Question

Why do technology industry have grouped together

Answer 1

to get more and more profit

Answer 2

Group technology is drawing increasing interest from manufacturers because of its many applications for boosting productivity. GT is an approach to manufacturing that seeks to maximize production efficiencies by grouping similar and recurring problems or tasks. Through a careful examination of the many applications of GT, the authors show how it saves time, avoids duplication, and facilitates easy and timely information retrieval and use. An important part of GT is the use of a code that—like a library reference system—serves as an index to characteristics in manufacturing, engineering, purchasing, resource planning, and sales to improve productivity in each of these areas.
Group technology (GT) is a concept that currently is attracting a lot of attention from the manufacturing community. The essence of GT is to capitalize on similarities in recurring tasks in three ways:

By performing similar activities together, thereby avoiding wasteful time in changing from one unrelated activity to the next.
By standardizing closely related activities, thereby focusing only on distinct differences and avoiding unnecessary duplication of effort.
By efficiently storing and retrieving information related to recurring problems, thereby reducing the search time for the information and eliminating the need to solve the problem again.
GT offers a number of ways to improve productivity, according to studies of companies in batch manufacturing. One senior executive in the agriculture machinery business told us, “The fundamental reason for our adoption of GT was to improve cost and quality through reduction of design proliferation, response time, and work-in-process inventories through standardization and simplification of manufacturing planning and through creation of more efficient plant layouts.”

Over the last two years, this company has saved more than $9 million through GT. When 20 U.S. manufacturers using GT were surveyed, 17 of them indicated that the benefits of implementing GT equaled or exceeded their expectations.
The management of manufacturing technologies represents a vital component in the competitiveness of U.S. industry, one that should play a more important role in the formulation of strategic plans.3 For this to happen, general management must become more familiar with emerging and promising technologies. In this article we discuss several such technologies, all tied together by group technology, and identify their wide-reaching applications to all areas of business operations. We describe the potential benefits that can be achieved as well as common implementation problems.

Hope it helps you.