Industrial engineering needs to be executed as projects. IE studies are undertaken as projects. Implementation of study recommendations are also formulated as projects and approval is taken from higher authorities to incur capital cost. Hence industrial engineering projects form part of capital budgets of the organizations. They are more popularly termed as cost reduction projects. The finance departments specify required rate of return on the cost reduction projects. There is post-audit for these projects to verify whether the anticipated cost reduction is achieved or not.
For each project Net Present Value (NPV) is calculated. The total NPV of projects got approved by IE department in a year is a measure of the valued added by the IE department in the year.
What is the largest cost reduction project undertaken by your IE department? Can you indicate in comments.
Productivity Projects in Coca Cola
WCO journey over the past 10 years - 1 000 manufacturing and supply chain profit improvement projects (PIPs).
“Our WCO journey over the past 10 years has been nothing short of remarkable: We’ve seen savings of just over RMB* 100 million (*Chinese Yuan), and we’ve completed close to 1 000 manufacturing and supply chain profit improvement projects (PIPs). Our Kanban boards have evolved from filling up walls with production statistics to upscale, electronic boards with practical action plans.”
Huang Zhimin, Swire’s Continuous Improvement Manager, Central Service Supply Chain, looks at some digital technologies that supplement CI and structured problem-solving throughout Swire’s end-to-end value chain.
(wco): WORLD CLASS OPERATIONS
https://traccsolution.com/resources/digital-technologies/
Swire - Denver plant, 4500 pieces of Keystone Direct Drive LED T8 Tubes - $65,000 in annual energy savings
At Denver plant, 4500 pieces of Keystone Direct Drive LED T8 Tubes, specifically KT-LED15T8-48GC-850-D were installed in place of fluorescent tubes. Swire is projecting $65,000 in annual energy savings, and an additional $33,000 in annual labor savings by upgrading to Keystone DirectDrive LED tubes.
The improved quality of light and the impressive energy savings at the Denver location got the attention of Swire’s corporate headquarters in Draper, Utah. Representatives from the main office visited the Denver facility, and will be making a report to their other bottling plants across the west in an effort to help them achieve similar results.
https://keystonetech.com/casestudy/swire-coca-cola-bottling-plant-boosts-productivity-with-keystone-led-lighting/
https://www.swirecc.com/
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
Ud. 22.4.2023
Pub. 19.4.2023
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