Modernization - an Alternative to Rapid Innovation Aging

Abstract

The contemporary technological development has created conditions where innovation aging is already of major importance over physical. That is why a particularly important point in this direction is to properly calculate the degree of influence of innovation aging on products and processes in order to determine its impact on the technical and economic results of the industrial activity. In addition, the impact of innovation is globalizing, resulting in innovative aging equipment and lagging behind today's technologies that are being put into operation on a global scale. The further use of innovative outdated technology and technological processes leads to certain losses, the amount of which will depend on the extent of this lag. This article proposes an approach to identifying innovative aging of industrial products through modernization as an alternative solution to reduce the harmful effects of its impact.