Electronics & High Tech. In a world of advanced technology the quest to build the best electronics takes an entirely new direction. We all know that electronics and high tech have put man on the moon, and is on the brink of putting man at the top of the longest sea-bed on the planet. As human society continues to progress with time new technologies rise for mankind’s benefit; whether to create life more easily through electronic gadgets for personal use, attempt to put humans on another planet and improve the quality of life or to attempt to put habitats of human beings on Mars.
Electronics & high tech is not an easy task as there are many challenges along the way. There are many theories and new technologies are constantly coming up, making the industry highly dynamic and unstable. Electronics & high tech industry 4.0 is a theory which postulates that if we can manage the changes that come from the changes in the market for better customer satisfaction and profit margins Electronics & high tech will then be able to manage the changes and emerging trends with better service and product design and the overall improvement in the industry. The idea behind this concept is to use new technologies to manage the change, rather than trying to prevent the change taking place.
It was also believed by many industry analysts that the future would see new innovations in every industry, and therefore change would come in almost everything. The present theory of Electronics & High Tech Industry 4.0 looks into the possibility of managing the change and evolving with it. By understanding the need of both clients and suppliers in an electronic field, a new theory of industry analysis and business process oriented strategy can be formulated. With a better understanding clients will be able to provide higher quality and less cost and also they will be able to provide better support to their end users. Suppliers too will be happy to avail of lower prices because they too can run profit margins.
The main challenge in the industry is the high dependency on imported goods from abroad which is directly effecting the price of raw materials. This results in lower prices for the end products and competitive advantage to the foreign companies. To overcome this there are various new technologies are being developed, the latest being RFID technology in which the manufacturing industry can utilize RFID tags or chips to track and monitor products. These tags are capable of storing data and the location of the product thus enabling the company to track the product wherever it is and thus enabling the supply chain to streamline itself and reduce inventory wastage.
Another emerging theory in the electronics and high tech industry is that of advanced and new material science. With the advent of digital technology and 3D printing the manufacturing industry can make use of solid state material like aluminum and semiconductors. Often used as components in electronic components, these materials offer much greater capability for the manufacturers. This allows the manufacturers to design and structure the components to the specification of the client. Hence reducing cycle times and cycle costs.
Some manufacturers feel that by virtue of automation and reduction in man hours they can improve their manufacturing process and thereby make the process cheaper. However this can only be possible if there is a proper planning and allocation of the required man hours. Another emerging theory in the electronics and high tech industry suggests the use of machinery in the form of robots. Robotic arms are capable of handling repetitive tasks thereby allowing the manufacture process to be reduced down to two thirds which again would allow the manufacturing industry to remain competitive.
In fact the industrialists of this industry feel that it is possible to reduce costs by as much as half by implementing automation and other technologies. Such reduction in costs would enable the electronic components to enter into the consumer market at a much lower price. This would encourage more manufacturers to produce these products in bulk. Therefore increasing the competition in the manufacturing industry.
The electronics & high tech industry is definitely looking towards automation for its production processes. The reduction in labor cost and increasing production would automatically lead to increase in profit. However one has to remember that each new technology will also require new management techniques to be adopted. Hence as the manufacturing industry develops better tools, factories have to be upgraded to accommodate these tools. Also the way things are going global manufacturing may become necessary.