Final answer:
The process described is computer-integrated manufacturing (CIM), where a computer controls and integrates the entire production process.
Step-by-step explanation:
The scenario described in the student's question refers to a system where a computer controls the production process by transmitting signals to machinery, dictating the steps and order of operations. This is an example of computer-integrated manufacturing (CIM). CIM is a method of manufacturing in which the entire production process is controlled by a computer. The system integrates various operational stages from design to production, ensuring efficiency and precision. It represents a higher level of automation where design, analysis, and manufacturing processes are seamlessly connected, exemplifying advanced production technology that firms employ to enhance productivity and cost-effectiveness. This often entails a trade-off between labor and physical capital, in a bid to economize and optimize output.