Financial Implications of Industrial Engineering

 Industrial engineering is profit engineering - Taiichi Ohno, Toyota Motors.

Taiichi Ohno on Industrial Engineering - Toyota Style Industrial Engineering

https://nraoiekc.blogspot.com/2013/11/taiichi-ohno-on-industrial-engineering.html

If you are not using IE techniques and methods, you are not encashing profits present in your business model. Establishing a business with customers is difficult. But once you establish it, you have to manage your operations, to derive the potential profits present in it.

Industrial engineering activity costs money to the company. But as advocated by Crosby, Quality is Free, and Industrial Engineering is also Free. Industrial engineering reduces existing costs. Hence IE pays for itself. IE projects may have capital investment requirement. But there is ROI above the cost of capital of the company.

IEs have to make ROI analysis for each of the projects they propose. They recommend projects with adequate ROI only.

Part of 

A to Z of Industrial Engineering - Principles, Methods, Techniques, Tools and Applications

https://nraoiekc.blogspot.com/2018/06/a-to-z-of-industrial-engineering.html

New Writing Project

Industrial Engineering: Productivity Improvement of Systems and Processes - Book by Narayana Rao K.V.S.S.

https://nraoiekc.blogspot.com/2023/04/industrial-engineering-productivity.html