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WHAT ARE THE APPLICATION OF INDUSTRIAL ENGINEERING & MANAGEMENT?

WHAT ARE THE APPLICATION OF INDUSTRIAL ENGINEERING & MANAGEMENT?

Industrial Management is considered as a part of Commerce and business administration. It studies the basic structure and organization of industrial companies. It includes those kinds of fields of Business Administration which are quite mandatory for the success of Companies residing in the manufacturing center and includes the kind of services that are defined as under.

Operation Management

Operation management lies in the domain of Industrial Management which is related to designing and controlling the processes which are included in production and the redesigning of different kind of business operation in the development of products and services.

Operation management incorporates the responsibilities for making sure that business operations are effective, accurate, and efficient in a way that few resources are needed in terms of conforming to the requirements which are needed by the customer. Operation management is all about planning, organizing, and supervising in different kinds of aspects of product manufacturing or the provision of different kinds of services.

operation management is also about the management of a production line and a production line incorporates the process that is responsible for the conversions of inputs which could be in the form of raw materials, labor, and energy into some form of output. Output can be a product or process or service or the deliverance of a product or service.

Through the use of operations, we are able to produce products, manage quality, and become able for the creation of services. Operational management incorporates different sectors like that of Banking systems, hospitals, companies working with the suppliers, customers, and use of Technologies.

Operations are the vital function that is involved in an organization along with different functions like supply chain, marketing, finance, and human resources. The function of operations requires the management of both strategic and production of day to day goods and services. in operations management, different kind of decisions are taken which includes operation strategy, product design process, design quality management, capacity, facilities training production planning and control of the inventory and each one of them has the need for analyzing the current situation and then coming up with a better solution for the improvement of effectiveness and efficiency of manufacturing or service operations.

Marketing

Industrial Management also compromises of marketing and marketing is termed as a study and management of exchange relationships. Marketing is identified as a business process for the identification, anticipation, and satisfaction of customer needs and their will. Marketing is all about attracting customers and is it is one of the main components of business management and commerce. The marketers can direct products to other businesses they can also directly to consumers.

It really doesn't matter who is being marketed to there are several perspectives used by marketers. The marketer is supposed to use market orientations to assess and analyze how the planning stage of marketing is going to be approached by marketers. And this particular concept leads to a marketing mix that determines the specifications of the product and through which steps it is going to be sold. All of this scenario can be affected by the environment that surrounds the product, the results of marketing research and market research, and the features of the products when it targets the market. When all of these factors are decided marketers decide through which methods they will present the product to the market and these decisions highly depend upon the factors which are being determined in the planning stage and also in the life cycle of the product.

Financial Management

Financial Management is also part of Industrial Management and it drives all of its focus on ratios, equities, and debts. Financial Management is quite necessary for portfolio management, distribution of dividend, capital raising, and looking after fluctuations which happen in foreign currency and the life cycle of the products.

Financial managers are the people who do their research and upon the results of the research that determine what kind of capital is required to be obtained in order for finding the company's assets as well as raising the value of the firm for all the stakeholders. Financial management is also referred to as the efficient and effective management of money in such a way that it accomplishes the goals and objectives associated with an organization. Financial Management is a special function highly dependent on top management. Management has been described differently by different experts who are associated with the field. Financial management conventionally applies to the organization or a company's financial strategy while on the other hand personal finance of financial life management relates to the individual’s management strategy. Financial management includes the raise of capital and allocation of the capital which is also termed as capital budgeting. Financial management doesn't only relate with long term budgeting but it also so make sure the allocation of short term resources like current liabilities. It also describes the dividend policies of the different shareholders.

Application Of Industrial Management In Engineering

Industrial Management is also termed as a structure and well-defined approach for the management of operational activities involved within a business organization. The application of industrial management in engineering are spread widely. Industrial Management has three basic features.

  1. First, it is very goal-oriented.
  2. The second thing is it makes the effective utilization of human and other kinds of resources involved within an organization.
  3. The third one is Industrial Management is one of the most important parts of any group activity.

In earlier days the application of Industrial Management was confined to the industry of manufacturing. But later the scope and application of Industrial Management got wider to other non-manufacturing activities like construction, transportation, airline operations, and maintenance, public utilities, Government, and military operations. Besides the line of production other departments of an organization also make use of the Industrial Management concept. These departments include marketing, finance, purchasing, Industrial relations at Cetera.

Some major applications of Industrial Management are

  1. Pre-Production planning.
  2. Production planning and control.
  3. Total quality management.
  4. To improve processes and services.

Which are defined as under.

Pre-Production Planning

Pre-production is termed as a process of planning of the elements in any organization. There are three parts in the production process. The first is considered pre-production, the second one is a production and third one is post-production. Pre-production ends when the planning ends and the good starts being produced. It also involves an element that is termed as a pre-production prototype which gives information about the manufacturing ability of the product, the manufacturing process, material and component lists, plans for field support, installation and production costs, safety, and environmental factors, time schedules, and regulatory requirements. Pre-production planning also includes plant location, plant layout, capacity planning, selection of machinery and equipment, and the handling of machinery.

Production Planning And Control Production

Now come the production planning and control. Production planning is termed as the planning and Production and Manufacturing modules that are involved in a company or industry. Production planning utilizes the resource allocation of different kinds of activities, employee’s materials and products, and capacity in order to serve different kinds of customers. Production planning is associated with different kinds of companies in different types of industries. It can include in the agriculture industry, oil and gas industry, postal, industrial packaging, and e-commerce industry. It can also in the compass amusement industry. Production planning and control revolve around planning, routing, scheduling, dispatching, and controlling.

Total Quality Management

Now comes to total quality management. Total quality management basically refers to the maintaining of the quality of goods that are being produced by setting up standard and checkup procedure for the produce parts as well as goods which are conducted on a regular interval and if it is found that there is a deviation from the standard then it is sent back for maintenance for ensuring quality, quantity, and functionality.

Improvement Of Process And Service

Now comes to improve process and service. Improvement Of process and services include the finance and marketing and human resource departments. Finance and marketing have been described earlier in this article and human resource is described as the people who make up the workforce of any organization.

Application Of Industrial Engineering

The application of industrial engineering has been defined by Prezi

Industrial engineers determine the most effective ways for an organization to use the basic factors of production - people, machines, materials, information, and energy - to make or process a product or produce a service. They are the bridge between management goals and operational performance. They are more concerned with increasing productivity through the management of people, methods of business organization, and technology than are engineers in other specialties, who generally work more with products or processes.

1. Developing an understanding of manufacturing methods by reviewing process flows, production schedules, and engineering specifications.

2. Determining how to manufacture products or deliver services.

3. Establishing management control systems for cost analysis and optimal budget planning.

4. Executing quality control processes to resolve problems in production cost-effectively.

5. Working with management, engineers, and customers to develop new standards for production.

6. Ensuring that products meet high-quality standards by designing control systems for production planning.

13th Jul 2020 Syed Furqan Ali

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