Rapid technological advance is a double-edged sword
Summary
In 1936, Charlie Chaplin tried to keep up with an assembly line with his arm frantically flailing as he twisted wrenches with both hands in the classic movie Modern Time, an iconic moment in the cinematic representation of manufacturing. Luckily, non-stop technological progress has created new opportunities for manufacturers to reimagine their business operations, with efficient automation solutions that maximise productivity while preserving employees’ wellbeing. It generally takes a team of four workers four hours to wash a plane manually and wet and slippery ladders may lead to injuries. If one of these devices stops working and needs replacing but the companies are not prepared, the consequences can be serious as every minute of down-time can cause a huge financial loss. However, with a proactive obsolescence management strategy, manufacturers can understand the risks and vulnerabilities their businesses may face.