Implementation and financing of modern technologies in the production process

Bardarova, Snezana and Postolov, Kiril (2019) Implementation and financing of modern technologies in the production process. Novi Ekonomist: Journal of Economic Theory and Practice (25). pp. 90-95. ISSN 1840-2313 (Print) 2566-333X (Online), Vol 13(1)

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Abstract

This paper aims to process and demonstrate the implementation of modern production technologies and their financing. If are taken in consideration all the technological advancements from the last decade, it’s clear that new, modern technologies have entered into every sphere of our existence, changing the way we communicate, learn and work. They didn’t bypassed the production. Today, the production process can’t be imagined without automated machines that quickly and efficiently perform the work. They are shorten the cycle time from the input of raw and materials to the output as a finished product. Further, the main component slowly becomes the Internet and all the opportunities that it offers as far as the complete coordination of the factory with all levels of management is concerned. But the implementation of modern technologies is conditioned by financing, ie investments that production companies need to make. There are many sources of funding that they can use including own and other sources. Although sometimes modern technologies can significantly reduce the company's budget, they are the main guide to the fight against competition. Without them, can’t count on increasing productivity and efficiency in operations. This makes modern technologies an inevitable part of the revolution in the production of today's time for which technologies are aware both producers and consumers.

Item Type: Article
Uncontrolled Keywords: modern technology, investments, robots, improved reality, nano technology
Subjects: Social Sciences > Economics and business
Divisions: Faculty of Tourism and Business Logistics
Depositing User: Snezana Bardarova
Date Deposited: 13 Jan 2020 10:54
Last Modified: 13 Jan 2020 10:54
URI: http://eprints.ugd.edu.mk/id/eprint/23252

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