Literature ReviewManufacturing technology can be explained as the system that provides the tools that allow for the production of all manufactured goods. According to an article by the Department of Technology Management and Economics, Bennet and other authors elaborate the concept of manufacturing technology to create reliable and meaningful connections between research and applied use (Bennet, 2012). Gardan in the article Additive manufacturing technologies: State of the art and trends explains the origin of this concept and the strategic steps that are taken in implementing the procedure in the system (Gardan, 2016). The productive tools from manufacturing technologies provide productive tools that enable an effective national defense. They also make possible affordable agricultural product and modern communications. The everyday complications of life are also made easier. The author of the article also describes the current concepts of understanding manufacturing technologies and its concepts.

Research Question: How does the manufacturing technology enable the growth of companies today and what are the challenges faced in implementing it?

Hypothesis Statement: Manufacturing technology and precision technology are slowly becoming more important in the technological industry.

Theoretical Framework
In the article, recent advances in precision machinery and manufacturing technology, the authors explain the various latest advancements that provide practical research works of good quality to the international community (Liu, Hsieh, Chang, Tzou, Hanson, & Hwang, 2014). Some of the tools of manufacturing technology include, additive processes, material handling, automated systems, tooling, software and many others. Supply chain responsiveness can also be improved through this technology (Moyano-Fuentes, Sacristán-Díaz, & Garrido-Vega, 2016). With the growing technology in the global industry, the supply chain department of companies profit a lot from manufacturing technologies as it simplifies the tendering processes and outsourcing methods. In an article by the Production Planning and Control department, the authors elaborate on this concept and how it positively affects the supply chain of many businesses. The individuals also explain that the implementation of technology alone does not necessarily lead to improvements in performance. It is therefore vital to understand the correct ways of employing manufacturing technology for future concepts.

Despite the many benefits of manufacturing technologies, there are various challenges that are faced when teaching the concept. Ngaile, Wang and Gau explain that the communication theory is one of the key challenges that are faced with lecturers. The impact of this course on the students is that it increases their confidence in communicating effectively (Ngaile, Wang, & Gau, 2015). The various hardships that are provided by these innovations also discussed in relation to their effect on the student. According to the research article by Peter on Optimal investment policies in premature manufacturing technologies, the researcher describes some of the possible further innovations that are associated with manufacturing technologies (Peters, 2015). He also explains to the audience on the finest time to invest in technology to be able to produce better results for the companies. With the ongoing global competition, most companies are forced to advance to manufacturing technologies for the prosperity of businesses. The article also allows the audience to develop a better understanding of the future developments of the concept. However, the shift from a premature manufacturing technology to the new level and applying it in the operational level of the company is challenging.

Su & Hsu elaborate on the methods that can be used to foresee the success that can be derived from using the manufacturing technologies with sensors installed. The performance measurement is usually based on the different qualitative and quantitative methods that are used in the analysis (Su & Hsu, 2014). The ability of forecasting the success of the manufacturing technologies enables an individual to understand it better and how it operates. Research done on advanced manufacturing technology implementation reveals that many people have different opinions when it comes to the issue of technology (Thomas, Barton, & John, 2008). The research also shows the amount of capability that companies have to implement the advanced manufacturing technologies in their systems. Industries are however finding it difficult to adopt the manufacturing technology systems in their operations because of the difficulties that are accompanied with this kind of technology. Issues such as high cost, high difficulty level and the long approval process are some of the challenges that industries undergo with this concept. The article by Vartanian and McDonald also goes further to explain the AM technology which has conventional computerized machine tools that resolve the various problems that the industry faces (Vartanian & McDonald, 2016). Improvement techniques for the future use of the technological system is also given and explained in detail. As much as technology is a concept that is being embraced by many companies, it still needs a lot of rectifications during the operational level for it to be effective.

Further explanation is also given on virtual manufacturing and its benefits in businesses today. Some of the upcoming technological advancements that come with this system include virtual reality technology and simulation technology that are used in the exploration of the different sections of manufacturing technology. In the virtual environment, technology is used to derive a lot of relevant information (Xie & Xie, 2014). Information technology which plays a major role in the business society today is also another concept that is discussed in the program. Communication mechanisms have been made easier through this channel of technological advancement hence making it easier for information to be circulated within and outside organizations. It is important for many companies to embrace the manufacturing technologies in their systems to ensure a better working environment and also improve on the performance level of the industry. With the global competition, it is a concept that has been adapted in many systems guaranteeing a better outcome for companies and its associates.

    References
  • Bennett, D. (2012). Tracking the trends in manufacturing technology management. Journal of Manufacturing Technology Management, 24(1), 5-8.
  • Gardan, J. (2016). Additive manufacturing technologies: state of the art and trends. International Journal of Production Research, 54(10), 3118-3132.
  • Liu, C. H., Hsieh, W. H., Chang, Z. Y., Tzou, G. Y., Hanson, S. G., & Hwang, Y. L. (2014). Recent Advances in Precision Machinery and Manufacturing Technology. Advances in Mechanical Engineering, 6, 508592.
  • Moyano-Fuentes, J., Sacristán-Díaz, M., & Garrido-Vega, P. (2016). Improving supply chain responsiveness through Advanced Manufacturing Technology: the mediating role of internal and external integration.Production Planning & Control, 1-12.
  • Ngaile, G., Wang, J., & Gau, J. T. (2015). Challenges in teaching modern manufacturing technologies. European Journal of Engineering Education,40(4), 432-449.
  • Peters, S. (2015). Optimal investment policies in premature manufacturing technologies. International Journal of Production Research, 53(13), 3963-3974.
  • Su, C. S., & Hsu, S. C. (2014). Forecasting the Success of Implementing Sensors Advanced Manufacturing Technology. Sensors & Transducers,177(8), 184.
  • Thomas, A. J., Barton, R., & John, E. G. (2008). Advanced manufacturing technology implementation: a review of benefits and a model for change.International Journal of Productivity and Performance Management, 57(2), 156-176.
  • Vartanian, K., & McDonald, T. (2016). Accelerating Industrial Adoption of Metal Additive Manufacturing Technology. JOM, 68(3), 806-810.
  • Xie, G. R., & Xie, W. A. (2014). Advanced Manufacturing Technology–Virtual Manufacturing. In Applied Mechanics and Materials (Vol. 543, pp. 4638-4641). Trans Tech Publications.