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1. Leading edge technology is the technology that is the most advanced or innovative at any point in time.
1. Leading edge technology is the technology that is the most advanced or innovative at any point in time.
Leading edge technologies are created by innovative processes and innovative thinking. When innovative inputs are created, new products can be made, which can change markets.
Example
Consider the current development of nanotechnologies and use of nanoparticles that allows for water to be purified when scooped into water bottles. This is revolutionising the cosmetics industry and has medical applications.
Benefits
Benefits
- Can make the business more efficient
- Can help with marketing and branding by making the business 'cool' or 'futuristic'
- Can be safer
- Can allow the business to make more profit by producing more and lowering labour costs
Negatives
- Potential to break - leading to reduce brand loyalty or loss of customers
- Usually more expensive
- Could be unreliable
- Require different skills and to train employees which increases costs in both $ and time.
2. Established technology is technology that has been developed and widely used and is simply accepted without question.
2. Established technology is technology that has been developed and widely used and is simply accepted without question.
• Barcoding and point-of-sale (POS) data for inventory management
• Robotics for complex and detailed manufacturing
• Computer-aided design (CAD), computer-aided manufacturing (CAM) and computer-integrated manufacturing (CIM) for integrating transformations processes
Activity
Activity
1. Discuss using established technology vs leading edge technology for a manufacturing business 6 marks
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