Technological factors

• What are technological factors?

  Describes the ongoing development of invention, innovation and sharing of technology or processes.
• Automation 


  To use robotics to carry out repetitive tasks in manufacturing industry. These can be used in:

  • Retail (self checkouts)
  • Banks (replaces bank clerks and used to sell new products)
  • Warehousing (removing goods as well as packaging and transport)
  • Online services (can determine which products are marketed, which they will be placed and what prices are charged)
  • Utilities (gas and electricity)
• What is IT?


  Information Technology used to store and communicate business information to staff and customers
• What is internet marketing?

  The use of online resources to promote a company and its product or service to generate leads, drive traffic and increase sales.
• Web-based customer relationship


  A software solution where there is no hardware or software located on the customer's premises. Instead, the software is hosted on a range of data center servers managed by a third party.
• What is Business to business (B2B)?


   A transaction or business conducted between one business and another, such as a wholesaler and retailer.
• What is manufacturing resource planning 2 (MRP2)?

  Used by manufacturing businesses to plan all aspects of the business activity. It takes forecast and turns them into a series of objectives and targets for each function or department in an organisation.
• What is EPOS?


  Electronic Point of Sale. It is a system used in retail stores to process customer sales, enable payment transactions, and capture customer data.
• What is Computer aided design (CAD)?

  A 3D designing software used to model real world products before they're ever manufactured.
• What-aided manufacture (CAM)?


  Uses of computers/ machinery in the production of goods/ services.
• Robotics (CAM)


  Machines that undertake tasks originally done by humans. This speeds up the process and makes fewer mistakes.