Abstract
Successful firms have recognized the fact that technology has become a key competitive tool for success and are trying to leverage it for competitive advantage. This paper draws from an on-going study into the state of application of advanced manufacturing technologies (AMTs) in the Cyprus manufacturing industry. It primarily investigates AMT effectiveness by evaluating its impact on SMEs in the key areas of: product/market characteristics, competitive priorities and manufacturing parameters. The study was based on an aide memoir questionnaire which was completed during visits/interviews with owners/managers of 40 small–medium enterprises that proceeded with the introduction of AMTs in their organizations. Specifically, the paper addresses the following: (a) the strategic considerations in the introduction of AMTs with particular emphasis on the product/market characteristics of the companies; and (b) the priority assigned to and the respective impacts of AMTs on a comprehensive set of predefined performance indicators, grouped as competitive priorities and manufacturing parameters. The research findings presented in this paper reveal that the introduction of AMTs led to an increase in the competitiveness of the Cypriot manufacturing industry in terms of improved product market characteristics, improved plant utilization and flexibility and increased local market share.
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