What are some points to analyze regarding process technology?
Breakeven Analysis
Break Even Analysis is a term used in business, cost accounting and economics. It refers to a point where the total cost incurred becomes equal to the total revenue earned. Break Even Analysis determines the number of units to be sold to earn the revenue required to cover the total costs. Total cost is a sum total of fixed and variable costs.
Process analysis
The term process analysis can be defined as breakdown of production process into different phases that converts inputs into output. A series of routine activities are incorporated using organizational resources with a view to achieve operational excellence.
What are some points to analyze regarding process technology?
Process Technology is a way to establish a complex of interrelated and mutually involved matters including arrangement of equipment and furniture, organization of all productive resources, human labour, workflow, supply, tools and utilization of certain methods to convert the efforts into profit.
Characteristics of Process Technology
- Most process technology meant conventional manufacturing technologies. When dealing with process technology that has significant amounts of information-processing embedded in it, the dimensions need changing.
- Scale becomes scalable.
- Automation becomes analytical content.
- Coupling becomes connectivity.
- The above-modified dimensions are not a direct equivalent to the three original dimensions. Instead, they are replacement dimensions.
- The scale is less important when technology can be brought together on an ad hoc basis because it is scalable.
- Automation as such is not relevant when all technology to some extent replaces human decision-making. More important is the extent to which it replaces human decision-making; this is its analytical content.
- Coupling was traditionally associated with the rigidity that comes from integrating physical technologies. But this rigidity can be overcome in IT-based technologies when they can easily communicate with each other because of their connectivity.
- These developments to some extent have changed the nature of the trade-off between cost and flexibility. There may still be a trade-off between cost and flexibility but the actual cost performance and flexibility performance of the technology is better than it used to be.
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