lecture 01-Intro to Economics.pptx

MEE308Industrial Engineering and

ManagementDr. V. Sugumaran

Lecture 01

OBJECTIVES

• Understand demand forecasting techniques and costing

• Concepts of industrial engineering and organization

• Principles of work-study and Ergonomics• Various aspects of plant design and material

handling

EXPECTED OUTCOME

• Conduct market research, demand forecasting and costing

• Demonstrating knowledge of designing plants and controlling production

• Optimize resources of an organization and improve productivity

Lesson PlanUnit 1 - Demand Forecasting and Elements of Cost    Date

Introduction to topics 3-Jan-2014Macro and micro economics 7-Jan-2014Demand and supply – Factors influencing demand 8-Jan-2014Elasticity of demand 10-Jan-2014Demand forecasting – Time series 17-Jan-2014Exponential smoothing casual forecast 21-Jan-2014Delphi method – Correlation and Regression 22-Jan-2014Barometric method – Long run - Short run forecast. 24-Jan-2014Elements of cost – Determination of Material cost - 28-Jan-2014Labour cost - Expenses -do-Types of cost – Cost of production - Over head expenses 29-Jan-2014– Problems. 31-Jan-2014

Lesson PlanUnit 2 - Industrial Organisation Date

Introduction to Industrial Engineering 4-Feb-2014Roles of Industrial Engineer – Applications 5-Feb-2014Productivity – Factors affecting 7-Feb-2014Increasing productivity of resources 11-Feb-2014Kinds of productivity measures. 12-Feb-2014Case study 14-Feb-2014

CAT-1 SYLLABUS

Lesson PlanUnit 3 - Work Design Date

Introduction to work study 26-Feb-2014Method study – Time study – stopwatch time study 28-Feb-2014Standard data 4-Mar-2014Method Time Measurement (M-T-M) 5-Mar-2014Work sampling 7-Mar-2014Ergonomics. 12-Mar-2014

Lesson PlanUnit 4 - Plant Layout and Group Technology Date

Plant location - Factors 14-Mar-2014Plant layout - Types - Layout design process 18-Mar-2014Computerized Layout Planning 19-Mar-2014Construction and Improvement algorithms 21-Mar-2014ALDEP - CORELAP and 25-Mar-2014CRAFT 26-Mar-2014

CAT-2 SYLLABUS

Lesson PlanUnit 5 - Production Planning and Control Date

Types of productions, Production cycle-Process planning, 23-Apr-2014Forecasting, Loading, Scheduling, Dispatching 25-Apr-2014 Routing- Simple problems. -do-Materials Planning – ABC analysis 29-Apr-2014Incoming materials control -do-Kanban system 30-Apr-2014Just in time 2-May-2014MRP systems- Master Production Schedule 6-May-2014Bill of Materials – MRP calculations -MRP-II 7-May-2014

TEXT BOOKS

1. Industrial Engineering and Management by O.P.Khanna, Dhanpat Rai Publications (Rs.495)

2. Industrial Engineering and Production Management by Martand Telsang, S. Chand Publishers (Rs.350)

3. Production and Operations Management by R, Panneerselvam, PHI Learning Private Limited (Rs.295)

COURSE EVALUATION

• CAT-I 15%• CAT-II 15%• PROJECT/SEMINAR/ASSIGNMENT 20%• TERM END 50%

Why learn IEM

Technical20%

Soft skill30%

Indus-trial & Man-

agerial45%

other skill5%

% of use in Industry

Economics

There is NO Free Lunch

Long Long ago…

Economics

• Is it study of money?

Economics

• Is it study of Savings?

Economics

• Is it about eating lunch?

Economics

Scarce Resource

Alternative Uses

Choices – Decision Making

• Rational• Economical

Cost - Benefit

• Deals with inputs & Outputs• Deals with means & goals, objectives

Why Engineers learn Economics

• To decide produce or NOT• To decide how much to produce• To decide the price• To decide make or buy decision….

Types of Economics

• Macro Economics– Aggregate economics at a larger level often deals

with policy decisions

• Micro Economics– Is about how individuals and businesses make

decisions

Two Roles of Economists

• When they are trying to explain the world, they are scientists.

• When they are trying to change the world, they are policymakers.

Positive versus Normative Analysis

• Positive statements are statements that describe the world as it is.– Called descriptive analysis

• Normative statements are statements about how the world should be.–Called prescriptive analysis

Summary

• Intro to course• What is economics?• Types– Macro & Micro– Positive & Normative

Thank you