This topic summarises the link between the management of physical resources and technology resources. Although they are different in type, both move hand in hand in business operations and cannot be separated.
Mutual dependence
Technology resources often need physical resources as a base — software needs a computer and electricity supply to work. In turn, physical resources become more efficient when controlled by technology, such as a computer-operated machine. This shows a relationship of mutual dependence.
Example
A supermarket's POS system (technology) must be installed on counters and computers (physical). When both are managed together, transactions are fast and stock records stay accurate. If the computer breaks down and is not repaired, the POS system also fails — proof that the two resources depend on each other.
Similar management procedure
Both resources are managed through almost the same steps: plan, acquire, use, maintain and dispose. The main difference is that technology needs employee training and data backup, while physical resources emphasise the maintenance of tangible assets.
Shared goal
In the end, both forms of management share the same aim: to raise efficiency, control cost and support the sustainability of the business. A business that balances and links the two resources will operate more smoothly and competitively.
The challenge of balancing both
Managing both resources at once is not without challenges. A business must set aside a sufficient budget, train its employees and keep up with the latest technology. Careful planning ensures physical and technology resources grow together without one lagging behind.
Remember
Summary: physical and technology resources are mutually dependent, managed through similar procedures, and share the goals of efficiency and sustainability. Managing one without the other makes operations less effective.