Final answer:
True, the Internet of Things can help organizations boost manufacturing efficiency and productivity by enabling automated processes, improved monitoring, and data analytics for optimizing operations. While modern technology may occasionally fail to deliver its time-saving promise, IoT in manufacturing generally contributes to the advancement of the information economy and reduces the need for human labor in production.
Step-by-step explanation:
True. The Internet of Things (IoT) can significantly help organizations improve the efficiency and productivity of manufacturing processes and operations. This integration of technology allows machines and devices to communicate with each other, leading to automation and better monitoring of manufacturing processes. By analyzing data collected from IoT devices, companies like the hypothetical Technotron can optimize their operations, reduce costs, and increase output quality, often with fewer workers. These advancements contribute to the creation of a postindustrial economy, where physical product manufacturing costs are lowered, and distribution methods shift towards digital platforms. Overall, the IoT fosters an information economy where the ability to process and utilize data effectively becomes a competitive advantage.
As mentioned, the use of computerized robots and other automated systems have reduced the need for human labor in factories, which enhances operational efficiency. Furthermore, the expansion of the global economy and the growth of internet-based industries suggest a continuous evolution of how businesses operate and manage their production workflows.
Despite the potential time-saving advantages of modern technology, there are instances when technology does not deliver on its promises, such as slow internet connections or system inefficiencies. Nonetheless, the overall trend indicates that IoT technologies are advancing industrial productivity and shaping a new economic landscape.