Improving the utilization of new technology in manufacturing industry

Advances in technology have moved manufacturing organizations toward a new competitive landscape in terms of improved product market characteristics, improved plant capacity and flexibility. With the liberalization and globalization of today's economy, a lot of pressure has come on the organisations in developing countries to perform better in the coming days. For that reason, the companies' related to industrial production should try to improve their technological status by implementing advanced manufacturing technologies through joint ventures or licensing agreements. It comprises of five phases: literature review, survey of manufacturing industry by employing strategically designed questionnaire, conduction of case studies in different organizations, the inferences drawn from the survey and case studies have been synthesized for the development of implementation plan. An implementation plan has been suggested to equip the technology manager with number of options such as optimism, pessimism and averages for exercising the freedom to manage the industrial situation through flexible system methodology.