Question

What are the challenges management accountants and companies face in adopting this tool/technique (Advanced Manufacturing technologies (AMT) ) ? Use appropriate case example(s) where applicable.

Answer 1

Technology challenges

• Rapid shrinking of the supplier due to the outsourcing of manufacturing activities resulting negative impact on the technology development.
• High level of investment needed in R&D and high risk factor makes technology developers to become a big barrier to technology-based innovation.
• Availability of special Materials, understanding of its characteristics, evaluation technique and processing for designs.
• Simulation capability of electronic device fabrication lags to cope up with the technology development.
• Globally linked manufacturing and enterprise systems and migration to cloud sharing also highlight the increasing need for cyber security and robustness of IT infrastructures.

Examples

1. Industrial Internet of Things

2. Big data

3. Cloud computing

4. Additive manufacturing(AM)

5. Advanced robotics

6. Augmented and virtual reality