The Progress of Technology and the Manufacturing Sector
Technology progress has enabled us benefit from a higher level of comfort than ever before. Everything we need is at the reach of our fingertips today, when mobile devices and computers have become staples in so many households of the civilized world.
Modern technology has scored a major impact on the manufacturing sector. It enabled businesses in these industries increase their production and become more efficient than ever before. Productions lines are known for their ability to churn out thousands of items per day, without getting tired or having to take breaks from their work. While this may seem to be a positive thing, it comes with a major downside. The more businesses benefit from automation, the less they require workers. This may result in an increase of the unemployment rates among unskilled workers and very young people. These social categories are having a hard time at finding jobs, as business owners aren't willing to pay the minimum wage for such unskilled work. They prefer to use automation instead, as a cheaper and more efficient way of doing things. Even McDonalds announced their intention of using an automated system to take orders from drivers instead of human workers. This measure is a direct consequence of the intention of the government to raise the minimum hourly wage to $15 per hour.
As a matter of fact, advanced technology is good, and humans should take advantage of it the as much as possible. The mistake belongs most probably to governments, as they want to interfere with the employment market. By regulating the minimum wage, they rule out people who don't have any skills, yet need jobs to pay their bills and feed their families. Apart from this issue, implementing better manufacturing lines has only advantages. It enables manufacturers to keep their prices low. This would allow more people to afford various products, manufacturers and retailers being able to make nice profits by selling more items rather than by increasing their prices. Low operating costs are one of the main ingredients of a healthy market, regardless the industry being analyzed. Global economic expansion stimulates industrial manufactures to expand their operations to new territories and to invest in new, modern technologies that can help them boost their productivity levels without compromising on quality.
Manufacturers who understand the need for embracing technological advances are going to dominate their markets. When you are extremely productive, you are better prepared to compete against your rivals and attract customers on your side. Consumers want affordable quality, so they are always going to choose companies that can offer them a good life without huge expenses. While luxury niches and brands are always going to have their target market, mainstream products can only survive if they are reliable, effective and fairly inexpensive. This is our modern society, and those manufacturers who understand that technology progress can help them acquire a larger market share will be the winners. All others will strive to survive and will eventually be bought by bigger players in their markets. This is the dynamic of the manufacturing sector and the way it is influenced by technology.