ABSTRACT
In this chapter, the authors deal with all those effects of new technology other than its effects on human beings and their organisation. They describe the kinds of new technology which are applied in a typical manufacturing industry—engineering. The authors discuss some of the effects which new technology has on the performance of activities within the factory or the office and on products and services. They explain indirect effects on capital and output in the rest of the economy, arising from the deployment of new technology in some industries. A survey by the British government's National Economic Development Office has shown that the deployment of such new technology can reduce a typical engineering company's material costs by around 14 per cent. A computerised inventory control system can handle bills of materials, inventory recording and control and purchase ordering and control.
