ‘the impact of technology on form’s production efficiency, product quality and productivity’ by Matt and Jim confirms that technology has great influence on the productivity of a firm. The use of new technologies in the production of a firm leads to increased gains and profits. This case is due to the improved ways of tackling difficult tasks and improved product developments that come along with new technologies. New technology leads to increased production efficiency and productivity of a firm through product quality development. The article demonstrates how information technology provides low input in production leading to high output thus high productivity. The article also explains how technology does not always lead to increased profits in a firm. Investment in some advanced forms of technology may lead to decreased productivity of an organization. the information provided in this article is credible enough since it provides clarity to the assumption that technology always increases a firm’s productivity. The article descries that the productivity of a firm is determined by other factors apart from technology.
Haeffner, M., & Panuwatwanich in their article ‘Perceived impacts of Industry 4.0 on manufacturing industry and its Workforce’ confirms that technology improves the production in a firm. A firm’s production process is basically determined by the customer needs. Change in technology influences the customer needs thus influencing the manufacturing process of certain products. New technologies demand for product development to meet the customer needs. This article describes how firms are forced to change their workforce to more skilled workers who can manufacture the developed products. With the use of computerized systems in firms the manufacturing process has become more effective and efficient. Therefore, the firm is able to enjoy increased profits since the products fit customers preferences. Improved technology lead to quality production in a firm.
References
Haeffner, M., & Panuwatwanich, K. (2017, September). Perceived impacts of Industry 4.0 on manufacturing industry and its Workforce: Case of Germany. In International conference on engineering, project, and product management (pp. 199-208). Springer, Cham.
Thatcher, M. E., & Oliver, J. R. (2001). The impact of technology investments on a firm’s production efficiency, product quality, and productivity. Journal of Management Systems, 18(2), 17-45.
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